About Solar Savings
Informed Customers Are Happy Customers
You may be interested in Rhode Island incentives:
RI Incentives & REF/REG Programs
Rhode Island offers two popular programs. As a business owner, you may select to participate either in the Renewable Energy Fund Program or the Renewable Energy Growth Program. Click to visit the page and to see more about each program.
Fundamentals of Savings
When you install a solar power system you become your own electric utility provider for a portion of power you require. The energy you generate and use is no longer purchased. In many instances, the excess energy you produce is sold back to the electric utility. Businesses and organizations that go solar have more control than ever over their energy costs in this way. The solar savings benefits include the following:
Reducing Your Monthly Energy Expense
Illustrative Example From a Commercial Customer
(Click to see larger image)
Cumulative Positive Cash Flow
Beyond the savings on your monthly electric utility bills, solar energy systems continue providing a substantial positive cash flow for years after the system cost pay-back has been achieved. Solar system component costs have recently dropped dramatically. It is now very common for commercial businesses and organizations to achieve their system pay-back in less than 5 years.
For the rest of the productive years of the system — projected to be more than 25 years for quality equipment – the cost of this electricity is nearly zero. This savings is monetized as a Cumulative Positive Cash Flow of many times the initial system cost.
Incentives & SMART Program
For over a decade the solar energy industry has been booming in Massachusetts. The Solar Massachusetts Renewable Target (SMART) Program is the third generation approach to policy to adjust to the changing solar landscape.
- New incentives to take effect in 2018
- Establishes predictable, constant incentive value over a 10 or 20 year period
- The largest incentives are at the beginning of the program
- Larger solar systems have more incentive value
- Added incentives promote alternative designs and emerging solar technologies
SMART Program Details
The Massachusetts Department of Energy Resources (DOER) designed the SMART program to provide more long-term revenue certainty and remove value fluctuation for solar system owners. To do this, the program provides a single compensation rate that reflects what was previously both the energy value and the incentive value. Total costs of the SMART Program can be predicted and tracked more accurately than in the past.
The year the SMART program benefits replace the existing multiple incentives.
The current limit to installed capacity covered by the SMART program is set at 1,600 MW. The goal is to approximately double the existing Massachusetts installed capacity soon.
The SMART incentives establish a payment value at the time of system interconnection that remains constant over a 10 or 20 year period. This eliminates the uncertainty of the incentive value of prior SREC programs. Knowing the incentive value in advance makes it easier for solar customers to determine the cost and payoff time frame for their system.
Solar systems rated above 25 kW and above are eligible for the 20 year payout. At or below 25 kW solar systems are eligible for the 10 year payout.
Larger Systems Realize Larger Incentives
The incentives are most generous for solar energy systems below 1 MW. In general, larger systems realize larger incentives since the incentive amount is based on the amount of produced electricity. If your business or organization may be a candidate for a solar energy system larger than 1 MW, let us show you how a larger system can still return your investment as quickly as a smaller system.
Special SMART Program Adders
Additional policy objectives have been set that increase the incentive by a specific amount ($/kWh). These “adders” are intended to encourage solary energy system designs using certain new technologies and that will generally be more productive in property use. These incentives are also projected to decline with each of the 7 successive blocks of 20 MW within the program. Some examples of the adders to enhance solar savings include the following:
We Support Customers in Many Industries
Where do you fit and how can we help?
BlueSel Commercial Solar understands the unique energy requirements for lodging and hospitality. Let us show you how solar works for your location whether a year round or a seasonal location.
Commercial solar is a bankable way for business, large or small, to get control of rising energy costs. Let us show you how to you can turn solar savings into a benefit for your core business.
BlueSel addresses the distinctive financial needs of non-profit organizations. Variable budgets require precise and efficient designs, and specific financing. Let us show you how to save with solar.