Boston solar glass tax

Does Massachusetts have a solar tax credit?

Massachusetts has a tax credit worth 15% of the price paid for a solar system or $1,000, whichever is less. This state tax credit can be combined with the federal solar tax credit to reduce the cost of going solar by up to 45%. Massachusetts also has sales and property tax exemptions for solar purchases.

Are solar panels tax deductible in Massachusetts?

Yes. Massachusetts homeowners who go solar may be eligible to claim both a federal and state tax credit for their solar panels. Massachusetts offers a 15% tax credit, up to $1,000, and the federal government offers a 30% tax credit with no dollar limit. Consult with a tax professional about your eligibility.

How much tax does a solar system cost in Massachusetts?

The first Massachusetts solar incentive that would apply to your system is a state sales tax exemption. The sales tax rate in Massachusetts is currently 6.25%, so this exemption would save you $1,625 on a $26,000 system. Massachusetts also has a 20-year property tax exemption for the home value added by your solar system.

Do solar panels raise property taxes in Massachusetts?

Property tax exemption: Although adding solar has been proven to increase the value of a home, Massachusetts homeowners do not have to worry about a PV installation raising their property taxes. Whenever the value of MA property is assessed, renewable energy equipment is completely exempt for a 20-year period.