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Solar Incentives Bring Instant ROI to New Englanders with Battery Storage

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Josh Taub

SolarEdge Editor

December 16, 2020 Comments ()
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Solar Incentives Bring Instant ROI to New Englanders with Battery Storage

With up to $14,600 in combined solar ROI incentives, on a $12,000 solar system install, homeowners in the region stand to make their money back - or even profit - from incorporating our home backup solution.

Over the next five years, the National Grid’s ConnectedSolutions program is set to reward thousands of dollars to Rhode Island and Massachusetts consumers of clean, home energy storage, who are willing to share a certain portion of their excess energy with local utilities for a stronger, healthier grid.

No question, this presents a big financial opportunity for homeowners with our battery storage solution. By connecting it to a SolarEdge inverter, users can pre-schedule daily excess loads of 100% renewable energy back to the grid during peak demand hours.

“It’s the easiest and fastest way for a solar customer in the region to make serious ROI off their initial system investment,” says our Regional Sales Director, Benjamin Farr. “It is also great news for the energy-conscious National Grid, who quickly partnered with us after a detailed presentation on both our backup solution capabilities and our built-in RGM metering.”

The built-in RGM-metering is key, which automatically ups the incentive by an additional 5K for Massachusetts-only SolarEdge customers that have it. Because of its accuracy in funneling vital, real-time reporting back to the utility, the feature has been accepted as an additional SMART incentive by the National Grid.

AND, not only is our home backup solution helping to create solar ROI for homeowners that meet the program’s criteria, it is also putting more money in the pockets of local installers – an added $10K per solar system install.

Did you know? The 26% tax credit for owning energy storage will not be available much longer. In 2021, the incentive will drop to 22%.

 

Crunching the Numbers:

Owning a home backup solution has never been more worthwhile—in fact, some could profit:

  • Through ConnectedSolutions, system owners can earn up to $1,200 a year - $6,000 over 5 years
  • Because of our system’s built-in RGM, Massachusetts homeowners with SolarEdge may earn an added $5,000 over 10 years, via the National Grid’s SMART incentives
  • Throw in the 30% federal tax credit for owning storage, and it adds up to a possible $14,600 in cash back, on a $12,000 investment

 

“We could not be more excited to pave a cleaner and smarter future with the National Grid, through our proprietary solutions,” adds Farr. “This is a way for us to help our installers, end users, and the planet—it’s a real win-win-win.”

Click for details on our home backup solution.

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