Massachusetts Incentives/Policies for Renewables & Efficiency |
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Last DSIRE Review: 07/23/2012
Program Overview:
| State: |
Massachusetts |
| Incentive Type: |
Personal Tax Credit |
| Eligible Renewable/Other Technologies: |
Solar Water Heat, Solar Space Heat, Photovoltaics, Wind |
| Applicable Sectors: |
Residential |
| Amount: | 15% |
| Maximum Incentive: | $1,000 |
| Eligible System Size: | Not specified |
| Equipment Requirements: | System must be new and in compliance with all applicable performance and safety standards and must be reasonably expected to remain in operation for at least five years. |
| Carryover Provisions: | Excess credit may be carried forward three years |
| Start Date: | 1979 |
Authority 1:
Date Enacted:
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M.G.L. Ch. 62, ยง 6(d)
1979
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Authority 2:
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830 CMR 62.61
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Summary:
Massachusetts allows a 15% credit -- up to $1,000 -- against the state income tax for the net expenditure* of a renewable-energy system (including installation costs) installed on an individual’s primary residence. If the credit amount is greater than a resident's income tax liability, the excess credit amount may be carried forward to the next succeeding year for up to three years. Eligible technologies include solar water and space heating, photovoltaics (PV), and wind-energy systems. The original use of the system must begin with the taxpayer, and the system should “reasonably be expected to remain in operation for at least five years.”
The credit is available to any owner or tenant of residential property. For a newly constructed home, the credit is available to the original owner/occupant. Joint owners of a residential property shall share any credit available to the property under this subsection in the same proportion as their ownership interest. Any excess credit amount may be carried over to the next 1-3 taxable years. To claim the tax credit, complete Schedule EC.
* The term "net expenditure" is defined as the total of the purchase price for any renewable energy source property and installation cost less any federal tax credits and rebates/grants received from the U.S. Department of Housing and Urban Development.
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Contact:
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Tax Information
Massachusetts Department of Revenue
P.O. Box 701
Boston, MA 02204
Phone: (800) 392-6089
Web Site: http://www.dor.state.ma.us
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Disclaimer: The information presented on the DSIRE web site provides an unofficial overview of financial incentives and other policies. It does not constitute professional tax advice or other professional financial guidance, and it should not be used as the only source of information when making purchasing decisions, investment decisions or tax decisions, or when executing other binding agreements. Please refer to the individual contact provided below each summary to verify that a specific financial incentive or other policy applies to your project.
While the DSIRE staff strives to provide the best information possible, the DSIRE staff, the N.C. Solar Center, N.C. State University and the Interstate Renewable Energy Council, Inc. make no representations or warranties, either express or implied, concerning the accuracy, completeness, reliability or suitability of the information. The DSIRE staff, the N.C. Solar Center, N.C. State University and the Interstate Renewable Energy Council, Inc. disclaim all liability of any kind arising out of your use or misuse of the information contained or referenced on DSIRE Web pages.
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