My very first blog post was entitled “Is Now The Time For Solar Panels?“. My answer of course was a resounding yes! With the first Commonwealth SREC program due to expire at year’s end, that answer holds even more true today than when I first posted it almost 18 months ago.
As I detailed in my last post, Mass. Solar Market in State of Emergency, there was a rush of applications as we neared the 400 MW cap that pushed us well beyond that limit. In an effort to restore order to chaos, the state did a very reasonable thing and declared that any solar panel installations under 100 kW that got approved by the end of the year would qualify for the existing program, even if that pushed out beyond the cap.
Since the numbers being thrown around for SREC II do not look as advantageous to the homeowner, I would say that if you are considering getting solar panels, you should do so now!
While they haven’t finalized what the SREC II program is going to look like, the state has stated all along that they would like to reduce the incentives available to homeowners as the costs for solar panels decrease. Since these incentives are financed by electric utility ratepayers (i.e., us), I cannot disagree with their motives.
One benefit to the new program is their desire to make the SREC program more predictable. As the amount of blog posts I’ve given to the subject would attest, the current SREC program has been anything but predictable and in a letter I sent to the Mass DOER, that has been my main beef with it. As I stated earlier, they have not finalized the incentives for SREC II, but predictability is one of its goals.
However, if you can handle some slight impredictability in exchange for higher returns, then now is most definitely the time for solar panels!