Sun Continues To Shine For Solar
James Dumas is a principal at Solect Energy Development, a full-service solar photovoltaic project developer based in Hopkinton.
Renewable energy continues to grow in Massachusetts at an incredible pace, especially solar photovoltaic (PV) installations in the residential and commercial markets. According to the solar industry's leading organization, the Solar Energy Industries Association (SEIA), Massachusetts has been a top-5 state for solar in each of the past two years. That standing is echoed by Ernst & Young in its U.S. Renewable Energy Attractiveness Indices — Solar Energy for 2011 and 2012.
This growth is validated through the numbers the state is producing in solar energy output. Through its Solar Renewable Energy Certificates (SREC) program, the Massachusetts Department of Energy Resources (DOER) had set a goal of 400 megawatts (MW) of solar installations by 2018. When that goal was expected to be reached four years early, Gov. Deval Patrick last spring set a new target four times larger — 1,600 MW — by 2020.
The economic benefits of solar in Massachusetts are tremendous: a 30-percent federal tax credit and accelerated depreciation, coupled with the state's SREC and Net Metering programs, make installing solar a sound business decision, and many businesses are able to offset up to 100 percent of their electricity needs. The details of the state's new program — SREC II — will be formalized in the coming weeks, with the goal of having the program in place by late January. One thing is becoming more apparent: commercial roof-top projects are in the sweet spot for the proposed program. That means many building owners in Massachusetts are well positioned to gain the maximum incentives available, especially if the electricity is all used on site. If it's not, then the Net Metering program, which allows you to transfer credits to other electric accounts, can be used to monetize the electricity.
As if the hard economic benefits of solar weren't enough, there's another reason for businesses to seriously consider solar to cover a significant portion of their energy needs: the environmental impact. Many executives are starting to think of each of their businesses as an organism — what you put in equals what you get out. You wouldn't put or keep poor management in place; that's a bad business decision. It's the same argument for choosing to use clean energy to power a business: Why use an energy source that has a negative impact on the environment when a clean energy alternative is available for the same cost or even less? That's right; the cost of deploying a renewable energy solution like solar is at parity with the cost of energy from the grid, making it an even easier decision for many companies to choose the more sustainable option. And that option is paying off for many companies, who tout their green status to existing and prospective customers, employees and partners. They're making a statement about their commitment to their communities and being highlighted as examples of success in the green economy.
Solar energy is clean, sustainable and affordable. It replaces a company's total reliance on the grid with a clean-energy solution. It's also creating jobs in Central Massachusetts; helping companies stand out as green leaders; win new business as customers recognize their commitment to the environment; and it's introducing a new revenue stream to the business plan. An experienced solar PV developer can help you determine if solar is the right choice for your company's building and business, taking into account both the financial aspect and the green benefits. n
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