January 6th, 2010

Good News For Job Seekers! Mass Solar Industry to Grow 30% per year

BOSTON -

Massachusetts new state solar incentive program that will take effect in 2010, it will create and sustain solar industry growth of 30% per year for the foreseeable future. Good news for existing solar companies, entrepreneurs looking to enter the space and college graduates that want to save the world.

Here’s the skinny. The solar photovoltaic (PV) industry is mainly driven by government incentives. There is currently a 30% federal tax credit for solar PV installation and then state governments have incentives in addition to the federal incentives. Both these incentives eventually cover between 60 to 80 percent of the cost of installing a solar power system. These incentives are needed to make installing a solar PV financially attractive.

Needless to say, state incentives are very important for the industry and are driving it forward.

2 months ago, Commonwealth Solar, the state’s first incentive, ran out of money.

On Friday December 18th I participated in a webinar hosted by the Dept. of Energy Resources (DOER) that explains what the new incentives will look like.

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Tagged ACP, RPS, solar, Solar PV |