General Finances

The uniqueness of the Passive House construction made it impossible to find a builder on Martha’s Vineyard with the Passive House expertise and willingness to bid on the project on a fixed price contract basis, and so a cost-plus contract was executed with Farley Built, Inc. of Tisbury, Massachusetts, with construction costs in-line with major construction projects on Martha’s Vineyard.

Gross Cost of Renewable Energy System $40,259
Value of Tax Credits for renewable energy systems $13,077
Net Cost of renewable energy systems $27,182

Savings and Revenue

Annual Electric Savings $5,240
Annual Revenue from SRECs or other RE credits $1,700

Rebates and Financial Incentives

Federal incentives

Federal Rebate for PV System: $7934
Federal Rebate for SHW System: $4143

State incentives

MA Residential New Construction Program Tier III incentive: $7K
PON Zero Net Energy Building grant: $10K + $2K for hygrothermal modeling.
MA Income Tax Credit for PV System: $1K