General Finances

Total Cost of Project $62,100
Construction hard cost $13,500
Gross Cost of Renewable Energy System $48,600
Cost per sq ft of conditioned space $39.00
Value of Tax Credits for renewable energy systems $26,080
Net Cost of renewable energy systems $22,520

Savings and Revenue

Annual Electric Savings $1,520
Annual Revenue from SRECs or other RE credits $2,350

Rebates and Financial Incentives

Federal incentives

PV System:
$14,580 tax credit

State incentives

PV System:
$10,500 rebate from Massachusetts Clean Energy Center
$1,000 MA tax credit

Utility incentives

Heat pumps:
$1,000 rebate



Note: The annual electric savings above also include the propane savings from removing the existing boiler.

Reflections: Don't overlook the mundane. A small, simple project can pack a lot of savings.