Northeast States Fare Well In New Solar Rankings

A new set of solar rankings indicates that many Northeastern states have fared well in being able to promote the growth of solar energy throughout the United States. Ambitious countrywide goals from the Obama administration and equally strong plans from state governments have been helping promote the use of solar energy throughout the country. The power source offers numerous benefits to its users, as it can make dramatic reductions in utility bills while at the same time contributing to fight against global climate change. However, not every state is equal. While some have more days of direct sunlight than others, these are not the only factors that go into making strong solar states. Some governments provide more lucrative incentives than others making the widespread uptake of solar panels more prominent in these locations. Lancaster, MA 1 Community Solar 1 MW Project New report indicates strong NortheastFinancial advice website Nerd Wallet has released its rankings for the best residential solar energy states, with the northeastern region showing strong representation in the top ten. The website formulated its rankings based on a number of factors including logistical considerations like the amount of sunlight present in each state, but also financial factors such as the electricity rates in the states, as well as the incentives offered in these regions. Major green energy states like California and Hawaii topped the list, as their efforts to promote solar have been well established for quite some time, however, states such as Delaware, New Jersey, New York and Massachusetts also rounded out the top ten as they continue to burst onto the solar energy scene. Delaware ranked the highest of these states, a ranking that may surprise some people, given its size. However, as a result of some lofty goals by the state legislature, which is striving to have a quarter of the state's energy generated by renewable sources come 2025, the state is becoming a hotbed for residential solar installations. The news source explains that a number of incentives, such as solar renewable energy credits, make it so that utilities can actually pay residents for the power that is generated by their system. The state government also provides rebates based on the size of the installation, helping reduce the initial cost of installation. In all, these kinds of incentives allow for about a five-year payback on a solar investment for most home or business owners. Of course, a home or business can go solar for no upfront investment at all in many areas as third parties are able to monetize the incentives to provide such attractive solar financing options. California received the highest score in the rankings with a total score of 56 out of 100. Delaware, which ranked 5 had a total score of 41.2. New Jersey and New York followed close behind with rankings of 40.7 and 39.4 respectively, as Massachusetts rounded out the top ten with a score of 37.2, though it had the highest rating for state incentives. Strong solar marketsThese results reflect strong markets in much of the Northeast region, as strong investment and incentives result in expansive markets. For example, Delaware saw 13 million of investment in the industry during 2012, which helped contribute to its 18 megawatts of total capacity, which is enough power to support nearly 5,000 homes, according to Solar Energy Industry Associates. Neighboring state, New Jersey has been a pioneer in the region with efforts to expand solar, and as a result, had 419 MW of solar capacity installed in 2012, helping make it the third largest state for solar capacity 1,051 megawatts total. As a result, solar PV prices fell by 20 percent last year, outpacing the national average, as indicated by SEIA figures. Massachusetts and New York have also been instrumental in promoting the energy source throughout the region, despite setbacks like limited sunlight when compared to states like California and Hawaii. You may also like - DOE's 4 billion loan supports more renewable energy projects New Bedford follows Massachusetts' lead in pushing solar Cape Wind project may receive push it needsCommentsPowered by Facebook Comments This entry was posted in Delaware, Massachusetts, New Jersey, New York, Solar Energy News, Solar Incentives and Financing on September 10, 2013.