Beginning in late January, Massachusetts will once again be accepting applications for the Commonwealth Solar Rebate Program. The press release from Governor Deval Patrick’s office laid out the next phase for solar in the state:

…the new programs – Commonwealth Solar II and Commonwealth Solar Stimulus – will begin accepting rebate applications from residents and businesses seeking help financing their solar photovoltaic (PV) systems. The new rebate programs will be benefit from a two-pronged funding scheme. Funding for Commonwealth Solar II, providing rebates for small residential and commercial photovoltaic (PV) systems (5 kilowatts or less), will come from $1 million per quarter in existing funds from the Massachusetts Renewable Energy Trust.

The press release doesn’t stipulate how much funding an individual project can expect to receive; under the original Commonwealth Solar plan, residential rebates began at $1/watt but could be over $4/watt, if the applicant qualified for adders like moderate income, moderate home value, or Massachusetts-made solar components. However the rebate breaks down this time, $1 million per quarter in funding should help a substantial number of small solar projects get off the ground.

Accessing federal funds (ARRA), Governor Patrick will be able to offer solar installations of 5-200kw rebates as well. But the real buzz in the state is around the proposed Solar Credit market. This is essentially a market in which the solar renewable energy credits (SRECs) associated with the electricity produced by solar panels in the state can be sold, the proceeds going to the owner of the solar installation. This is the very successful model currently being used in New Jersey, most notably. Why the state couldn’t just call it an SREC program is beyond us–but we’re happy to see Massachusetts getting into the SREC game, regardless. For a state that has consistently provided thought and legislation leadership on renewable energy issues, its programs to help offset the high cost of solar installations have lagged behind neighbors like New York. Way to ring in the new year, Massachusetts!