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DOER outlines SMART 3, warns industry must accelerate to capture federal tax credits
Summary
The Massachusetts Department of Energy Resources detailed the SMART 3 incentive, protections for open space, and actions to speed solar deployment as federal tax credits wind down, and urged regulators and utilities to move quickly to preserve projects.
The Massachusetts Department of Energy Resources on Thursday told state legislators that a redesigned Solar Massachusetts Renewable Target program, SMART 3, aims to speed solar deployment while protecting ratepayers and sensitive lands — but officials warned developers and regulators must move quickly to capture federal tax credits that will phase out.
"SMART 3 is an evergreen incentive program" that can "quickly respond to changing market conditions," Elizabeth Mahoney, commissioner of the Department of Energy Resources, told the Joint Committee. She said the DOER recently opened a portal accepting applications for up to 900 megawatts under the new version of the program.
The program is designed to set a base compensation rate for produced energy and pay adders for projects that meet state priorities such as low-income access and site protections, Mahoney said.…
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