Energy storage figures prominently in Massachusetts’ clean energy ambitions, and SMART is the state’s key incentive for driving solar plus storage installations. Because SMART is especially appealing for front of meter (FTM) projects, Stem focuses on these with our developer and EPC partners.
The Solar Massachusetts Renewable Target (SMART) Program is Massachusetts’ key solar initiative supporting deployments across the state. With a goal of net-zero GHG emissions by 2050, Massachusetts has among the most ambitious climate targets in the U.S.
SMART pays solar projects a fixed per-kWh rate for all solar production over a 20-year term. The incentive is paid by the utility to the project owner using state-provided funds.
SMART also incentivizes battery storage. When Massachusetts recently doubled its solar target to 3.2GW, it required all PV systems larger than 500kW to be paired with energy storage.
Incorporating energy storage provides an additional SMART incentive, known as a “storage adder,” that increases the base per-kWh rate for solar production and significantly enhances project economics.
Stem is a global leader in AI-driven energy storage systems, with more than a decade of experience partnering with organizations and developers to realize hundreds of successful projects. Our market expertise, operating experience, and advanced technology platform make it easy to attach storage to your PV projects and create additional value.
If you’re interested in capitalizing on Massachusetts’ SMART incentive, contact Stem today. Our experts would be happy to answer your questions and design an ESS that works for you.
SMART requires projects to be interconnected by one of Massachusetts’ investor-owned utilities: Eversource, National Grid, or Unitil. Because SMART is a “declining block” incentive program, the richest incentives go to the first tranche of projects and then decline at a fixed percentage for future tranches.
The SMART storage adder is determined by the size and duration of the energy storage system. The battery’s capacity (in kW) must be at least 25% that of the solar asset, and it must discharge for two to six hours. SMART also sets battery operational requirements to facilitate wholesale market participation.
In addition to SMART, participating in Massachusetts’ Clean Peak program and New England’s wholesale energy, capacity, reserves, and regulation markets provides significant revenue opportunities that enhance solar plus storage project economics. Energy storage is needed to enable or maximize each of these opportunities.
Featured Case Study: Front of Meter Solar Plus Storage
In this large-scale solar plus storage project with leading developer Syncarpha, Stem’s Athena AI delivers the intelligence that enables participation in ISO New England wholesale energy markets. In addition, Athena supports compliance with requirements for federal investment tax credits and the Solar Massachusetts Renewable Target (SMART) Program.Read More