SolarReviews releases the 2023 Top 10 States for Home Solar
September 14th, 2023 - Today, SolarReviews is releasing its first comprehensive ranking of the Top 10 States for Home Solar Power. Our solar experts evaluated each U.S. state based on the financial viability of going solar for upfront costs and long-term savings based on ten key factors.
The top 10 states are:
| 1. Massachusetts 2. Colorado 3. Washington D.C. 4. Maryland 5. New York |
6. Minnesota 7. Rhode Island 8. New Jersey 9. Illinois 10. Connecticut |
“The states recognized in our Top 10 rankings are excellent examples of using government policy to produce good outcomes for ordinary homeowners. By encouraging private investment in solar, these states will reap the benefits of improved environmental quality and increased energy self-reliance for generations to come,” said Andy Sendy, President of SolarReviews.
Unlike other “top states for solar lists” that feature heavy hitters like Texas and California because of their rapid utility-scale solar development, SolarReviews focused exclusively on solar power's benefits for homeowners in each state.
SolarReviews scored states on a mix of evaluation factors that play an important role in how financially viable a solar investment is for homeowners, such as available incentives and electricity rates. The evaluation factors can be divided into three categories: Policy, Incentives, and Outcomes.
The evaluation factors and their weights were:
| Category | Factor | Weight |
|---|---|---|
| Policy | Renewable Portfolio Standard | 10% |
| Solar carve-out | 5% | |
| Electricity prices | 15% | |
| Net metering / Feed-in tariff | 15% | |
| Incentives | Tax credits | 10% |
| Solar and battery rebates | 15% | |
| Performance payments and virtual power plants | 15% | |
| Property and sales tax exemptions | 5% | |
|
Outcomes
|
Average system payback time | 5% |
|
|
Internal rate of return on investment | 5% |
Read the full report here for details on how each state scored in each category.