Massachusetts Could Save $313 Million Annually by 2030 Through Continued Solar and Energy Storage Expansion

A new report from Synapse Energy Economics, released for the Solar Energy Industries Association (SEIA), highlights that continued expansion of solar and energy storage in Massachusetts could provide more than $313 million in annual consumer savings by 2030. The findings come as state officials weigh policy and legislative measures to address a growing energy affordability crisis.

The study compares two scenarios: one where Massachusetts proceeds with planned solar and storage additions through 2030, and another where development stops after 2025. Researchers found that maintaining the clean energy trajectory would significantly reduce energy costs, shield consumers from volatile gas prices, and bolster winter grid reliability.

According to the analysis, the economic benefits extend beyond state borders, with New England as a whole projected to save $684 million in 2030 under the continued deployment scenario. The report notes that solar and storage deliver 44% of their avoided energy-cost benefits during winter months, when the region faces its highest reliability challenges. The clean energy additions would also avoid 29 billion cubic feet of natural gas—equivalent to 25% of the current electric-sector gas use in Massachusetts—and reduce carbon emissions by 1.6 million metric tons, comparable to removing 350,000 cars from the road for a year.

State leaders underscored the importance of the findings. Representative Mark J. Cusack, House Chair of the Joint Committee on Telecommunications, Utilities, and Energy, said the analysis demonstrates the potential for solar and storage to lower utility bills, enhance winter reliability, and support climate goals. He added that lawmakers are prioritizing legislation to remove barriers to the deployment of cost-competitive clean energy resources.

Department of Energy Resources Commissioner Elizabeth Mahony said expanding solar and storage would not only reduce energy costs but also strengthen the electric grid and create opportunities for local clean energy businesses and jobs.

With New England’s peak electricity demand shifting from summer to winter, solar and storage are becoming essential tools for grid stability. The report finds that in the highest-demand winter hours of 2030, these resources could supply around 11% of total load, reducing reliance on expensive and vulnerable gas-fired power plants.

SEIA’s vice president of state affairs, Sara Birmingham, noted that residents and businesses in Massachusetts face some of the highest electricity rates in the country and emphasized that scaling up solar is a cost-effective way to deliver relief.

Synapse Energy Economics Associate Selma Sharaf said the report quantifies the economic and reliability advantages of adding solar and storage at a time when energy affordability is a major concern. She added that reliance on gas poses risks and that sustained clean energy deployment is crucial to achieving a more affordable, reliable, and low-carbon energy system for the state.