New York Incentives
123SolarPower is in the forefront of the renewable energy movement, providing solar solutions for all residents of the US and Canada. With hundreds of solar partners, in virtually every corner of the continent, fantastic opportunities are available to all who desire the savings solar power brings both financially and environmentally. With hundreds of solar partners, in virtually every corner of the continent, fantastic opportunities are available to all who desire the savings solar power brings both financially and environmentally.
New York residents are particularly fortunate when it comes to renewable energy incentives, especially solar energy. The Empire State continues to make notable progress towards a future of renewable energy generation from residential and commercial sources, especially solar power. Although solar panels New York will not produce as much energy per day as the sunnier states like Arizona, the current average state wide cost of electricity makes solar a cost effective option. Currently New York customers pay an average of 16 cents per kilowatt hour which is as much as 50 percent higher than other parts of the country. Due to this high cost, and many incentive programs, New York is one of the fastest growing solar markets in the country. The in place incentives, coupled with a high return on investment, are driving the New York solar market at an increasingly rapid rate. Our New York network can service the whole state, from solar panels NYC, solar panels Albany NY, solar panels Rochester NY, solar panels Long Island NY, all the way to solar panels Buffalo NY.
Residential Distributed Generation
Investor owned utility providers are legally obligated to offer a net metering program for all residential photovoltaic (solar panel) installations of up to 25KW. Publicly owned utilities are not required to offer net metering; however the Long Island Power Authority and others do offer similar programs. In the majority of net metered systems, excess generation in one month is credited back to the customer at the retail rate via their monthly bill. At year’s end, excess power generation is reimbursed to the customer at the utilities avoided cost rate. For example an array of solar panels Long Island that produce more electricity than a homeowner needs will actually make the homeowner money because the excess solar electricity will be sold back to their utility provider.
Income Tax Credits
A state tax credit is available of up to $5,000 or 25 percent of the installation cost for photovoltaic systems on homes or residential buildings. In homes, the maximum system size is 10KW. On residential dwelling installations, such as homeowners associations and condominiums, the maximum size is 50KW. In cases of multiple-ownership, the credit is divided evenly among the members.
A federal tax credit worth 30 percent of the total cost of the system is available for residential renewable energy systems as well under the Energy Policy Act of 2005. Both state and federal credits must be filed for the year of the system installation. Grant money used for any installation is not applicable for tax credit. However, consider that the solar panel installation Long Island cost will be counted along with the cost of purchasing the solar system towards your federal tax credit.
Power Naturally Program
Residential homeowners and building owners who pay a Residential Programs and Services fee on their utility bills can apply for a rebate worth up to $1.50 per Watt DC produced and up to 40 percent of the cost of a photovoltaic system installation after available tax credits, up to $10,500. Visit the NYSERDA website for details and any changes in this program.
NY- Sun Incentive
Incentives, as well as funding for systems including solar water heating, photovoltaic systems, geothermal heating and cooling are available in New York. The Megawatt Block Incentive Structures breaks the state into regional MW blocks and awards incentives to the block that is in effect at the time. Several factors are considered to determine incentives for a particular MW block including installed cost per watt, past demand and regional equity. The current incentives for the MW Block Incentive Structures are updated weekly on the NY-Sun Incentive site.
Help For All New York Residents
Regardless whether you live in New York State, Long Island or any of the five boroughs of NYC, there are many incentives in place for the installation of solar power for your home. Aside from state and federal programs there are countless local incentives as well. These programs can be bewildering to most and change frequently. Fortunately there is a 123SolarPower representative near you no matter where in New York you live. Simply fill out the contact form on this website or call 800-294-2397 and a solar pro will be pleased to help you with the program and system that is the best fit for your home. Remember when it comes to Solar Panels NY, 123SolarPower will work to help you save. Receive free localized cost quotes today from our New York solar network.
