How To Get Free Solar Panels in New York
Updated October 29, 2024 | 9 min read
If you are a homeowner in New York, there is a good chance that you qualify for a free solar panel installation for your home or business! This guide will help you find out if you qualify and how to get started with solar.
How Can I Get Free Solar Panels in New York?
New York State has several programs and incentives designed to make solar panels more affordable for homeowners. However, there's no program that offers completely free solar panels.
The good news is that with available incentives, you can significantly reduce the upfront cost of solar installation, potentially making it feel like you're getting solar panels for free in the long run.
Step 1: Review Your Options
There are several programs that offer free solar panels and installations to residents of New York. Your options depend on a number of factors such as where you live, the type of energy system you need, and your income status.
Based on these factors, you may also qualify for even more financial benefits like rebates and tax credits. The following are some of the most popular and beneficial programs currently available in New York….
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Power Purchase Agreement (PPA)
The most common path to "free" solar is a PPA directly between you and a state-licensed solar energy company. Under a "PPA", the solar company absorbs the full solar panel cost of equipment and installation for you.
The solar company is technically the owner of the equipment, however, they are responsible for providing you with electricity produced from your home for a guaranteed fixed rate (unlike the unpredictable rising costs of traditional utilities). They are also responsible for any continued maintenance or repairs the solar system may require.
This can be a great option if you don’t want to buy or simply can’t afford to buy the solar panel system outright. Even though the homeowner isn’t purchasing the actual solar system, they still enjoy the benefits of solar energy and save money on their electricity bills.
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New York State Solar Programs
While New York does not have a statewide rebate program, they do offer some of the best solar incentives in America, including a massive 25% state tax credit for solar equipment worth up to $5,000!
There’s also the NY-Sun Initiative Megawatt Block Program that pays you cash for every kilowatt of solar installed on your home, which varies based on where you live. For example, the incentive rate is $0.20 per watt in the Con Edison service territory (New York City), and $0.30 per watt in upstate regions.
Additionally, local governments and utility companies provide generous solar incentives and programs, each with unique eligibility requirements. When combined, the plethora of incentives in New York significantly offset the cost of going solar and can even provide a financial return.
Considering how specific each program is to the details of your home, we strongly suggest you speak with a local solar expert to review all of your best options.
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What are Additional Financial Benefits
In addition to these programs, there are many financial benefits for homeowners in New York who switch to solar energy. Some of the biggest incentives and benefits are:
Federal Tax Credit
Formerly known as the Solar Investment Tax Credit (ITC), this program was extended in 2022 and renamed the Residential Clean Energy Credit. Homeowners who install solar can claim a massive federal tax credit worth 30% of the gross system cost (including panels, related equipment, wiring, solar installations, permits, and fees). That means that if the gross system cost is $20,000, your federal tax credit would be a whopping $6,000!
Net Metering
Net metering is a buyback program that pays you credits for any excess energy your solar panels produce and send back to the grid. You can then apply those credits toward future energy bill.
New York offers net metering for residential solar systems up to 25 kW of capacity (for context, most home systems are only about 10 kW) and up to 750 kW for non-residential solar projects.
Multiple Tax Exemptions
Homeowners with solar can receive a property tax exemption for the value of their system for 15 years. This allows homeowners to increase their property values without increasing their taxes. The state also applies a Sales Tax Exemption to the purchase of the system, so residents won't have to pay the 4% NY state sales tax.
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Step 2: Find Out if Your Home Qualifies
Depending on where you live, your home may qualify for several different solar savings or free install programs, each with unique advantages. We strongly recommend you speak with a local solar expert regarding your options prior to installation. If you begin an installation without applying for the right programs, you may lose out on massive savings!
Step 3: Get a State-Licensed Installation
Working with a state-licensed solar installer is the best way to ensure your solar system is installed safely, securely, and most importantly, legally. Setting up a cutting-edge solar system and connecting it with your utility company’s grid is no simple DIY project. Be sure only to evaluate options provided by licensed and insured solar panel installers.
Contact our local New York solar experts and we’ll walk you through the whole process, from qualification to installation!
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Why Trust EcoGen?
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