New York State Solar Incentives
New York State has many available solar discounts, rebates, and tax breaks for residents who wish to power their homes & businesses with clean solar energy. The following guide covers everything you need to know about the latest NY State solar incentives.
If you don't have the time to read this article, simply enter your zip code below to see exactly which solar incentives your home qualifies for.
Find out if you qualify for New York savings programs!
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New York Solar Power
The average cost of traditional electricity in New York is about 24.9 cents per (kWh), which was 49.1% higher than the national average! The average cost for solar energy is about 10.5 cents per kWh. That's a potential 57% energy saving by switching to solar in NY.
But the amount you could save on your monthly energy costs isn't the only reason so many homes & businesses in New York are converting to solar energy. New York has many local solar programs and state solar incentives available to help NY State residents go solar, for less!
Solar Incentives NY
NY Solar incentives are the best way to reduce, or in some cases, eliminate the upfront costs of going solar in New York.
There are numerous types of solar incentives offered in New York including tax credits, tax exemptions, net metering policies, solar rebates, flexible financing options, and more!
Find out if you qualify for New York savings programs!
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The Megawatt Block Incentive Program
One of the most popular NY solar programs is The Megawatt block incentive program. This is a very thoughtful NY solar program devoted to New York residential, non-residential, commercial, and industrial sectors under the NY-Sun initiatives. The rebate program is offered in a dollar-per-watt mechanism.
That is, the incentive rate is very much dependent on the size of your system, the megawatt block, and your region.
NY State Solar Equipment Tax Credit
The NY state solar tax credit gives you up to a 25% discount on your total solar energy costs. However, users are limited to only $5,000 of NY state tax reduction. This is not to be confused with the Federal Tax Credit that is also available to New York residents.
NY Net Energy Metering (NEM)
Solar net energy metering in New York allows solar panel owners to receive credits for excess energy generated and fed back into the grid. This program promotes renewable energy use by balancing electricity consumption with clean energy production. Credits are applied to future utility bills, reducing overall energy costs for the solar panel owner. Net metering policies in New York are subject to state regulations and utility company guidelines, ensuring a fair and efficient system.
The Federal Solar Investment Tax Credits (ITC)
The Federal ITC, or Green Energy Tax Credit, gives a 30% discount on the cost of your photovoltaic (PV) solar system purchase before the end of 2032. The 30% discount includes the cost of equipment and its installation. However, the ITC incentives program is only available for those who purchase their solar system outright.
NY-Sun Initiatives
NY-Sun offers a wide range of support to make the solar system available for homeowners, businesses, and government officials. This organization serves as a camp; it combines specific programs by the NYSERDA, Long Island Power Authority (LIPA), PSEG Long Island, and the New York Power Authority (NYPA) to empower a cohesive force in the industry.
Properties and Solar Sales Tax Exemptions
The New York government charges a 4% sales tax on every good and product within the state, but solar panels are exempt from this sales tax! The NY state tax doesn't charge a dime for your solar equipment purchase and installation.
Find out if you qualify for New York savings programs!
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Get Professional Help with Solar Panel Installation in NY
It can be a challenge to navigate the plethora of available solar incentives in New York. EcoGen is an American solar company dedicated to helping NY residents navigate solar incentives and rebate programs and smoothing your journey to going solar.
Our team ensures you understand each solar incentive and rebate program available, the overall process, and the lowering costs of acquiring solar energy.
Contact EcoGen for a free consultation today; let's help you harness the sun's power to save you cash.
Want to see how much you could save with solar?
Our team will guide you through the best options for your home.
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