Solar Panel Rebates Ny

The state offers a balanced mix of good solar incentives and relatively high electricity prices that makes home solar in new york a very attractive financial investment.

Solar panel rebates ny.

An average sized residential solar system about 400 square feet of solar panels costs 18 000 according to the solar energy industries association an industry group. All of the financial benefits listed below go to the owner of the solar panel system. The program provides an up front dollars per watt w rebate for both commercial and residential solar panel systems. New york state plans to take over management of a popular solar panel rebate program long handled by lipa and more recently pseg long island with a road map to end rebates in 2017 or sooner the reba.

In 2014 new york announced a new strategy reforming the energy vision rev to strengthen and modernize the empire state s energy system through rev the clean energy fund cef was developed to provide funding for programs such as ny sun a leader in solar funding and financing options. Ny sun makes going solar easier and more affordable for new york residents. The system must also be installed and used at your principal residence in new york state. The tax break reduces.

Ny sun works directly with solar contractors and developers to offset the cost for new york residents to go solar. The credit is equal to 25 of your qualified solar energy system equipment expenditures and is limited to 5 000. New york s megawatt block incentive is a direct generous incentive for solar energy available under new york s ambitious ny sun initiative. If you buy your system in cash or with a solar loan that means you also get the tax credits rebates and srecs for the system however if you lease your system the third party owner will receive all of the solar incentives.

New york has long been a leader in installed solar capacity. New york solar power overview. Ny sun brings together and expands existing programs administered by nyserda long island power authority lipa pseg long island and the new york power authority nypa to ensure a coordinated well supported solar energy expansion plan and a transition to a sustainable self sufficient solar industry. The solar energy system equipment credit is not refundable.

If you live in new york and are thinking about going solar you should know that thanks to the many financial incentives available 2020 is an excellent year for you to install solar panels. We offer incentives and financing options to lower the cost of purchasing and installing solar at home. When it comes to home solar panels new york has long been one of the best places in the country.