Investing in solar is one of the best ways to make your home more efficient and more affordable. With support from both the Federal and State governments available, there has never been a better time to install. Federal and NY solar tax credits will significantly offset the real cost of your installation, allowing you a better return on investment over time. Learn about NY and Long Island solar tax credits and begin the consultation process with the team at Long Island Power Solutions.
Take Advantage of the Federal Long Island Solar Tax Credit
There’s a Long Island solar tax credit available for every family installing the first system at a primary residence. This program is sponsored by the Federal government and is available on Long Island and throughout the United States.
This Long Island solar tax credit is worth 26% of the cost of your solar installation. It is a dollar-for-dollar tax credit that significantly reduces the real cost of your investment. This credit will reduce to 23% in 2023.
NY Solar Tax Credits and Incentives
New York state also offers programs to make solar more affordable. A one-time state credit is worth up to $5,000 of the cost of your installation.
Homeowners can also take advantage of an NYSERDA (New York State Energy Research and Development Authority) incentive that is calculated per watt of installed solar, depending on your current utility provider. Our Long Island solar consultants will determine exactly how much you are eligible for with the NYSERDA rebate.
As a homeowner, you can also apply for NY solar tax credits under the NYC Solar Property Tax Abatement Program. You can get a deduction based on 5% of the cost of your solar installation for 4 consecutive years.
Some incentives are taken off the top of your bill while some are applied during tax season. NY solar tax credits and incentives are sometimes complex to navigate, so it’s important that you choose a solar provider with an understanding of current laws and programs.
Long Island Power Solutions will make it easy to get access to the rebates and incentives that are available to you. Talk to us today to learn about the cost of solar on Long Island.
No Money Down Solar Installation on Long Island
To keep things easier and more affordable for you, we offer no money down solar installation on Long Island. We split our no money down solar installation on Long Island into two financing periods.
- No money down solar installation on Long Island is based on your expected tax credits and rebates for the first tax year. At the end of the tax year, your rebates are applied to your solar financing. This allows for interest-free solar installation on Long Island.
- The remainder of the bill is applied to a second financing term. We have access to the best banks and solar financers on Long Island, so you’ll get a competitive rate over a term of your choosing.
Interest-free solar installation on Long Island means that more families can connect to clean, reliable, and affordable solar.
Join the SMART Solar Program
Long Island Power Solutions keeps solar affordable and convenient with the SMART Solar Program.
The SMART Solar Program includes:
- A free energy savings assessment with cost/benefit analysis.
- A 25-Year Warranty.
- Active monitoring for your installation.
- Convenient web and smartphone apps to track consumption and battery storage.
- Low-penetration racking and flashing to protect your roof.
- Long-term support from our solar experts.
Learn what solar would look like at your home and get a free estimate with a breakdown of your NY solar tax credits. The team at Long Island Power Solutions is ready to get started today.