The U.S. Government is Investing in the Solar Battery Supply Chain
Solar Power on Long Island is more efficient with solar battery backup. With a solar battery, you can run lights and key appliances when the grid goes down. You can store and deploy electricity when rates are higher, so you’ll rely less on your utility provider.
To keep the U.S. market competitive, the government is now directly funding the production of materials used for solar batteries and electric vehicles.
New Loans for Key Solar Battery Materials
The Department of Energy has announced new funding through its Loan Programs Office this week. It will lend as much as $107 million to Syrah Technologies, a company that produces graphite solar battery materials in Louisiana. Graphite is a key component of Lithium-Ion batteries. The Energy Department also recently agreed to lend as much as $1.04 billion to Monolith, a company that produces hydrogen, carbon black, and other clean-energy materials at a facility in Nebraska.
This type of investment is important because it will protect America from rising material costs. Domestic production of materials used for batteries will keep the market competitive and protect the supply chain.
It’s good news for industries that rely on battery technology. It can also benefit American consumers, particularly those who choose to install battery backup devices with solar power on Long Island.
Do You Need Battery Backup with Your Long Island Solar Installation?
Solar power on Long Island is clean and efficient. It’s also inherently reliable. Reliability decreases as more demand is placed on the aging electrical grid. With a solar battery included with your Long Island solar installation, you can continue to use your appliances even when the grid goes down. A solar battery will also give you more versatility, with the option to deploy electricity during peak times when rates are higher. With the option for emergency power and smarter use of the electricity produced by your Long Island solar installation, you’ll enjoy a stronger practical and financial return.
New York Solar Tax Credits and Long Island Solar Companies
More investment in renewable technology is great news for industry and consumers. Solar is becoming more compelling for homeowners on Long Island.
New York solar tax credits can even be used to offset the cost of installation. This is another way that the government is helping to increase renewable utilization.
There are various New York solar tax credits available, such as an income tax credit equivalent to 25% of the installation cost, up to $5,000. Homeowners can also take advantage of the NYC Property Tax Abatement Program, allowing a claim of 20% of the installation cost over a period of four years. The New York State Energy Research and Development Authority also provides a rebate that is taken directly off the top of the cost of the system. This will be applied before your bill is finalized and is provided directly to the contractor and taken off the top of the total.
The best Long Island solar companies will consider expected tax rebates and credits when finalizing billing and financing.
Get an Estimate with Long Island Power Solutions
You can get a free solar estimate from Long Island Power Solutions today. Our team has connected more than 5,000 homes and businesses to clean and efficient solar. We apply expected New York solar tax credits directly to your financing. Credits are used to cover an initial interest-free period with no money down.
It has never been easier to get solar power on Long Island. Start with your estimate today and enjoy a cleaner and more reliable way to power your home.