NY Solar Credits

NY Solar Credits are Among the Best in the Nation

Rhode Island has been in the news this week, with the legislature moving to eliminate tax benefits for some solar projects. Tax incentives can reduce the cost of solar and improve the return over time. Without them, solar simply wouldn’t be viable for many families and businesses. If you’re on Long Island, you’ll have access to NY solar credits and a federal tax credit. Your potential savings are some of the highest in the nation.

It will take some time to see if Rhode Island repeals some of its most compelling tax credits. The damage to families and the solar industry in the state could be significant. While the situation is concerning, you can have confidence knowing that you’ll get some great incentives in your neighborhood when you install solar with Long Island Power Solutions.

How NY Solar Credits make Solar Power on Long Island More Affordable

There are a few key NY solar credits and incentives that can help you to get solar power on Long Island.

  • An income tax credit is available for residential installations. You can claim the New York State Solar Income Tax Credit, worth 25% of the total cost of your system, up to a maximum of $5,000.
  • The state also provides NY solar credits through NYSERDA. The New York State Energy Research Development Authority pays a direct incentive to the solar contractor based on the size of the system being installed. The amount is taken off the top of your bill.
  • In 2022, you can also claim a 26% Federal Solar Home Tax Credit. This figure is set to decrease to 22% in 2023, and new legislation will have to be written to extend it to 2024 and beyond.

The news from Rhode Island is a reminder that legislative support for solar credits isn’t guaranteed. In New York State you have access to generous NY solar credits. But, as more families move to solar power on Long Island and other areas of the state, the credits are likely to be decreased or removed altogether. Now is the best time to install solar, while the government benefits are available.

Credits Can be Applied to Financing for Your Long Island Solar Installation

We provide solar financing through our partnership with Sungage Financial. The financing is split into two parts.

  • An initial period is offered with no money down and is based on your expected tax credits. When you receive the credits, you’ll pay the initial loan.
  • The rest of the bill is dispersed across a second loan. You can choose the term so that payments are manageable. We offer low interest rates for solar financing.

With all of the tax credits and incentives today, Long Island solar installation is surprisingly affordable. It’s easy to enjoy electricity at home that is clean, affordable, and reliable.

Take Advantage of NY Solar Tax Credits and Save Big on Solar! Give us a call today to get started!

Long Island Power Solutions is an Experienced Solar Installer

You can have your Long Island solar installation performed by the most experienced professionals in the state. The team at Long Island Power Solutions will ensure that you get a reliable system designed around your needs.

During the consultation process, we will look at your bill history and average energy usage. Your system will be engineered so that most of your daily electricity needs can be met by solar. The energy that you don’t use can be exported to the grid. You’ll receive credits from your utility company for the energy that you export.

We can install additional features, like a solar battery if you want to improve reliability and the long-term return on your investment.

It all starts with your free quote. Choose the company that has installed more than 5,000 solar systems across Long Island. Start with your free estimate and find out how NY solar credits could help you make the switch in 2022.