New York State Credits Can Help You Get Solar for Your Home
The State of New York continues to deploy more solar solutions that can offset climate change. In some areas, solar power has been integrated into the municipality. In White Plains, New York, the local government has deployed a 6.8MW community solar project that is generating more than $20 million for the city, while reducing the cost of electricity for nearby homes and businesses. On Long Island, rooftop solar makes more sense than community projects, and with New York State credits, you can get significant refunds for your investment.
You Won’t be Left Behind with Solar Power on Long Island
Community solar is one potential solution to offset carbon emissions. Community projects allow for energy to be distributed to nearby homes, reducing reliance on larger and inefficient power generation facilities.
Community solar can reduce the cost of energy for homes, but it can’t be considered an investment like rooftop solar power on Long Island can.
White Plains financed its community project and is now seeing the benefits. But homeowners won’t enjoy the revenue created by the system. This is because community solar is centralized and then distributed. Families can sign up for the project and purchase electricity, but they don’t have complete control over the solution.
Rooftop solar power on Long Island means that you’ll have the generation occurring at your home. You can even export the energy that you generate and receive credits on your utility account. Net Metering ensures that solar is cost-efficient over time. New York State solar credits make it easier to pay for the initial investment.
New York State Credits for Long Island Solar Installation
You can take advantage of several state programs as well as a federal incentive. Long Island Power Solutions can help you to determine the New York State credits that you’re eligible for.
- On the federal side, you can receive a 26% income tax credit in 2022, based on the cost of your solar system. This will reduce to 22% in 2023. Now is the time to talk to solar experts to get the largest possible federal credit.
- The New York State government also offers an income tax credit worth up to 25% of the cost of your system (up to a limit of $5,000).
- There’s also a subsidy paid under the NY-Sun Initiative. This varies depending on your current utility provider. It can significantly offset the cost of your solar installation. This subsidy is based on the size of the system.
Understanding all the available credits and incentives can be difficult. Our team will plan your Long Island solar installation and put any credits and rebates into context so that you can understand the true cost of solar.
We provide a detailed cost/benefit analysis for Long Island solar installation, so you’ll be able to see how the investment will work for you over time. Most solar panel systems will pay for themselves in savings within the first eight to ten years, depending on the size and your average usage patterns.
It’s easy to convert to clean energy thanks to our no-money-down financing with an initial interest-free period.
Decide if Solar is Right for You – Start with Your Free Estimate from Long Island Power Solutions
There’s no risk in a free estimate for solar panel installation. With the current New York State credits for solar, it’s more affordable than ever to go green. Community projects play an important role in America’s energy transition, but there’s nothing better than an investment in your home that will continue to return value over time. Get your solar panel estimate from Long Island Power Solutions today.