New York State Credit for Solar

How Safe are Your New York State Credits for Solar?

If you’re considering solar power on Long Island, various New York state credits can make the installation more affordable. State and federal credits can significantly reduce the cost of converting your home to solar. New York state credits are some of the most generous in America. If you aren’t quite ready to start with your Long Island solar installation, is it safe to assume that the credits today will still be available once you need them? Let’s find out.

Using California as a Comparison for New York State Credits

While New York state credits and those from other states aren’t directly comparable, there are still some learnings that we can take from around America.

In January, California announced that it would be lowering the incentives available for rooftop solar panels. California leads America in terms of residential solar installations. The state is lowering incentives because many families have already installed rooftop solar, so lawmakers believe that it’s no longer necessary to provide as much taxpayer-funded support.

But there are opponents to the new rules. Several groups lodged complaints with the California state government in  February, claiming that reductions in solar incentives favor utility companies and punish households.

Something similar could potentially happen in New York in the future. As more homes convert to solar, there will be less need to incentivize solar installations. If you want to get the best deal for solar power on Long Island, it makes sense that you should act sooner rather than later. There are generous New York state credits available today, but these could look very different in the next decade.

If you’re interested in Long Island Solar, please call us. We will walk you through the whole process of how to become energy independent!

What are the Incentives for Solar Power on Long Island?

If you look at the incentives today, it’s easy to see why they might disappear in the future.

  • There’s a state tax incentive that can return a credit based on the cost of your system.
  • NYSERDA provides a direct incentive that is taken off the top of your bill.
  • You can get a 30% federal tax credit when you install solar power on Long Island.

All these solar credits and incentives are designed to convince people to switch to solar. As more homes get solar, it will simply become less viable for the government to offer support.

The federal tax credit is funded for at least the next nine years. State credits could start to taper off at around the same time. Of course, this is just speculation, but it makes sense considering the goal of the incentives.

Checking Your Eligibility Before Long Island Solar Installation

Long Island Power Solutions can assist you to determine which credits and incentives are applicable in your case. If your Long Island solar installation will be at your primary residence, then chances are that you will have both state and federal incentive programs available.

We’ll look at your incentives and we can even use these to back an initial interest-free loan on solar installation. The loan will be based on expected tax credits. You can get a Long Island solar installation with no money down.

Learn About the Cost of Solar Today

New York state credits will be around for the foreseeable future but won’t last forever. If you’re even the least bit interested in solar, now is the time to learn about installation costs and financing. You can get a free solar estimate from Long Island Power Solutions. We’ll also provide you with a cost/benefit analysis so that you can see how solar will save you money over time.

Start with your estimate and see how Long Island Power Solutions can make it easy to switch to solar.

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