How Government Support Can Help You to Get LI Solar
A Long Island solar installation can give you real energy independence with savings that last for decades. With the help of government incentives, solar power on Long Island is more accessible than it has ever been. The government continues to fund new solar initiatives nationwide, helping America to make one of its most significant energy transitions ever. Here’s how the government can help you to get LI solar.
A Direct Incentive for Solar Power on Long Island
When you choose a NYSERDA-Approved solar installer, you can have access to a direct incentive that comes off the top of your bill.
The NY-Sun program provides an incentive based on the total output of your solar system. The incentive depends on the size of your system as well as your current utility provider. Long Island Power Solutions is a NYSERDA-Approved solar installer. We’ll calculate the value of the incentive before the billing is finalized, so you’ll know exactly what you’re getting off your bill.
State and Federal Income Tax Credits
Your Long Island solar installation will also be covered by State and Federal income tax credits. The state tax credit is worth up to $5,000 of the cost of your installation.
The Federal tax credit is one of the most significant ways that the government can help you to get LI solar. It’s worth 30% of the cost of your solar system. This credit was made available with the Inflation Reduction Act of 2022. It is funded for the next nine years. This one will offset the cost of your installation, making solar more affordable than it has ever been.
Tax credits can be used to calculate an interest-free period on our no-money-down solar financing. Your financing will be split into two terms. The first term is based on a loan that’s equal to your expected tax credits. Once the initial interest-free loan is paid, the financing will switch over to a term that you choose. We offer financing through Sungage Financial, a leading solar financing company in New York. The application process is simple, and the interest rates are competitive.
We’ll help you to work out the best financing structure that suits your situation. With the help of tax credits and our easy no-money-down solar financing, you can install your first solar panel system with maximum savings.
The Government Just Invested Millions More into the Solar Industry
In addition to ongoing tax incentive programs and funding efforts, the Federal government just allocated another $80 million for solar energy in America.
The money will go towards community solar initiatives as well as solar panel production. The U.S. has recently stepped up its push to bring more solar manufacturers to the domestic market. This will reduce the nation’s reliance on overseas producers, primarily based in China and Southeast Asia. Attracting more manufacturers will create jobs in production, eliminate supply chain issues, and should help to keep solar panels affordable.
The cost of home solar is more affordable than it has ever been. This is thanks to government incentives as well as a general downtrend in the cost of producing high-efficiency solar panels.
Start with Your Free Estimate for Solar Power on Long Island
The team at Long Island Power Solutions is ready to get started on your free estimate for solar power on Long Island. LI solar will give you month-to-month savings and even protection from grid outages if you add a solar battery backup system. We can customize your system to suit your needs. Get started on the consultation process today and start your journey toward true energy independence.