New York State Free Solar Panels

For additional information about residential financing we encourage you to consult the new york homeowner s guide to solar financing.

New york state free solar panels.

New york solar power rebates. The new york state energy research and development authority nyserda has a goal to support the installation of 3 175 gigawatts gw of solar panels by 2023. How much do solar panels cost in new york. It applies to you even if you went solar with a lease or.

First you don t have to purchase your system to claim the credit i e. Guidance on determining federal and or new york state tax credit eligibility. Loans leases and ppas pdf. With offices in hicksville farmingdale and ronkonkoma we are your local solar professionals.

New york state spent 958 6 million to build tesla inc s solar panel factory in south buffalo and buy a big chunk of the equipment inside. New york state already a leader in solar energy. Solar incentive and financing options. Here are four powerful ways to do just that.

The system must also be installed and used at your principal residence in new york state. As of september 2020 the average solar panel cost in new york is 2 91 w given a solar panel system size of 5 kilowatts kw an average solar installation in new york ranges in cost from 12 368 to 16 732 with the average gross price for solar in new york coming in at 14 550 after accounting for the 26 federal investment tax credit itc and other state and local solar incentives the. The state offers a balanced mix of good solar incentives and relatively high electricity prices that makes home solar in new york a very attractive financial investment. The solar energy system must use solar radiation to produce energy for heating cooling hot water or electricity for residential use.

Detailed information on available incentives and loans for residential customers going solar. The first trick to achieving nearly free solar panels in ny is to bring down the initial investment cost. The great advantages of the solar equipment tax credit are twofold. When it comes to home solar panels new york has long been one of the best places in the country.

Trust the experts for a hassle free experience. The new york solar tax credit can reduce your state tax payments by up to 5 000 or 25 off your total solar energy expenses whichever is lower. If your property isn t ideal for solar panels or you are not a homeowner community solar may be right for you. Is 6 kilowatts 6 000 watts the average cost of a solar panel system in ny state is 19 140 before any rebates or incentives.

Loan amounts are available from 1 500 to 25 000 with loan terms of five 10 or 15 years to help new york residents finance solar installation.