New York State Solar Panel Grants

Solar incentive and financing options.

New york state solar panel grants.

Nebraska new hampshire. New york state offers a unique on bill payment plan for people looking to go solar. Ny sun is an umbrella program for a number of solar industry support mechanisms in new york state including but not limited to the megawatt block incentive structure. With the average lifespan of a solar panel reaching beyond 20 years and electric bills being dramatically reduced or eliminated altogether these grants offer cost saving measures for those who need them most.

New york residential solar tax credit. New york state tax credit. A similar tax credit is available at the state level for systems up to 25 kilowatts in capacity. New york s residential solar tax credit is equal to 5 000 or 25 percent of the cost of your solar system whichever is less.

Guidance on determining federal and or new york state tax credit eligibility. Ny refundable clean heating fuel corporate tax credit program. New york energy grants rebates loans incentives. The second most important incentive for solar panel installations in new york is the state solar tax credit which allows you to potentially earn an extra 5 000 to put towards your taxes on top of the federal solar tax credit.

Those making the move to solar can take advantage of new federal grants loans and mortgage programs. Cost of solar panels. Click any of the boxes below to go to that section of the page or scroll down to read the page in order. Mi dte energy.

Ny nyserda green jobs green new york financing state loan program. Ny sun in conjunction with nypa also provides the backbone for the state s community solar and k solar programs. For additional information about residential financing we encourage you to consult the new york homeowner s guide to solar financing. Other new york solar programs and incentives the ny sun initiative.

It s simple and you get to own your system with 0 down. 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. 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. It is the only program that allows you to own your solar system while paying for the cost through your electric bill.

If your property isn t ideal for solar panels or you are not a homeowner community solar may be right for you. Finally the solar incentives section includes information about money back rebates and grants tax credits and tax exemptions for going solar in new york.