New York

Why Go Solar in the State of New York?

New York is ranked as 10th on the US National solar rating. Solar energy New York & other renewable energy sectors have flourished during the last decades, harnessing carbon free energy and creating solar jobs. Using different incentives, New York aims to make solar more attractive and affordable. The incentives include Federal Solar Tax Credit, New York State Solar Energy System Equipment Credit, NY-Sun Megawatt (MW) Block Program, Solar Electric Generating System Tax Abatement (SEGS), and Sales Tax Exemption. New York solar panel system can make you energy
independent. Moreover, you can save you a lot of cash over its life time. The state has made a dedicated effort to make investing in solar an easy choice for energy-conscious consumers.

National solar ranking

10th
(10th in 2020)

Solar Installed (MW)

2,724.4

Solar installed to power

455,585 homes

Percentage of State’s
Electricity from Solar

 

2.46%

Solar Jobs

10,740

Total Solar Investment in State

$6.5 billion

Prices have fallen

45% over the last 5 years

Growth Projection and Ranking

 

4,475 MW over the next 5
years (ranks 5th)

Number Of Installations

141,106

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Is going solar worth in New York?

The New York solar panel system installation ranges from $12,198 to $16,502. The cost per watt ($/W) ranges from $2.44 to $3.30. The average New York commercial electricity rate was 14.09 ¢/kWh which is approximately 36% higher than the national average. The New York solar panel user can enjoy the return on investment in 9.09 years.  Moreover the state had 1,528 Blackouts in the past decade.

Many users prefer cash purchase pay for solar, which delivers a long-term value to the customers. The users can opt for different financing options to afford installations, including solar leases, PPAs, and solar loans.  

What solar panels should I install in New York?

The user can customize their solar panels according to their needs and demands. They can choose the batteries and aesthetic of the installation. The customizability increases the importance of understanding the various factors that can impact the solar panel’s performance. The solar panel with warranties and premium performance is more expensive. On the other hand, an in-depth analysis is required if high-efficiency solar panels and warranties can fit your needs. 

How much energy can users generate in New York?

Your solar panel performance depends on the quality and quantity of sunlight directly hitting your solar panel. New York is one of the sunniest states in the U.S. On average, New York has 224 sunny days annually. The state is known for its rain, sleet, hail that falls to the ground, and snow. The other factors which can have an impact on the New York solar panel system include the following: 
  • Shading 
  • Panel orientation 
  • Panel angle 
New York Weather Highlights

Summer High

The July high is around 84 degrees

Winter Low

The January low is 26

Rain

Averages 47 inches of rain a year

Snow: 

Averages 25 inches of snow a year

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Rebates and incentives

The federal Investment Tax Credit has been one of the most impactful and reliable incentives for solar across the U.S. the user can deduct 26% of the total system cost from his/her federal taxes. This good incentive lasts until the end of 2022, and from 2023 the tax credit amount steps will decrease to 22%. The federal ITC is eliminated for residential solar installations after 2023, but commercial solar energy system owners can still deduct 10% of a retail solar system cost from their taxes beyond 2023. Apart from the federal ITC, New Jersey offer additional incentives for going solar, including the following: 

Federal Solar Investment Tax Credit

26% federal solar tax credit is available for home solar systems installed by December 31, 2022

New York State Solar Energy System Equipment Credit

25% of the final cost of the home solar system.
(Up to $5,000)

NY-Sun Megawatt (MW) Block Program

Eligible homeowners can receive up to $1,000 for every kilowatt (kW) of solar power installed

Solar Electric Generating System Tax Abatement (SEGS)

Property tax exemption on the added home value from the home solar system.

Sales Tax Exemption

4% home solar system state sales tax exemption.

Conclusion

If you are living in New York, it is the right time to get solar. You can harness solar energy if the solar panels are getting enough sunlight. Moreover, the panels are placed in a direction where PVs can receive sunlight quickly and continuously. The number of hours the sun shines in the region is also critical. Furthermore, the state is going the extra mile to offer attractions and incentives to promote solar energy. If you want to go solar in New York, wait no more. We, with our team of skilled experts, can make the process easy and convenient. Wait no more, and lets us serve you with excellence.