New York State currently offers solar incentives for homeowners who choose to switch to solar.
And with some of the highest utility rates in the nation, these incentives help most New Yorker’s who switch to solar to save money on their electric bills from day one.
New York State Tax Credit
The New York State tax credit is an incentive available for solar customers in NY. Both those who choose to purchase their solar system, and those who choose to lease their solar system can take advantage of this tax credit as long as they have the tax appetite to do so. The NYS tax credit can cover 25% of your solar project costs, capped at $5,000.
What does this mean for you? Typically, if you pay in at least $5,000 in taxes to NYS over the course of the year via your weekly paycheck or otherwise, the tax credit will first deduct from any amount you owe to the state in taxes, and then any remaining balance will be issued as a refund to you when you get your tax refund check from the state. You can also roll the tax credit over into multiple years if need be.
Please note however that we are not tax accountants, and do not claim to offer any tax advice. You should always speak to your tax adviser or accountant to see how this tax credit will apply to your unique circumstances and if you will be able to take advantage of it.
Net Metering
Net Metering is the system by which you are able to “roll over” the extra energy your solar system produces at peak times, like during the summer and on sunny days, for later use when your system is not able to produce or produce as well, like at night or on bad weather days.
Net metering allows your solar system to cover up to 100% of your electric consumption, even though it obviously cannot produce energy all the time.
Your electric company “banks” your extra solar credits for your needed later use.
Net metering does not cover you however in the case of a power outage. For this protection you would need to pair batteries with your solar system.
Learn More About Solar Plus Battery Storage Here.
It may also be helpful to note that there is no tax charged on solar panel installations, and they will not increase your property taxes in the majority of the state. They will however increase your home’s value.
Learn More About how to Increase your Home’s Value with Solar Here
Solar Incentives: $500 Referral Program
Last but certainly not least on the solar incentives list is our referral program. At NYSSF we will mail you a $500 check for every single referral you send our way that goes solar with us. No exclusions, no gimmicks, it’s truly that easy. This can be a great way to earn some extra cash, while helping your friends and family to save money on their utility bills and go green, which in turn helps the health of our planet. A major win-win for everyone!
To submit your referrals you can give us a call at 845.255.0610, or just send us an email at info@nyssf.com with your referral’s name and contact information. The one thing we do ask is that they have a genuine interest, and that you let them know they will be hearing from us. Thank you!
Solar Panel Installer NY
At New York State Solar Farm, we take pride in our extensive history in the state of New York and our excellent client testimonials.
Your search for a reliable New York solar panel installer ends here! Let’s start you off with a free consultation – no cost, no-obligation, all good!