Electric Vehicles Market to Grow by 24% by 2030
Electric vehicles in New York are rapidly growing, proving that there’s an increased demand for efficient and more affordable technologies. According to a report by Market Research Future, the EV industry will grow by 24.51% by the end of this decade. Demand is being driven by an increase in models available and a continued trend of higher gas prices.
The demand for electric vehicles has parallels with the market for solar power in New York. Both make use of clean energy concepts to solve everyday needs. And, just like EVs, the market for solar power in New York is growing.
Solar Power in New York Satisfies Consumer Demand for Cost Savings
Electric vehicles in New York have become more affordable in recent years, contributing to the recent surge in demand. Higher fuel costs mean that running an EV is often more affordable than purchasing gas at the pump.
We can draw a comparison to solar power in New York.
New York’s energy grid is old and often unreliable. With a New York solar installation, families enjoy more affordable electricity with lower utility bills. With the addition of battery storage during a New York solar installation, the system can even keep running when the grid goes down.
Just like EVs, more people are choosing New York solar installation because it:
- Saves money.
- Improves reliability
- Is better for the environment.
- Is an exciting modern technology.
The market for New York solar installation is more developed than the EV market and so is the tax framework. You can even take advantage of New York solar tax credits when working with the best New York solar companies.
New York Solar Tax Credits Make Installation More Affordable
In the early days of EV production, the government offered some generous tax programs for new car buyers. These have largely tapered off. Compare this to New York solar tax credits, and there are still several programs available to reduce the cost of installation.
New York solar tax credits are some of the best available.
- Solar power in New York makes homeowners eligible for a 20% tax abatement program claimed in 5% blocks over four years.
- The New York State Energy Research and Development Authority provides a per-kW rebate paid directly to New York solar companies. This is applied to your bill to make the installation more affordable.
- A state tax rebate is also available, equivalent to 25% of the system cost, up to a limit of $5,000.
New York solar tax credits are also complemented by a 26% dollar-for-dollar Federal solar tax credit in 2022.
Power Electric Vehicles in New York
You can begin the process to install solar with the help of New York Power Solutions. We have installed more than 5,000 systems throughout the state.
If you’re one of the millions of people who have invested in an electric vehicle, you can even charge your car using solar energy. You’ll enjoy the most efficient form of transportation without having to worry about the increasing cost of electricity in New York.
Solar makes sense because it’s affordable, reliable, and efficient. Electric vehicles are an important way for our society to reduce waste and emissions.
If you’re ready to learn more about solar power in New York, you can start with your free estimate from New York Power Solutions. We can provide a complete energy savings assessment with a detailed cost/benefit analysis. You’ll get all of the data that you need to make the right decision.
Get your New York Power Solutions free solar estimate now.