Will Tariffs Contribute to Solar Cost?
It was revealed last month that the U.S. government was investigating China for evading trade tariffs on solar panels. There are accusations that companies in South East Asia are working on behalf of Chinese firms to produce solar panels and export them to the United States. U.S. Commerce Secretary Gina Raimondo announced last week that her department was accelerating an investigation into the situation. This could result in retroactive tariffs, depending on the findings. Tariffs on imported panels could potentially increase the solar cost in New York, although it’s likely to have the biggest impact on large-scale deployments by utility companies. Homeowners should be protected from the worst of any hypothetical tariffs that would come into place. Even so, news that the government is considering tariffs for panels made in South East Asia should be seen as a warning. The solar cost for installation is affordable today due only in part to large-scale offshore production.
New York Solar Companies Have Access to Large Inventories
Even as the government considers tariffs, it’s important to note that the best New York solar companies have access to the best suppliers with large inventories that are already in the United States. Duties on these panels are already paid and there should be no significant change in the cost in the short term.
New York Power Solutions is one of the leading New York solar companies, and we provide some of the most competitive rates in the industry with the help of our partners and solar panel suppliers.
With improvements in manufacturing, the solar cost has actually decreased over time. And with the help of New York solar tax credits and federal credits, now is the best time in history to get solar for your home.
Your New York Solar Tax Credit Keeps the Price Competitive
You have access to a range of tax credits and incentives. One of the most utilized New York solar tax credits is the New York Solar Property Tax Abatement program. Through this program, you can claim 20% of the cost of installation as an abatement on property tax. This is claimed in 5% increments over four years.
The New York State Energy Research and Development Authority also provides a financial incentive to install with a credit that is applied to the top of your bill. This is based on the size of the system that you install. You need an NYSERDA-Approved installer to get this credit for your solar installation bill. New York Power Solutions is fully accredited.
You can learn more about New York Solar tax credits with our team.
New York Power Solutions and the SMART Solar Program
The government is considering tariffs for solar panels imported from countries like Vietnam and Malaysia. While this has the potential to increase the overall bill, the best installers already have programs in place to manage costs.
At New York Power Solutions, we sign every customer up for the SMART Solar Program. This program helps to manage the cost of both the installation and long-term ownership of solar panels. It includes detailed planning, free cost/benefit analysis, and ongoing monitoring and maintenance so that panels return incredible value.
Every system that we install is covered by a 25 Year Warranty.
Get the Fairest Quote on Solar Cost from Our Team
Solar cost is still affordable, and your system can actually return money over time. The solar panel market could change in the future, but you can get moving with your installation now. You don’t need to stress about what tariffs could mean in the long term. Talk to our team, get your free solar installation estimate, and enjoy clean and reliable solar for your entire home.