Will Government Investment Benefit Residential Solar Power Companies?
In the news this week we learned that the U.S. government has allocated billions to improve power transmission networks nationwide. A $2.5 billion revolving fund will help utility companies to connect renewable energy to the grid, potentially offsetting climate damage and reducing electric utility rates in some areas of the country. In New York, we’re sadly used to paying too much for electricity. We pay more than any other state excluding Alaska and Hawaii. The grid is old and outdated, and $2.5 billion, even if it were allocated just to our state, probably wouldn’t be enough to bring things up to an acceptable standard. That’s why so many New York residents are turning to residential solar power companies. The announced funding won’t affect rooftop solar, so the impact on residential solar power companies will be minimal. But it should be reassuring to know that you can get reliable New York solar today without having to worry about the state of the wider utility network.
More Investment is Needed to Bring New York Solar Down the Lines
The electric grid will need a massive overhaul to make it ready for renewables on a large scale. Solar and wind farms, geothermal energy, nuclear power, and hydropower, all require highly engineered solutions to get the electricity to consumers.
The rate of change is relatively slow. The team at New York Power Solutions is happy to learn that the government has added more national funding for the grid. But we also know that the best solution for families today is to install private New York solar.
Why New York Solar is the Best Way to Go Green
Residential solar power companies aren’t utility companies. At New York Power Solutions, we don’t supply electricity to your home. Instead, we install solar panels so that you can generate your own electricity. Panels run during the day, covering the electrical demands of your home. Excess generation is exported to the grid, helping the utility companies by providing clean electricity for other homes.
When you export to the grid, you receive credits under Net Metering. The more you export, the more credits you collect. These are then used for any electricity that you import during the evenings or when daytime production is low.
Even if your utility company takes some of its supply from renewables, a lot of efficiencies are lost in transmission. When you generate electricity from your rooftop, the conversion is more efficient and there’s a less overall waste. This is in addition to eliminating most of your carbon footprint by cutting the middleman out (the utility company).
New York Power Solutions can Help with Your NY Solar Tax Credits
There are several NY solar tax credits available that make the switch to solar more affordable. These can vary depending on exactly where you live in the state. For example, in NYC, there’s a property abatement tax credit available for you to claim up to 20% of the cost of solar on your residential property tax over four years. There are similar programs for people on Long Island and further upstate. We offer solar installation for these New York locations.
There are also incentives provided directly by NYSERDA, reducing the amount on your bill by directly funding the contractor.
There are also federal benefits to supplement NY solar tax credits. The U.S. government provides a 26% dollar-for-dollar income tax credit based on your solar installation bill.
Residential solar power companies need to have extensive experience to help their customers take advantage of NY solar tax credits. At New York Power Solutions, we aren’t just knowledgeable. We will take your credits into account when arranging your financing. Your credits can be used to cover an initial interest-free finance period with no money down.
You can learn about our financing model to see just how affordable solar can be.
Get Your Free Estimate from One of New York’s Best Residential Solar Power Companies
We are a leader among residential solar power companies, offering a stress-free way to transition to clean and reliable solar. Don’t wait for the grid to catch up. No amount of government investment can overshadow the benefits of rooftop solar for your family. Talk to the team at New York Power Solutions and get your free solar estimate today.