Global Solar Demand is Surging – Get Installed with Residential Solar Financing
The International Energy Agency (IEA) released its latest Renewable Energy Market Report this month. There’s good news in it around our transition to renewable energy. According to the report, more than 300GW of renewable energy capacity will be added globally this year. 190GW of that will come from solar energy solutions. If you’re considering getting solar with residential solar financing, then the report even has some good news for you.
New York Solar Installation is the Most Cost Efficient Option
New York already has some of the highest energy prices in the nation. These are increasing as the grid ages and as the cost of traditional fuels increases. Skyrocketing fuel costs mean that a New York solar installation looks better than ever. Even with increases in the cost of shipping panels, solar is still the most cost-efficient option. With fuel prices likely to increase more in the coming years, especially with high inflation, a New York solar installation could generate serious savings for your family.
In the latest Renewable Energy Market Report, the IEA states that metals, silicons, and freight are leading to a slight increase in the price of an initial New York solar installation. The report also states that competitiveness remains the same because “prices of fossil fuels and electricity have risen at a faster pace since the last quarter of 2021.” The report notes that globally, the price of electricity has reached historic levels. If you’re in New York, you will know all too well what ludicrous electricity prices can do to your budget.
Residential Solar Financing Makes it Easier to Transition to Solar
At New York Power Solutions, we understand that the average family needs help to get installed with clean and reliable solar. Our residential solar financing is the easiest way to get solar to your home.
Our financing for solar panels is split into two terms.
- The first is interest-free with no money down for approved borrowers. We base this first term on expected New York solar tax credits and federal credits. When you receive your credits, you pay the loan in full.
- The second term is based on the remainder of your solar bill. We have access to the most competitive interest rates through our finance partners. You can choose a term that suits your needs so that repayments are affordable, especially within the context of paying an electric bill without solar.
If you want the easiest and most affordable pathway to a more efficient home, you can talk to us today for your estimate. We’ll work out a plan for residential solar financing that works for you.
New York Solar Tax Credits Offset the Cost of Installation
Federal and New York solar tax credits will significantly reduce the total amount that you pay for solar. Personal income tax credits, a property tax abatement program (within NYC), and a 26% dollar for dollar credit from the federal government are just some of the potential options available to you.
New York Power Solutions will work with you to determine which credits you are eligible for, before incorporating these into a plan for financing.
We are a NYSERDA Approved installer, which means that there will already be a credit applied before you even get your bill, based on the size of your system.
Get Solar Installed with New York Power Solutions
You can save money with solar and generate a return over the lifetime of your system. At New York Power Solutions, we provide a 25-Year solar panel warranty. Make a safe investment that gives you energy independence. Start with your free solar estimate and get affordable residential solar financing from the best installers in New York.