Rhode Island Legal Battle Underscores Importance of New York Solar Rebates
In New York, we can take advantage of several rebates and tax credit programs to improve the affordability of solar. New York solar rebates can dramatically reduce the cost of installation, making it possible for more families and businesses to make the switch.
But the same legal frameworks don’t exist everywhere. There are some states that are fighting to keep solar incentives alive. Rhode Island legislators are currently struggling to keep tax breaks available for large solar projects.
Tax Incentives are Generous for Solar Power in New York
Within Rhode Island, solar developments are allowing municipalities to save between 28% and 35% on their electric utility costs. But with changes in the state legislature, new taxes on solar developments could erode these savings.
This disincentivizes solar investment and it’s a roadblock that many states face. A minority of lawmakers are attempting to keep tax rebates in place with a preferential tax for all renewable energy projects. Depending on how this develops, solar could become less viable in Rhode Island.
New York residents and businesses have a legislature that understands the potential of solar and its importance for both cost savings and reduced environmental impact. There are New York solar rebates available for your home solar installation.
- For solar power in New York City, residents can take advantage of a Property Tax Abatement program that essentially refunds up to 20% of the cost of a solar installation.
- A state income tax rebate helps to offset the cost of solar power in New York.
- NYSERDA provides a New York solar rebate directly to the contractor, which is taken off the top of the bill for the customer.
- There’s also a federal tax credit worth 26% of the cost of the system in 2022.
We will be watching the situation in Rhode Island closely. A solar industry supported by lawmakers is beneficial for taxpayers. The legal frameworks within individual states can help inspire changes nationwide.
We Can Help You Understand the Rebates You’re Eligible For
At New York Power Solutions, our team is knowledgeable about the current legal framework and the available solar rebates. With your estimate, we will calculate the likely rebates and credits that apply to your New York Solar Installation.
We can also apply your expected refunds to no money down financing for solar power in New York. An initial interest-free period can be paid in full upon receiving your credits and rebates. The remainder of the bill can be financed with a loan and term of your choosing. We’ll help you with financing that works for your budget.
A solar system from New York Power Solutions can provide a strong return on investment. Most systems will pay for themselves in savings after the first eight to ten years of operation. We are partnered with Sungage Financial to ensure that more families have access to clean and reliable solar at home.
Start with Your Free Estimate for New York Solar Installation
We have completed more than 5,000 New York solar installations and your home can be next. Enjoy a turnkey service where everything from the design and engineering to the maintenance and warranty is handled by a leading solar company.
You can get your free estimate for New York solar installation today. With the generous New York solar rebates available, now is a better time than ever to switch to clean energy.