New York State Renewable Energy Incentives Work for You
Installing solar power in New York is more affordable thanks to New York State renewable energy incentives. And with the passing of the Inflation Reduction Act, a generous federal incentive is available for you.
If you want to offset the cost of your New York solar installation, now is the best time to get started. The team at New York Power Solutions is here to make it easy.
The Federal Tax Credit Under the Inflation Reduction Act
In addition to the New York State renewable energy incentives, the recently signed Inflation Reduction Act of 2022 will guarantee federal solar incentives for the next decade. Under the act, you can claim up to 30% of the cost of your solar installation on your federal income tax.
The Most Important New York State Renewable Energy Incentives
The New York State renewable energy incentives will significantly reduce the real cost of solar power in New York.
If you’re a resident installing a system paid outright, or through financing, you can claim the following incentives:
- A state tax credit worth as much as $5,000 of the cost of your system.
- An NYSERDA rebate is based on the size of your system. This incentive is paid to an NYSERDA-approved solar installer and taken off the top of your bill.
- If you’re in New York City, you can claim up to 20% of the cost of your system over four years on your property tax.
Understanding the available rebates can be complicated, so the team at New York Power Solutions will talk you through the available New York State renewable energy incentives to determine which are applicable in your case.
No Money Down Financing for Solar Power in New York
Some tax credits can be applied directly to your finance to cover an interest-free period. Financing with New York Power Solutions is split into two parts.
- The interest-free period is calculated using expected Federal and State tax credits. You pay this in full when you receive the credits.
- The balance of your bill to install solar power in New York is covered by a second loan with a competitive interest rate. You can customize the term so that the repayments suit your budget.
Federal and state incentives significantly reduce the money you pay out of pocket for solar power in New York. Our state is one of the friendliest in terms of the incentives offered to homeowners. To learn how much you could save, you can talk to one of our solar consultants today.
Your New York Solar Installation Can be Completed in a Single Day
Planning for your New York solar installation can take several weeks. Our engineers will design your system based on your unique needs and our initial consultation and site survey. We take care of the permits in-house, so you won’t need to fill out any additional forms.
Once the installation is scheduled, the actual physical work will take just a single day. We provide industry-leading turnaround times for New York solar installation.
Get the Best Solar with New York Power Solutions
Your ballpark solar estimate is waiting. You can apply on time and get an initial figure for your solar installation. We’ll get in touch to discuss financing and your New York State renewable energy incentives. A technician will visit your home for a site survey and final estimate.
It’s easier than ever to get solar for your home in New York. Trust the team at New York Power Solutions for solar done right.