The Federal Rebate for Solar Will Keep Your Installation Affordable
Solar power in New York is a fantastic investment that can save you money. With a system that is carefully designed for your needs, you will even generate a return on your initial investment. There is no other home improvement that can create the same long-term value as solar power in New York. The cost of a New York solar installation has steadily decreased in the last two decades when comparing the cost to savings and energy generated. With a new federal rebate for solar, the real savings are even better than they’ve ever been.
Imported Solar Panels Will Become More Expensive in the Coming Years
The cost of solar has decreased over time, but there’s going to be a small bump in some areas of the market. In December 2022, a U.S. Commerce Department probe found that Chinese companies had evaded tariffs by exporting their solar panels from countries like Malaysia, Cambodia, Vietnam, and Thailand.
The U.S. government will start to impose tariffs as high as 35% on some imported panels, although this won’t happen until June 2024, thanks to a waiver that is being honored by the U.S. government.
What does this mean if you’re thinking about getting a New York solar installation? If you install after 2024, then the bill for the panels could be higher, depending on where the panels are sourced from. There are new solar panel facilities currently being developed in the United States, but it could be a few years before these make an impact on the market.
If you get your New York solar installation from a provider that uses panels that don’t evade trade restrictions, then the tariffs won’t affect you. In a report from the Commerce Department, it was found that some of the world’s best producers, including Hanwha Q Cells, weren’t evading tariffs.
Hanwha Q Cells is a supply partner of New York Power Solutions, so when you get installed with us, you’ll have confidence knowing that the prices of your panels won’t be affected by unscrupulous trade practices.
The Federal Rebate for Solar Power in New York
Choosing New York Power Solutions can ensure that you get a great deal for your New York solar installation. We provide fair estimates and we’re a NYSERDA-Approved solar installer, meaning that we meet the highest standards for technical excellence and customer service.
You’ll also be eligible for a federal rebate for solar power in New York.
The federal rebate for solar is worth 30% of the cost of your installation. It’s a tax credit that you can claim in the tax year after your solar installation is completed. The federal rebate for solar power in New York was made possible with the Inflation Reduction Act of 2022. It will be available for the next ten years.
Learn about the Cost of Solar with New York Power Solutions
The team at New York Power Solutions is ready to get started with your free estimate and consultation for home solar. We can provide a ballpark estimate based on satellite data, followed by a detailed consultation, on-site inspection, and final estimate. We’ll give you a cost/benefit analysis report so that you can see if solar is really worth it.
We’ll even calculate your expected federal rebate for solar, state rebates, and incentives, and work these into a no-money-down financing plan with an interest-free period. Solar can save you money from day one. Choose New York Power Solutions, the company trusted by more than 5,000 homes and businesses across the state so far.