Solar Incentives in NY and the Latest News on Solar Tariffs

At the close of last week, the U.S. House of Representatives voted to reinstate tariffs on solar panels imported from Southeast Asia. Specifically, this will affect panels from Cambodia, Vietnam, Thailand, and Malaysia. This is where 80% of America’s supply is sourced from. Reading the headlines, you might have some questions about your solar incentives in NY. Will the news affect your bill for solar?

The short answer to this question is no. Solar tariffs have been waived for these countries, ensuring that America has affordable access to reliable solar panels for a period of two years. President Biden initially waived the tariffs and has vowed to veto any repeal that comes from Congress. Even if the Senate votes in line with the House, these tariffs will still be paused until June 2024.

This is important for the wider solar industry. When you get solar power in New York, the components are sourced domestically and internationally. There are complex supply chains that make up the solar industry. While panels are largely sourced from overseas, other components used for your New York solar installation are sourced domestically. Tariffs on panels could increase the cost of installation somewhat, but overall affordability will still be high, thanks to a general decline in wholesale panel cost.

When factoring in your solar incentives in New York, now is one of the most affordable times in history to get solar installed, and tariffs won’t do a lot to change that.

What Will Happen When Tariffs are Reinstated in 2024?

President Biden placed a hold on solar tariffs not only to ensure affordability but also to give time for the domestic manufacturing industry to catch up. It’s just one part of a complex plan, supported by legislation. With residential solar incentives, and commercial incentives available throughout the nation, the current Administration is working to stimulate the solar economy.

Notably, there are significant tax benefits for solar manufacturers who build new facilities in America. We’ve already seen this in action with new solar panel plants popping up in areas like Georgia and Texas. Once the solar panel tariffs are reimplemented, America will have a stronger domestic manufacturing industry, which will help to keep costs competitive, while also eliminating some of the supply chain constraints.

Some of the world’s largest manufacturers, including Q Cells, have already built massive solar panel plants in the U.S., thanks to recent tax incentives.

Solar Incentives in NY Applied to your New York Solar Installation

You can use solar incentives along with our easy no-money-down solar financing plans.

Incentives like your state tax credit and Federal solar tax credit can be applied to no-money-down solar financing, with an interest-free period. When you receive your credits, you can pay an initial loan in full and then move on to a standard loan for the remainder of your bill.

There are also direct incentives, like a NYSERDA incentive that comes off the top of your bill. You can learn more about solar incentives in NY when you have your detailed consultation with New York Power Solutions.

Get a Free Online Estimate for Solar Power in New York

At New York Power Solutions we are ready to prepare your free solar estimate and consultation. We’ll also provide a cost/benefit analysis so you can see how your investment in solar will pay off over time. Solar incentives in NY help make solar more affordable, and there’s no risk of losing them, no matter what happens with solar tariffs in the news. Choose the most experienced solar installers near you and enjoy our stress-free approach to bringing clean energy to any home.

Start by Learning About the Solar Installation Cost in Mahopac NY

The first step is your free online solar estimate. We’ll take everything from there and ensure that the process is smooth and stress-free. When you know what to look for in a Mahopac NY solar company, it’s easy to choose the best.

Start with New York Power Solutions and enjoy the end-to-end service that has impressed thousands of New York families so far. With competitive rates and easy no-money-down financing, there has never been a smarter time to convert your home to renewable energy.