New York Solar Information

Pros and Cons of Buying Solar Panels in New York

Advantages:

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  Relatively short payback period

  The time it will take a homeowner to pay off the initial cost of the solar power system through electricity savings is known as the solar payback period. Nationwide, the average solar payback period is just under 8 years. Some of the factors that play a role in a shorter payback period are affordable solar costs, high electricity prices, or robust solar programs and incentives. As of today, the typical payback period for New York is only 7 years.
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  After the payback period, solar power is nearly free

  When your solar energy system is completely paid off, you will not only have access to free electricity but also can potentially make a profit by selling it.
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  Great savings on a monthly electric bill

  Once your solar power system begins degenerating electricity, you can expect to save a lot of money on your monthly utility bill. What it means is that you become less dependent on your local utility company and their utility rates, which are highly influenced by inflation. Over the course of 20 years, you can anticipate savings of around $30,000 if you install your solar power system in New York.
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  Helping the environment since solar energy is clean, sustainable, and renewable.

  Sun power is abundant and sustainable because the sun emits more energy than we will ever need. It is truly clean since there is no release of harmful greenhouses gases with its generation. Compared to traditional fossil fuels, which are limited and pollute our environment, solar energy is infinite and plays an important role in reducing our carbon footprint.
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  Support from the government and the state

  New York has a great support for solar from its local government. Today, the cost to install solar panels is much less than what it used to be a few years ago. With the tax credit from the federal government and incentives and rebates from the state, the price of the solar system as low as it can be.
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  Very low maintenance

  Solar power systems do not require a lot of maintenance. They only need to be kept relatively clean to prevent a buildup of dirt and debris. They do not have any moving parts, so there are not going to have any wear and tear. In addition, solar panels do not produce any noise when in operation.
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  Excellent warranty protection

  Today, each solar panel comes with two types of warranties: a product warranty and the performance warranty. Currently, more and more top solar manufacturers offer lifetime product warranties that take care of defective equipment and breakage and some guarantee optimal performance even after 25 years of usage.
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  Increase in the property value

  Installing a solar panel system will most certainly add value to your house. According to a recent study, homebuyers view solar panels as an upgrade and willing to pay more for a house with an installed PV system. According to another study, homes with solar power systems also sell much faster than homes without them.

Cons:

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  The possible high initial cost

  Many people concern about the price of the solar power system and its installation. Purchasing solar panels, battery, inverter, all the necessary accessories, mounting equipment and the installation itself can make the total cost of a solar power system relatively high. However, with the technology moving forward and the availability of excellent rebates, the solar prices in New York as affordable as never before. Moreover, going solar will start saving you money on your electric bill from day one.
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  Need to have a large, open area for installation

  The installation of an average size solar panel system of 5kW requires large, open space on the roof. That area has to be free of any shade from trees or other buildings for the solar system to generate electricity efficiently. If this condition becomes challenging for some homeowners they can still install the solar panels on the ground, provided PV panels do have direct access to sunlight.
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  Must be a property owner to install

  Today, solar power installation is mostly available to homeowners with good credit and good income. The solar benefits are not yet available to renters, people with low-income, or people without a job.

Is It Worth Going Solar In New York?

New York might not be the sunniest state in the country but it gets enough solar power to completely replace traditional utility. Moreover, the state has one of the most ambitious solar rebates and incentives, which combined with tax credits makes adopting solar a very financially attraction option. If you are a resident of New York State, you are fortunate to get one of the best deals for solar installation and make a very profitable investment.