New York Solar Information

New York isn't a bad state for solar but far from the strongest. There is a state tax credit that reduces your income tax. Along with basically wiping out your state income tax although not required by the state the three major utilities servicing all of Idaho offer net metering. As always in Idaho you are entitled to the 30% federal tax credit.
  • #36
    New York ranks in America for savings from installing solar panels on
  • #5692.20 kWh
    AC Energy output every year in New York in 4 kW system
  • #4.72 kWh
    Solar Radiation (kWh / m2 / day)
  • 23 ¢ /kWh
    The cost of electricity today in Consolidated Edison Co of New York Inc
  • 49 ¢ /kWh
    If you don't get solar. The forecast average utility price over the next 25 years

California Solar Facts

  • $1.49
    Average cost of a 4kw solar power system in 2019.
  • 2 years
    Average system payback period.
  • $107 543
    Average lifetime savings.
  • 7 ¢ /kWh
    Levelized cost of solar energy.
  • 5 kW
    Recommended system size.

New York has been in the top ten solar states in the country for many years thanks to its great solar potential. Even though New York averages only 3.79 sun peak hours per day, which ranks it pretty low compared to other states in the nation, the Empire State expected to increase its solar installed capacity significantly due to improved solar laws and advanced technology. With the local government that shows such strong support for solar and New York sky-high utility prices, switching to solar is a very smart decision.

New York Solar Facts

  • New York was recently ranked #1 city for investing in solar power in the country
  • The state’s law requires that 70% of electricity should come from renewable energy sources by the year 2030.
  • New York passed a new law that mandates the addition of 6,000 MW of solar by 2025, which is enough to power over 4 million homes.
  • The cost of solar in New York keeps dropping every year. It has fallen more than 30% over the last 5 years.

The Cost of Solar Panels in New York

As of 2019, the state’s typical cost of solar panels per watt is $3.19/W. If you are planning to install a 6kW solar power system, you will pay, on average, about $19,000. This price does not reflect any rebates, incentives, or tax credits.

New York Solar Tax Credits

The Federal Investment Tax Credit – the government program that allows you to claim 30 % of the cost of your solar equipment and its installation on your federal taxes. It has no limit on its value.

New York Solar Tax Credit - New Yorkers can claim 25% of the total cost of their solar power system on their state taxes. This credit caps at $5,000.

Solar Property Tax Exemption - when the installation of solar increases the property value, homeowners are exempt from paying property taxes on that increased value.

Sales Tax Exemption - the residents of New York are exempt from paying 4% taxes on their solar power system and its installation.

New York Solar Incentives and Rebates

The NY-Sun Initiative – The program offers a rebate of $300-$400 per 1 kW of installed solar. This rebate is for solar power installations up to 25kW. A typical 5kw PV system would be eligible for a $1,500-$2,000 rebate.

The Megawatt Block Incentive Structure – This is a solar incentive program available under the NY-Sun Initiative. The program provides rebates for both residential and commercial solar installation and the amount depends on how much solar power is already being generated in the area where you live. The rebate can be as high as $1 per watt.

Net Metering Program – Net Metering is a state policy that requires local utility companies to measure your electricity generation and consumption. If you have any surplus of solar-generated electricity, it will be credited to your next bill at the retail rate. In New York, Net Metering is a statewide program and is available to all customers of any investor-owned utility companies. Net Metering is limited to provide service to solar energy systems up to 25kW in size.

  • How much do solar panels cost in New York
  • $1.49
    per watt
  • $6 691
    total
  • 2
    years

Pros and Cons of Buying Solar Panels in New York

Advantages:

  • +

    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.
  • +

    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.
  • +

    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.
  • +

    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.
  • +

    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.
  • +

    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.
  • +

    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.
  • +

    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:

  • -

    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.
  • -

    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.
  • -

    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.





According to Consolidated Edison Co of New York Inc, we received the cost of kWH in your area and calculated energy consumption based on an average electricity bill for 3 months.
I am claiming the 30% Federal Tax Credit (ends 2019) i

When you install your solar system, 30% of your project expenses apply toward a credit to offset any taxes you owe that year. This federal tax credit is a major incentive to go solar, but it is being phased out by 2022.

Most people are eligible to claim this credit (you must owe federal taxes to be eligible).

Relevant product for your system

Entry-level solar panels
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Entry-level microinverter
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Entry-level inverter
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  • Mini
  • Small
  • Medium
  • Large
We recommended
4.48 kW medium system size
Provides up to 80% of electricity consumption
$1.49 per watt
Average system cost
  • image rec 3
    14 x 325 watt
    solar panels
  • +
  • image rec 3
    14 x 300 watt
    microinverter
  • +
  • image rec 3
    1 x 5 000 watt
    inverter
$178.26
in month. Estimated savings
on your average quarterly bill
  • $6 691.21
    Estimated system cost
    Excludes 30% Federal Tax Credit.
    This price does not include the installation cost.
  • 2 years
    Average system
    payback period
  • $107 543.03
    Estimated utility savings

Example of 4 kW system calculation in Minnesota for electricity bill $100

  • 23 ¢ /kWh
    The cost of electricity today in Consolidated Edison Co of New York Inc
  • 49 ¢ /kWh
    If you don't get solar. The forecast average utility price over the next 25 years
  • 7 ¢ /kWh
    levelized cost of solar energy

Get the results of the calculation in the mail

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