Solar to the People – Helping you get the best price on solar

Solar Power in New York

Discover how much you can save today with our solar calculator

Your average monthly electric bill
$0
$500
$0

How Solar to the People Works

Energy costs in New York are some of the highest in the country.  As these expenses skyrocket, more and more people are switching to solar in New York. Deciding to install solar for New York homeowners has become a no-brainer. Thanks to significant financial incentives and decreased cost to produce and install panels, solar energy in New York has become a viable, cost-effective solution to rising energy prices.

New York Solar – What You Should Know About Solar in the Empire State

Solar energy is no longer only for people who are concerned about the environment. Today, most homeowners who install solar in New York do so because of the tremendous financial benefit of escaping rising energy costs. Purchasing a solar installation will pay for itself within a few short years – after that, it will continue to produce free energy for your home.

The facts

  • Through 2016, enough solar has been installed in New York to power 152,000 homes, making it #10 in state installations across the US!
  • New York State has some of the highest energy costs in the country – 36% above the national average
  • The price of solar has dropped rapidly, with an average solar system in New York costing $16,426 in the first half of 2016

The Cost of Solar Panels in New York

Average cost to purchase solar in NY in 2016: $16,426

The cost of solar panels in New York has dropped massively. There are generous solar incentives, a variety of financing options and added benefits such as net metering (allowing you to sell extra power produced back to the utility), which make solar panels in New York a highly attractive and very low cost choice for homeowners.

Solar prices in New York have dropped dramatically:

The cost of New York solar has drastically decreased over the past few years thanks to price drops in the manufacturing of solar panels and new roof-mounting technology which has significantly decreased installation time. The shorter an installation is, the less money you have to pay the installer.

Average system size has increased by 53% since 2010!

Average system size has increased for installations of solar panels in New York

Average systems today: 7.3 KW, while average systems in 2008: 5.7 KW – as solar has become more and more economical for New Yorkers, homeowners have purchased larger and larger systems.

Enough solar to power

152,000

homes in New York  through was installed through 2016

New York electricity prices are

36% 

above the national average, some of the highest in the US

Solar Prices Continue to Drop

$16,426

was the average price of solar system in New York in 2016

Why are so Many Empire State Homeowners Switching to Solar?

  • New York is one of the most expensive states for electricity
  • A variety of incentives and rebates are available which reduce the cost of solar
  • In New York, solar provides significant savings over traditional power

The growth in the size of New York solar installations can be attributed to lower total system costs and the variety of financing choices available. Residents who may not have been able to pay for a solar system upfront can now choose from loans, leases or power purchase agreements to fund their decision to switch to clean energy.

 

How Much Solar Potential Does New York Really Have?

  • Insolation, or sun exposure, varies by region. Many people are unsure if solar panels in New York make sense, since it isn’t thought of as an extremely sunny state. Let’s compare the numbers:
    • Solar panels in New York produce approximately at 4.0 to 5.0 KW per hour
    • In California’s cities, solar energy is produced at roughly 5.5-6.5 KW per hour

    This means that New York gets roughly 75% the sun of California – which is plenty for solar panels to work extremely well.

Does New York Solar Make Cents (and Dollars)?

The initial cost of installing panels has been a barrier to residents in the past; however today there are a variety of incentives and rebates which can reduce the cost of solar tremendously. New York solar incentives are some of the best in the country. The following links explain some of the tax credits and incentives available to help offset the cost of solar in New York:

  • Federal Tax Credits: Obviously, this isn’t a state credit, but generally it is the largest tax credit available – it provides you with a credit equal to 30% of the costs of installing your solar system.
  • New York Solar Energy Equipment Tax Credit: This state income tax credit will provide you with a 25% credit on the system’s cost, up to $5,000.
  • NY-Sun rebate: Installers receive rebates they pass directly on to homeowners based on the size of the system installed the “Tier” of the program they are in.
  • Net Metering: Any excess energy your panels produce over what you use is purchased by your electric utility.
  • New York Solar property tax exemption: Most municipalities in New York exempt solar panels from property taxes.

What are the options for homeowners in New York to pay for solar?

Fortunately, for homeowners looking to install solar in New York there’s a solar financing option for every budget. Today, the average cost of a solar installation in New York is $16,426, after rebates and incentives. So how do people pay for solar on their homes?  Out of the choices available for solar power in New York, only a full cash purchase requires a large lump sum up front. PPA, leases, or loan each provides a range of options to fit the needs of any homeowner.

  • Solar Cash Purchase: just like it sounds, pay for solar panels up front, all at once. The panels, the power, and the incentives are yours.
  • Solar Loan: A very popular way to go solar with zero down while owning your solar panels, as well as all associated incentives and rebates available in your area.
  • Solar Leases and Solar PPAs (Power Purchase Agreements): In both of these situations, a solar company installs and maintains the solar panels, and you enter in a contract with them. Leases and PPAs are generally lumped together for explanation purposes because the economics to the homeowner are essentially the same. Leases and PPAs have fallen out of favor because, frankly – getting a loan is a far better deal. 

Ready to See How Much You Can Save with Solar?

Interested in getting exact prices for the cost solar for your home? Get competitive solar quotes from qualified, trusted installers in your area. To see an estimate for how much you could expect to save and how much a solar system would cost, try our solar calculator.

How Solar to the People Works

Discover how much you can save today with our solar calculator

Your average monthly electric bill
$0
$500
$0

Solar doesn’t have to be confusing

Check out our Guide to Home Solar, everything you need to know about solar, in one place.

Start typing and press Enter to search