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