New York State has some of the highest incentives of any state. Net costs, after incentives, of a system are usually 20-50% of total system cost--including installation. This results in payback periods of roughly 4-8 years with corresponding returns on investment of around 8-25%--tax free!
COMERCIAL INCENTIVES
- $1.50 per Watt rebate from NYSERDA UP TO 50kW ($75k)
- 30% federal ITC (investment tax credit)
- 10% NYC property tax abatement (2.5% of total system cost for 4 years; NYC properties only)
- 50% year one depreciation then 10% per year til fully depreciated
- 3.5% of NYS sales tax exempt on PV equipment
- Net Metering (credited for energy pushed onto grid from solar system)
RESIDENTIAL INCENTIVES
- $1.50 per Watt rebate from NYSERDA UP TO 7kW ($10,500)
- 30% federal ITC (investment tax credit)
- 25% of total cost up to $5,000 off of NY State tax
- 10% NYC property tax abatement (for NYC properties)
- Sales tax exempt in NYS for PV equipment
- Net Metering
CALL OR EMAIL FOR CONSULTATION TO SEE WHICH INCENTIVES APPLY TO YOUR PROPERTY—AND HOW MUCH YOU STAND TO SAVE!
Some other important factors to consider:
Systems last from 25 -40 years as they tap into the sun's perpetual and renewable resource.
There are very few safe, high yielding investments that can compete with a solar investment.
Fossil fuel prices will continue to rise--count on at least 6% per year.