Solar by State

New York

Incentives Make Solar More Affordable Than Ever

The combination of government and utility incentives can drive down the cost of your solar installation by more than 50%! Federal, State, and Local governments, along with utilities, are pitching in to lower the cost of home solar power because solar is a great investment for them as well as for you. If you choose to lease your solar system, you still benefit because most of these incentives transfer to your system owner. The incentives require some paperwork, which Astrum Solar will take care of for you.

Federal, State and Local Rebates

Federal Rebate

The Federal rebate is very straightforward. It is 30% off your installation price. It’s a simple one page form that attaches to your Federal tax return and you will get your money as a tax rebate. There is no risk money will run out.

NYSERDA Solar Electric Incentive Program

The New York State Energy Research and Development Authority (NYSERDA) residential state grant amount is $1.50 per watt for the first 7 kW of installed capacity, with a maximum grant of $10,500. The funding comes from the New York State Renewable Portfolio Standard and the goal of the program is to install 82 MW or 93,806 MWhs of solar electric power systems. Grants are also available for not-for-profit and commercial solar PV installations. Incentives are granted on a first-come, first-served basis and applications will be accepted through December 31, 2015, or until funds are fully committed, whichever comes first.

These grants are available only to those who use approved installers, and Astrum Solar is a NYSERDA incentive program approved installer. For more information see the NYSERDA website. Long Island Power Authority (LIPA) customers are not eligible for the NYSERDA incentive program as LIPA offers its own rebates for solar installations.

Residential State Income Tax Credit

New York residents are offered a personal income tax credit equal to 25% of the total installation and labor costs, with a maximum credit of $5,000. Only systems up to 10 kW are eligible.

LIPA Solar Pioneer Rebate

The LIPA solar rebate for homeowners is $1.75 per watt for the first 10 kW of installed capacity, with a maximum grant of $17,500. Homeowners must be a residential electric customer located in LIPA service territory. Rebates are available on a first-come, first-served basis for new PV installations. For more information see the LIPA website.

Solar Renewable Energy Credits

Most states have laws requiring utilities to produce a percentage of their electricity using renewable sources of energy (or pay a fine to the state). The utility can meet this requirement by buying Solar Renewable Energy Credits (SRECs) from solar homeowners. It’s a win-win-win situation! You get money from the utility for putting up solar panels, the utilities don’t need to become experts in adding solar to roofs, and the state gets more solar installations.

The renewable portfolio standard goals adopted in New York do not include any special provisions requiring solar energy. At this time there is no requirement for utility companies in New York to purchase SRECs and thus SRECs have no value in New York. The New York Public Service Commission has indicated that it supports a transition to a system similar to those in other states. For customers in states with an SRECs market, Astrum Solar aggregates SRECs and sells them to utility companies. SRECs prices are not fixed but negotiated, and Astrum Solar, as one of the top SRECs aggregators in the U.S., has the leverage to get the best value for our customers.