New York Solar Facts:
New York City. Some might argue that it’s the most well-known city in the world. Well known for bright lights and opportunity. But what’s one thing that’s becoming more and more popular in New York City and New York State? Solar Energy and Solar Panels. New York is known for a lot of things, but many don’t know that it ranks 11th in the entire country in solar usage. Places like Long Island, Staten Island, Queens, Brooklyn, White Plains, Syracuse, Albany and other areas all across the state are powering the expansion of solar. With Governor Cuomo’s stated commitment to the NY-SUN initiative, the New York Public Service Commission (PSC) recently announced a 10-year, $1 billion commitment to creating a self-sustaining solar market in New York State. The cost of solar panels are also on the decline in New York. A little-known ‘fact is that the price of solar in New York has fallen over 47% in the last five years. And in addition to that, the cost for New Yorkers to go solar is $0 up front, $0 for install. That’s just one of the many benefits to going solar in New York. Check out our list below of just some of the advantages to installing solar panels on your home.
Take advantage of all the financial incentives such as:
· Energy rates typically increase 4% a year through utility companies. With solar, you are locking in a fixed rate that cannot increase. Thus, protecting you from an increase in rates from your utility company
· You can have your system paid off within 8-12 years if you choose to finance, and then your energy cost will be essentially $0 per month
· There are both leasing and financing options available, so we can come up with an option that best fits your situation
· The main utility companies switching to solar are: Con Edison, New York Power Authority, Central Hudson Gas & Electric, PSEG Long Island, Rochester Gas & Electric and New York State Electric and Gas. And don’t worry, if there’s a power outage or downed line, your utility company will still handle the problem just like they do now
· 30% Federal Tax Credit (ITC Tax Credit). In 2019 the credit is 30% and in 2020 it goes to a 26% tax credit. So act now and take advantage of the 30% tax credit while it’s available
· Currently, there are over 600 Solar Companies in New York. That’s why it is vital to work with Tru Power Solar Energy because we know the best of the best and will only put you in contact with the highest reviewed solar companies. That way you can avoid the headaches of potentially dealing with a subpar solar company
· If you sell your home and own the solar system, it will add value to your home. Because who doesn’t like adding value to their home?
· If you sell your home before the system is paid off, the new homeowners can take over the loan agreement or put the remainder of the loan balance in the cost of the home
There has been an 800% increase in solar between 2011 and 2016. Clearly, this is something that New Yorkers are growing accustomed to and taking advantage of the savings. It’s not just New York State where you can take advantage of solar, recently there have been huge expansions of solar panels into New York City as well. Blackstone Group is installing one of the city’s biggest solar projects, 3.8 megawatts at Stuyvesant Town and Peter Cooper Village on Manhattan’s east side. This is just one example of the hundreds of solar energy projects taking place in New York City. Don’t wait, reach out to Tru Power Solar Energy today and let us put you in touch with a solar company near you who can show you what you can save by going solar.