Cost of solar in Bronx, NY

Electricity Consumption in Bronx

Electricity Consumption by New York residents averages 603 kWh per month. It ranks #5 in the nation for savings from installing solar panels on the home.

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Solar power in Bronx, New York

Soaring power prices in the Bronx has forced many homeowners to look to alternative energy sources such as solar. Thankfully generous state, federal and Utility incentives has made solar more affordable than ever for the average New Yorker.

What are Con Edison’s solar incentives for the Bronx?

Con Edison is currently in the second to last tier of their solar rebate program as the program is set to hit full capacity soon. ConEd currently offer a $300/kW rebate for residential solar customers alongside net metering. If you’re able to qualify for the NY-Affordable solar program your utility rebate will double. This would mean a standard 6kW solar system would receive a rebate of $3,600!

What is net metering and how does it affect my Coned electric bill?

At times such as during the middle of the day when solar generation is greatest, you will be producing too much energy for your home. A grid-connected solar system sends this excess energy to the grid, Net metering requires Coned to compensate you at the retail power rate for each kWh of energy your solar system sends them.

Net metering means you are only billed for the net of your consumption from the grid and the power your solar system exported.

What if my solar system exports more than I consume in a month?

If your solar system exports more energy to the grid than you consume in a month, the surplus will be carried over to your next bill still at retail value. If at the end of the yearly-billing cycle you have remaining credit, it will be valued at the avoided-cost rate about (3¢-4¢ per kWh) and paid directly into your account.

How can I eliminate my Con Edison average monthly bill?

There are several ways to reduce your Coned bill, such as installing energy efficient appliances in your home, or simply using less electricity. However none of these measures are likely to result in significant savings. The single best way to cut your electric bill is to install a solar system while generous incentives are still around.

What state tax credits are available for installing solar in the Bronx?

The state of New York allows for 25% of the cost of your solar system to be claimed as a deduction to your state income taxes, capped at $5,000 for systems under 25kW in size. This incentives is claimed as 25% of your solar system cost after claiming the Coned rebate.

What is the Federal ITC and how does it help me go solar in the Bronx?

The Federal ITC stands for the Federal Investment Tax Credit and allows for 30% of your solar system cost to be claimed as a deduction to your federal income taxes. Essentially this is a 30% discount for the cost of a solar system anywhere in the US.

What if I don’t owe as much in taxes as 25 or 30 percent of my system cost?

You may elect to claim the New York state tax credit in increments over up to 5 years, same goes for the federal tax credit except up to ten years.

How much does solar cost in the Bronx?

Based on feedback from our site you should be able to get a fully installed residential system in the Bronx with good quality components for less than $3.50/watt. This estimate would put a typical 6kW system at $21,000 before claiming incenitves.

Your rebate from Coned would be $1,800 (minimum) and you’d be eligible for a $4,800 state income tax credit. Assuming a federal income tax liability you may (after claiming other incentives) declare 30% of your remaining system cost as a deduction to your federal income taxes.

This would put the final cost of your solar system in the Bronx at only $10,080, over half of your investment is covered in incentives alone!

Even if you are not convinced about solar we recommend that at the very least you use the solar panel calculator to find out:

 

Estimate your solar savings

 

Solar power in New York

The average cost of installing residential solar panels in Bronx, New York in 2018 is $3.72 per watt. The average system size in the US is 6 kilowatts, which means the average price of a solar system in Bronx, NY is $18,600. (before claiming 30% tax credit and other rebates)

What does the cost of a real solar system look like?

Facts about installing a 2.56kW solar system in Bronx, NY

This system would offset 100% of your energy usage if your typical monthly bill is $106, however your situation may vary so try our solar calculator to get a result tailored to you.

$4,986

Net cost of system
Cash - after 30% solar tax credit

3 Years 8 Months

Average payback time

3,133
kWh

Annual power production


/kWh

levilized cost of solar energy

72¢
/kWh

If you don't get solar
The forecast average utility price over the next 25 years

Cash flow graph based on cash purchase of this 2.56kW system

Life-time savings on this system over the next 25 years

$49,442

(Prices shown after repayments of capital)

 


Solar calculator and quote comparison tool

Average total cost of solar panel installation in New York

System Size Cash purchase
After 30% solar tax credit
Financed purchase
After 30% solar tax credit
3kw $8,526 $9,208
4kw $11,060 $11,945
5kw $13,440 $14,515
6kw $15,624 $16,874
7kw $17,689 $19,104
8kw $19,600 $21,168
9kw $21,357 $23,066
10kw $22,960 $24,797

 

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Going solar in New York

Check out all of the ways energy providers of New York can help you be more energy efficient and save money.

The following programs are available:
Find your local rebates and incentives

Please keep in mind that the best source of up-to-date information on incentives are the solar installers who specialize in your area.