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!
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 a big part of your solar system cost to be claimed as a deduction to your federal income taxes. Essentially this is a federal discount for the cost of a solar system that is available anywhere in the US.
Net Metering Broken Down
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.
The average cost of installing residential solar panels in Bronx,
New York in 2020 is
$2.78 per watt. The average system size
in the US is 6 kilowatts, which means the average price of a solar system
in Bronx, NY
(after claiming 26% tax credit and other rebates)
The 26% federal solar tax credit explained
If you have a federal income tax liability, 26% of the cost of your solar system can be claimed as a deduction to your taxes. This incentive is claimed when you do your taxes. In order to receive the tax credit quicker it's best to do your taxes as soon as possible after installation.What if my tax liability is less than 26% of my systems cost
There is the option to claim this incentive over several years if your tax liability is less than 26% of the system cost.
How much will solar panels on my home save me?
The answer to this question depends on your electricity usage. Generally speaking the greater your power usage the greater the potential savings from installing solar.
The average monthly usage in New York is only 603kWh per month however, you are most likely using a lot more than this since this average includes condos and small apartments.
The Bronx solar panel savings calculator below will convert your monthly power spend into power usage (in kWh's) and then work out exactly how many solar panels you need to offset your usage, how much they will cost based on the prices of local solar companies and the amount you will save. Our New York solar savings calculator can do this because it contains a database of the electric rates charged by Consolidated Edison Co-NY Inc
How much can solar panels save you in Bronx
What does the cost of a real solar system look like?
Facts about installing a 7.45kW solar system in Bronx, NY
This system would offset 100% of your energy usage if your typical monthly bill is $309, however your situation may vary so try our Bronx solar calculator to get a result tailored to you.
Net cost of system
2 Years 1 Month
Average payback time
Annual power production
Levelized cost of solar energy
If you don't get solar
Average total cost of solar panel installation in Bronx
After 26% solar tax credit
After 26% solar tax credit
Find out what system size you need for your home
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:
|Residential Renewable Energy Tax Credit||Federal||Personal Tax Credit|
|Residential Solar State Tax Credit||State||Personal Tax Credit|
|Property Tax Exemption||State||Property Tax Incentive|
|Solar Sales Tax Exemption||State||Sales Tax Incentive|
|Value of Distributed Energy Resources - Phase One Net Metering||State||Net Metering|
|NY-Sun Smart Energy Loan||State||Loan Program|
|NY-Sun Megawatt Block Program - Con Edison - Block 8||Utility||Rebate Program|
|NY-Sun Megawatt Block Program - Con Edison Region - Block 8||Utility||Rebate Program|
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.