Solar power in Brooklyn, New York
Many Brooklyn residents paying upwards of $250 per month for power, and are looking towards solar as a solution to expensive energy bills. Luckily federal, state and utility incentives has made solar more affordable than ever for New Yorkers.
What solar incentives do ConEd offer in Brooklyn?
Con Edison is currently in the second to last tier of their residential solar rebate program. The current incentive is $300/kW of installed solar. A typical 6kW system under this incentive would be eligible for a $1,800 rebate. If you also qualify for the NY-Affordable solar program your Coned rebate doubles, this means you’d be eligible for a rebate of $3,600!
This incentive is likely to reach full capacity and expire within the next few months, the expression “time is money” has never been more accurate.
Alongside their generous rebate program, Coned also offer another incentive called net metering.
Am I eligible for the New York state tax credit?
If you pay income taxes to the state you may claim 25% of the cost of your solar system as a deduction to your state taxes. This incentive is capped at $5,000 and only available for systems under 25kW in size.
Can I receive the federal solar tax credit?
If you pay federal taxes you may elect to claim a big part of your system cost as a deduction to your federal income tax liability under the federal ITC.
Net Metering Broken Down
It is likely that at times your solar system will produce more energy than your home needs, this excess is sent to the grid and net metering requires Coned to compensate you at the retail power rate for each kWh you send them.
When your solar system isn’t producing enough energy for your home such as at night, your home will still draw energy from the grid as normal. The excess solar generation from the day is netted against your usage on a 1 to 1 ratio, this is how a solar system wipes out or significantly reduces your power bill.
Net metering is the core reason solar power is economic.
What if my solar system sends more energy to the grid than I consume in a month?
If your solar system exports more energy to the grid than you consumed within a month the excess credit will be carried over to the next months bill still at full retail value. At the end of the yearly billing cycle any unused credits 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 Brooklyn,
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 Brooklyn, 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 Brooklyn 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 Brooklyn
What does the cost of a real solar system look like?
Facts about installing a 6kW solar system in Brooklyn, NY
This system would offset 100% of your energy usage if your typical monthly bill is $233, however your situation may vary so try our Brooklyn solar calculator to get a result tailored to you.
Net cost of system
2 Years 3 Months
Average payback time
Annual power production
Levelized cost of solar energy
If you don't get solar
Cash flow graph based on cash purchase of this 6kW system
Life-time savings on this system over the next 25 years
(Prices shown after repayments of capital)
Solar companies in Brooklyn, NY that provide pricing through the Solar-Estimate marketplace.
Average total cost of solar panel installation in Brooklyn
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.