What Should You Pay For Solar In New York?

Find Out For Your Home Based On Recent Installations In Your ZIP

Solar power in New York

New York has an array of solar incentives available to home and business owners looking to go solar.

In 2014, New York announced a new strategy, Reforming the Energy Vision (REV), to strengthen and modernize the Empire State’s energy system. Through REV, the Clean Energy Fund (CEF) was developed to provide funding for programs such as NY-Sun, a leader in solar funding and financing options for the state.

New York is striving to reach aggressive renewable energy goals through their Clean Energy Standard. The goal is to derive 50% of the energy consumed by the state from renewable resources and to reduce greenhouse gas emissions by 40% by 2030. It is likely that the state will continue to fund solar incentives and financing programs in order to meet these objectives.

The objectives of REV combined with an ambitious Clean Energy Standard and high utility power costs makes New York one of the best states to go solar.

 

Estimate your solar savings

 

Solar power in New York

New York solar power facts

$3.84
/watt

Average cost of a 5kw solar power system in 2019
Price shown before incentives

3 Years 5 Months

Average payback time

$149,870

Average lifetime savings
Price shown after repayments of capital


/kWh

levelized cost of solar energy

72¢
/kWh

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

9,399
kWh

Annual power production

Cash flow graph based on cash purchase of a 7.67kW system

This 7.67kW system would offset 100% of your energy usage if your typical monthly bill in New York is $318, however your situation may vary so try our solar calculator to get a result tailored to you.


Solar companies in New York that provide pricing through the Solar-Estimate marketplace

17


Best solar offers currently available in your city


Solar calculator and quote comparison tool

Compare solar quotes from the top solar companies in New York

How much do solar panels cost in New York

$3.84 per watt

Cash purchased solar system
Before 30% solar tax credit

$4.29 per watt

Financed solar system
Before 30% solar tax credit

18.7¢ cents/kWh

Lease/PPA
Av. 15 year term, 2.5% price escalator

What are the pros and cons of buying solar panels for your home in New York

The advantage of installing solar panels is that both state-based incentives and the federal tax credit are available. New York also has one of the best overall returns on investment for residential solar panels in the nation because of expensive utility rates. With REV and the Clean Energy Standard, it seems that the transition to solar will be supported well into the future in the Empire State.

The disadvantage of installing solar panels is that there is less overall solar irradiation per year, so a solar system in New York produces less than a system could in other states. However, local incentives more than make up for this. New York homeowners will be kicking themselves if they don’t install solar panels while the state’s generous incentives are still around.

Enter your details to calculate the cost and savings you are likely to get from installing solar panels for your home.

Find local city information


Best brands of solar panels

To find the best brands of solar panels you can use America's most trusted solar panel comparison and reviews website, SolarReviews.

However, reviews of solar panels can be a bit meaningless because most consumer owners have not had any issues and so whilst solar company reviews are very important when choosing solar installers they are of less use when choosing solar panels.

For more information to help you make an informed decision about this topic, I would recommend this article about buying solar panels.

 

Unlock live pricing on the best solar panel brands!

 

How much electricity will solar panels produce in New York

Solar panels produce different amounts of energy in different locations.

Around the New York area solar panels installed on a south facing 27 degree pitch roof will typically produce:

1,230kWh per year per 1kw of peak DC (direct current) capacity

For more information about how your location, roof direction and roof tilt affects solar power production use the solar panels calculator and enter your zipcode below.

 

See how much electricty your solar panels could produce

I want to buy a solar panel kit and install it myself

What rebates, solar tax credits and other solar incentives are available in New York?

New York Residential Solar Tax Credit

New York offers a state-based tax credit for new solar generation systems equal to 25% of the costs of a qualified solar system, up to $5,000.

If the amount you receive as a credit exceeds your taxes for the year, the unused portion of your credit can be carried forward for up to 5 years.

For example, if your state income tax is $3,000 and your tax credit is equal to $4,000, you will have $1,000 in credit that will be applied to the next year’s income tax.

 


 

NY-Sun MW block incentive

NY-Sun created the MW block incentive system to help reduce the cost of solar installations. Through this program, the state is broken into three regions:

  • The Con Edison Region (NYC and Westchester County)
  • Long Island Region, and
  • Upstate Region (remainder of the state)

Each region was given a capacity allocation that was broken up into “blocks”, with each block having a different cap for the amount of watts that can be installed. The incentive amount decreases as you move from block to block.

For example, the Con Edison region is currently in Block 8 which has a capacity of 70,000 kW with an incentive of $0.30 per watt installed. This means 70,000 kW of solar can be installed before moving to Block 9. Everyone who goes solar within Block 8 will receive $0.30 per watt they install on their home. When Block 8 has reached its capacity, it will move to Block 9, where you only receive $0.20 per watt installed. So the sooner you install, the better.

In fact, if you install a 5 kW system in the Con Edison region now, you are entitled to a $1,500 rebate. If you wait until the end of the program, you will only receive $1,000.

NY-Sun also runs the Affordable Solar program where they double the size of your rebate depending on your income level.

The MW block program has already closed in the Long Island Region, and the ConEdison and the Upstate Region blocks are filling up fast. The time to switch to solar is now!

 


 

NY-Sun financing options

NY-Sun offers two loan options for homeowners: On-Bill Recovery and Smart Energy Loans. Loans are available for amounts ranging from $1,500 to $25,000, depending on your qualifications. Loan terms can be over the course of 5, 10, or 15 years.

On-Bill Recovery loans add installation costs as a new line item on your monthly utility bill, ensuring that the energy savings you get from solar cover the loan payment. What’s nice about this option is that if you move, the unpaid balance of the loan can be transferred to the new homeowner.

Smart Energy Loans are repaid through installments that go directly to the New York State Energy Research and Development Authority’s loan servicer.

New York Solar Calculator

Regardless of what you want to know about the economics of installing solar panels for your home or business in New York we have a solar calculator that can show you exactly the information your require.

 

You can either use our full monty solar calculator that shows you everything you could possibly want to know or you can use one of our range of smaller calculators for specific solar calculations that focus on providing you only with the specific information you require.

 


 

What you can find out about installing solar panels in New York using our full monty solar calculator

This solar calculator requires you to input your address, utility company, your average monthly power spend - It tells you:

If you want to see all of the above but also see live pricing, the three best solar deals available in your city and get binding quotes from each of these solar companies then use this solar panels calculator. This calculator requires you to also input your name and contact details because most of our 200+ installer partners will only authorize the sharing of their live solar pricing where we have validated that you are a real homeowner with a home in their service area. We respect the privacy of your data and only share your contact details with the solar companies you ask us to get binding quotes from.

 

Unlock live pricing in your state!

 

Solar calculator

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

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

Useful links

Solar panel installation guidelines in New York

https://training.ny-sun.ny.gov/solar-permitting-and-inspection