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Solar Incentives and Rebates in new-york

Peak Sun Hours (PSH): 3.6 - 3.9
Cost of Grid Power: $0.19/kWh
Number Of Installations: 131,696

Data from DSIRE. For more info visit: https://www.dsireusa.org/

Name Implementing Sector Program Type Administrator DSIRE ID
Local Option - Solar, Wind & Biomass Energy Systems Exemption State Property Tax Incentive 192
Solar Easements & Local Option Solar Rights Laws State Solar/Wind Access Policy 309
NY-Sun PV Incentive Program (Residential, Low-Income, and Small Business) State Rebate Program New York State Energy Research and Development Authority 701
Appliance and Equipment Energy Efficiency Standards State Appliance/Equipment Efficiency Standards 1569
Town of Southampton - Photovoltaic (PV) Rebate Program Local Rebate Program Town of Southampton 3177
Local Option - Refuse (Including Energy Waste) and Garbage Improvement Districts State PACE Financing 3662
Local Option - Municipal Sustainable Energy Programs State PACE Financing Programs administered locally 3765
Mandatory Low Income Alternative Energy Option State Line Extension Analysis 3891
New York City - Residential Solar Sales Tax Exemption Local Sales Tax Incentive 4703
Local Option - Solar Sales Tax Exemption State Sales Tax Incentive 4857
Residential Wood Heating Fuel Exemption State Sales Tax Incentive New York State Department of Taxation and Finance 4874
Suffolk County - LEED Program for County Construction Local Energy Standards for Public Buildings 4993
NY Green Bank State Other Incentive NY Green Bank 5539
Energize NY Finance Non-Profit PACE Financing Energize New York 5546
EFS New York Loan Program State Loan Program 5574
ConEd (Electric)- Demand Management incentive Utility Rebate Program ConEdison and NYSERDA 5664
NY-Sun Commercial and Industrial Incentive Program State Grant Program New York State Energy Research and Development Authority 5755
Clean Energy Standard State Renewables Portfolio Standard New York Public Service Commission 5883
New York State Electric and Gas - Energy Profiler Utility Energy Analysis New York State Electric and Gas 14074
Rochester Gas & Electric - Energy Profiler Online Utility Energy Analysis Rochester Gas & Electric 14081
Rochester Gas & Electric - Energy Efficiency Programs Utility Energy Analysis Rochester Gas & Electric 17300
Central Hudson Gas & Electric - Commercial Energy Retrofits Utility Energy Analysis Central Hudson Gas & Electric 17439
Rochester Gas & Electric - Hourly Pricing Program Utility Energy Analysis Rochester Gas & Electric 17462
U.S. Department of Energy Industrial Assessment Center (IAC): Syracuse University Federal Energy Analysis U.S. Department of Energy 17599
Consolidated Edison Co. Of New York - Commercial and Industrial Energy Efficiency Rebates and Incentives Utility Other Consolidated Edison Co. Of New York 17638
New York Industrial Retential Network - RenewableNY Program Local Energy Analysis New York Industrial Retential Network 18549
National Fuel (Gas) - Rebates Other Energy Analysis National Fuel (Gas) 18820
Rochester Gas & Electric - Wind Energy Utility Other Rochester Gas & Electric 20322
The BOC - Building Operator Certification Program Utility Training and Information The BOC 21650
National Grid - Existing Facility Incentives Utility Energy Analysis National Grid 21651
National Grid - Energy Profiler Online Utility Energy Analysis National Grid 21653
National Grid - Power Quality Enhancements Program Utility Other National Grid 21685
National Grid - Enhanced Metering Utility Energy Analysis National Grid 21687
National Grid - Energy Saving Programs Utility Energy Analysis National Grid 21715
National Grid - Rhode Island Energy Efficiency Services Utility Energy Analysis 21716
National Grid - New Construction Program Utility Energy Analysis 21717
Northeast Energy Efficiency Council - Building Operator Certification (BOC) Other Training and Information Northeast Energy Efficiency Council 21737
Energy Efficiency Resource Standard State Energy Efficiency Resource Standard New York Public Service Commission 21863
PSEG Long Island- Commercial Solar PV Feed-in Tariff Utility Feed-in Tariff PSEG 21865
PSEG Long Island- Fuel Cell Resource Feed-in Tariff Utility Feed-in Tariff PSEG Long Island 21866
Rochester Gas & Electric - CA$H Back Utility Other Rochester Gas & Electric 21952
Northeast Energy Efficiency Partnerships - EM&V Forum Non-Profit Training and Information Northeast Energy Efficiency Partnerships 22022
Energy Conservation Improvements Property Tax Exemption State Property Tax Incentive New York State Department of Taxation and Finance 22072
NYSERDA Bulk Energy Storage Incentive Program State Rebate Program NYSERDA 22097
Con Ed Demand Management for Industrial and Commercial Customers Utility Rebate Program ConEdison 22108


What’s the Cost of Solar in New York?

Cost of Grid Power

New York's electricity prices average $0.19/kWh, well above the national average of $0.14/kWh. The state consistently ranks in the bottom five for per capita electricity consumption, and the bottom two for capita energy consumption generally. This is largely attributable to the fact that nearly 30% of the state's population relies on public transit for their work commute.

Cost of a Solar Install

Cost of a typical 6.2kW PV install in New York from 2003-2018

A graph of falling prices for a typical 6.2kW PV install in New York from 2003-2018.
Figures include design costs. Data from Berkeley Lab, courtesy of NYSERDA.

The average cost of a 6kW (equivalent to saving roughly 100 trees a year) solar power system starts around $21,000 in New York. Before any incentives, in the first year you’d save about $1,500, compared to if you had been paying the normal rates for the energy you used. With incentives you can effectively halve the initial cost while saving on the energy bill. These savings can continue for well over 25 years, improving with inflation.




Just How Much Can I Save With Solar in New York?

This depends on may factors such as your system size, power output, and financing. Here are the main ways you can finance your home solar power system, and the kinds of returns you may expect to see:

Out-of-Pocket

From our example above, the homeowner purchased a 6.2kW system to offset their energy bill. Overhead cost was $21,000, with a significant proportion returned in the first year through incentives, rebates, and savings, then paying itself in full over just six years.

Most solar power systems have a warranty lifetime of 25 years. In that time, between incentives and paying lower rates you could make a profit of around $34,000 - more than the up-front cost of the system!

Even with occasional maintenance or part replacement, that is a massive savings. Solar panel power output falls on average 0.8% per year, so with a little TLC and load management you can extend the life of your system well beyond the warranty’s expiration date, continuing to save indefinitely.

Solar Loan

Whether or not you can afford the up-front cost of the install, you may want to consider a Home Equity Line of Credit (HELOC). With equity in your home, or good credit, you may qualify for a 15-year solar HELOC with fixed rate of 4% or lower.

Starting with that same 6.2kW system costing $21,000 but with zero up-front cost, accounting for incentives, credits, rebates, and annual energy savings starting around $1,500, you could see a revenue surplus of about $9,500 at the end of the first year.

Save some of that money though. Your loan payments will likely exceed your power savings by about $30/month for the 15-year term. Once the loan is paid off, you can expect to save about $1,500 a year. Over 25 years you could expect to make about $27,000.

Power Purchase Agreement

With a Power-Purchase Agreement (PPA) the homeowner leases their roof to an outside party, usually a power company. Generally PPAs feature a fixed price per kWh, with either a fixed term or an annual escalator.

With a PPA, the cost of installation, repair, and maintenance to the homeowner is usually $0.00. For that 6.2kW system, with a PPA you could expect to save about $1,500/month on energy. Over 25 years, you could see about $15,000 in revenue - without accounting for inflation. That’s technically an infinite return!

PPA’s can be complicated, as you are effectively ceding at least some control of your home to the third party, but they are an excellent way to get into solar because they have no overhead.




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