New York goes solar with SunPower®
Clean New York energy is in the spotlight
The state of solar in New York
At 165 days of sunshine per year,*BestPlaces. Climate in New York (accessed August 6, 2021). https://www.bestplaces.net/climate/state/new%20york New York spends less than half its year under sunny skies. Compared to other states, New York receives a below-average amount of sunshine. Solar panels in New York must withstand 62 inches of snow and 44 inches of rain annually, as well as extreme cold in the winter that gets down into the teens.
Regardless, the American Council for an Energy-Efficient Economy (ACEEE) ranks the state an outstanding fifth in the nation*ACEEE. State Scorecard Rank | ACEEE (accessed August 6, 2021). https://database.aceee.org/state-scorecard-rank for its renewable energy programs and policies. Given that 80% of New York's buildings are solar viable,*Google Project Sunroof. Data Explorer | New York (accessed August 6, 2021). https://sunroof.withgoogle.com/data-explorer/place/ChIJqaUj8fBLzEwRZ5UY3sHGz90/ the state is ready to reach its full solar-energy potential.
How much solar energy does New York produce?
According to the Solar Energy Industries Association (SEIA), New York ranks 10th*SEIA. New York Solar | SEIA (accessed August 6, 2021). https://www.seia.org/state-solar-policy/new-york-solar in the U.S. in terms of solar megawatt production, which provides nearly 3% of the state's electricity and power 474,848 homes. New York also has over 145,000 solar installations, the most prominent being Long Island Solar Farm in Upton and Argos Solar LLC in Seneca. Information about other noteworthy solar installations is on SEIA's website.*SEIA. Major Solar Projects List | SEIA (accessed August 6, 2021). https://www.seia.org/research-resources/major-solar-projects-list
What are the advantages of going solar in New York?
U.S. Energy Information Administration (EIA) statistics show that as of April 2021, New York ranked 9th in the nation in terms of the average retail price of residential electricity.*USEIA. New York (Accessed Aug. 12, 2021) https://www.eia.gov/state/rankings/?sid=NY#series/31 In addition to all the other factors that drive the cost of living sky-high in the most populated areas of the state, the utility bills rank up there with the exorbitant costs of housing and transportation, at least in New York City.
Investing in solar panels can have a dramatic impact on your power bills. Solar equipment can last 25 years or more, saving system owners over $20K in energy costs over time. Using solar for electricity reduces CO2, improves air quality, and creates good jobs in a sustainable industry.
How much does solar cost in New York?
The cost of a home solar system varies due to several factors, even within the same state, including:
A household's energy needs
The angle of the roof
Quality of the solar system's panels and parts
To help you understand the price of going solar in your area, we've analyzed SunPower price quotes as well as quotes gathered by third-party sources for thousands of homeowners across the country.
In New York, we found that the cost of owning a 5 kW solar system ranges from $13,850 to $39,050, or in other words, from $2.77 to $7.81 per watt, and that's before considering the benefits of any available tax credits or incentives.
What to consider when going solar in New York
New York is one of the top 10 solar markets in the U.S. Following a national trend of falling prices for solar panels, prices dropped 43%*SEIA. New York Solar | SEIA (accessed August 6, 2021). https://www.seia.org/state-solar-policy/new-york-solar over the last five years. New York's solar infrastructure ranges from residential systems to large solar farms.
Residential property owners in New York may benefit from a number of incentives and tax breaks when installing a new solar power system.
Homeowners who purchase their system as opposed to leasing it, can get a federal tax credit of up to 30% of the total cost of the solar installation.*Tax credits and incentives are subject to change. Visit dsireusa.org for detailed solar policy information.
The Long Island Power Authority's (LIPA's) Feed-in-Tariff (FIT) solar program incentivizes businesses to interconnect up to 20 MW of solar photovoltaic equipment to their rooftops.
The New York State Solar Program (NY-Sun) offers incentives to homeowners, such as Affordable Solar for households earning less than 80% of the median income in an area.
Also on offer are several financing options, including loans for On-Bill Recovery and Smart Energy. In addition, a companion loan is available to finance projects exceeding the $25K cap on On-Bill Recovery and Smart Energy loans.
The Renewable Energy Tax Credit Bridge Loan is a short-term loan option that you can pair with the other loans.
What's the best way to go solar in New York?
It's exciting that solar energy finally has its place in the spotlight as a clean energy resource. Just remember that quality, appearance, and durability vary among vendors and brands—be sure to research your options to make an intelligent choice about where you buy home solar panels.
Start with a reputable solar consultation who can recommend a system that meets your budget, property, and energy needs. A premium-quality system will provide a return on investment for many years to come.
A qualified solar energy professional will also guide you through available rebate and incentive programs while making sure your solar system enhances your property value.
If you’re ready to get started, we’re happy to help. Simply request a free consultation with SunPower below and we'll follow up with a quick call to schedule a time. You can also call us directly at (800) 786-7693.
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