If you happen to dwell on Lengthy Island, New York, now could also be a very good time to go photo voltaic.
Photo voltaic vitality utilization has soared all through the entire state of New York, with Gov. Kathy Hochul just lately saying that greater than 2 gigawatts of photo voltaic vitality have been added to the neighborhood grid, sufficient to energy nearly 400,000 houses. That is one part in a wider Empire State purpose of having carbon-free vitality by 2040.
General, New York state ranks eighth nationwide when it comes to photo voltaic vitality utilization, with simply over 870,000 houses powered by photo voltaic vitality and practically 5% of the state’s electrical energy powered by photo voltaic vitality, in accordance with the Photo voltaic Power Industries Affiliation. The Empire State affords a state tax credit score, internet metering coverage and gross sales tax exemption on photo voltaic panels.
Particularly on Lengthy Island, prospects are making the most of round 200 sunny days a 12 months and trying to get away from excessive electrical energy payments — for those who’re one of many Lengthy Island residents attempting to make the photo voltaic change, listed here are the very best photo voltaic set up firms working within the space.
Greatest nationwide photo voltaic panel firms on Lengthy IslandÂ
Palmetto Photo voltaic
Greatest customer support
Photo voltaic panels are sometimes low upkeep tools, however they’re additionally unfamiliar. If you wish to reap the advantages of photo voltaic however can have a bit extra peace of thoughts if another person is ensuring it is working, Palmetto is perhaps a very good match for you. Simply keep in mind so as to add the price of Palmetto’s monitoring service in to your payback interval calculations.
Freedom Perpetually
Greatest for money prospects
Embody Freedom Perpetually in your search if you need the backing of a nationwide firm that installs all kinds of the most well-liked photo voltaic tools obtainable. Freedom Perpetually additionally extends a few merchandise that take among the ache and threat out of going photo voltaic, like a manufacturing assure and an escrow choice with money purchases. On-line opinions say buyer satisfaction has been low of late, although the corporate says that is altering.
Tesla Photo voltaic
Most reasonably priced
Tesla’s photo voltaic department appears to be the least cherished of Elon Musk’s ventures. Even Tesla’s Photo voltaic Roof appears to get extra love.
If value is the factor you will not budge on, think about Tesla. By all accounts, Tesla installs high quality panels and makes the closest factor there may be to a family title in photo voltaic storage: the Powerwall.
The place you may miss out is customer support. Dialogue on-line appears to recommend Tesla’s service is a little bit of a big gamble.
Momentum Photo voltaic
All in-house installers
Momentum installs in 11 states with out utilizing subcontractors. Whereas utilizing in-house installers would not assure a greater expertise, it does recommend you are more likely to get a extra uniform expertise from Momentum. The truth that Momentum backs its installations with a 25-year workmanship guarantee hints at a powerful perception in its crews’ means. If Momentum is a part of your search, think about the warranties in opposition to leaks that different firms provide. Momentum’s is 5 years, which is not the finest.
Native photo voltaic panel firms on Lengthy IslandÂ
Lengthy Island Energy Options says it affords potential prospects a free photo voltaic panel session to find out if photo voltaic vitality is suitable for a house. The corporate says for those who select to go ahead with set up, its representatives will do a survey of the house and decide the very best financing choices obtainable.
The corporate web site says it affords 24-hour buyer help and a 25-year guarantee with each photo voltaic panel set up.
Enterprise Photo voltaic guarantees personalized service resulting in a potential conversion to photo voltaic in lower than two months, a overview of monetary photo voltaic incentives, vitality monitoring and a 25-year guarantee.
Value of photo voltaic panels in Lengthy Island
“The primary benefit and good thing about going photo voltaic is that most often you lower your expenses,” mentioned Shyam Mehta, the assistant director of distributed vitality assets on the New York State Power Analysis and Improvement Authority. “That’s in all probability extra true on Lengthy Island than another portion of the state given how sunny it’s, and given how excessive the worth of electrical energy is, in all probability solely second to the New York Metropolis area.”
The first good thing about “going photo voltaic” for a house owner is financial, i.e. decreasing their electrical invoice, Mehta defined. He mentioned that is achieved by two means: one, any photo voltaic vitality that’s generated by the system and consumed by the house owner goes towards decreasing the electrical energy demand. As well as, any extra electrical energy generated by the system that is not consumed by the house owner goes to the grid and credited to the house owner on their invoice, by way of internet metering, and thus additional offsetting their invoice to the purpose of doubtless zeroing the invoice out.
New York ranks within the high 10 states with the highest electrical energy charges. The typical electrical energy charge in New York state was 23 cents per kWh in September 2023, resulting in a median month-to-month invoice of $145.40. With electrical energy payments being what they’re, Mehta mentioned there are rising quantities of photo voltaic panels being put in yearly.
“The know-how is getting cheaper and getting confirmed out,” he mentioned. “Individuals are getting extra comfy with it and so they see their neighbors have photo voltaic and that provides them consolation to go photo voltaic.”
Mehta famous it takes about seven to 10 years to repay the set up prices, relying on what a part of the state you reside, the extent of your particular person photo voltaic system and general vitality consumption. Â
Here is a snapshot of the common prices of a photo voltaic panel buy in New York in comparison with the remainder of the nation. The desk additionally reveals you the way a lot you may be capable to save with the 30% federal tax credit score. Take into account that your whole value could possibly be larger for those who add extra tools, reminiscent of a photo voltaic battery.
Common value of photo voltaic panels in New York
| Typical system measurement (kW) | Value per watt | Whole put in value | Value after 30% federal tax credit score | |
| New York | 5 | $3.65 | $18,250 | $12,775 |
| Nationwide common | 8.6 | $3.67 | $31,558 | $22,091 |
This infographic shows the typical whole money value, value per watt and typical system measurement for a photo voltaic panel system in your state, in accordance with knowledge from FindEnergy.com. These costs do not account for rebates or potential earnings from tax credit and state incentives. Sure states haven’t any FindEnergy photo voltaic knowledge and are grayed out on the map.
Lengthy Island photo voltaic panel incentives and rebates
Between Lengthy Island’s comparatively giant variety of sunny days and New York state’s solar-friendly insurance policies, shifting to photo voltaic vitality is definitely value contemplating. The truth is, CNET named New York state one of many finest US states for photo voltaic incentives. Â
Listed below are the native incentives supplied to Lengthy Island residents:
|
Program |
Description |
|
Federal tax credit score |
As much as a 30% tax credit score that may be utilized to federal taxes. The Inflation Discount Act prolonged the 30% tax credit score for residential programs put in between Dec. 31, 2021 and Jan. 1, 2033. |
|
State tax credit score |
New York residents who set up a photo voltaic system could also be eligible for a state tax credit score of 25% for some programs of as much as $5,000. |
|
State gross sales tax exemptions |
New York state exempts gross sales taxes for the sale and set up of many solar-related providers. Nonetheless, the exemption doesn’t embrace pool heating or different leisure makes use of. |
|
Storage incentives |
The Lengthy Island Energy Authority affords battery storage incentives for each new and current householders. The inducement is on the market for the vitality storage part of a system. |
|
Internet metering program |
With internet metering in Lengthy Island, you’ll be able to ship your further photo voltaic technology again to the grid in alternate for credit in your electrical invoice. In accordance with DSIRE, as of February 2023, PSEG/LIPA, the primary utility on Lengthy Island, offers the retail charge for every kilowatt-hour of electrical energy you ship to the grid. |
|
Neighborhood photo voltaic program |
Nice for Lengthy Island renters who cannot decide to a photo voltaic panel buy, neighborhood photo voltaic applications enable you entry clear vitality by subscribing to a photo voltaic undertaking. You then save on vitality prices with electrical invoice reductions. You may be taught extra about how one can subscribe to PSEG Lengthy Island neighborhood photo voltaic choices right here. |
How solar-friendly is your state?
CNET just lately ranked states based mostly on their residential photo voltaic insurance policies: the legal guidelines and laws affecting consumer-level photo voltaic panel set up and adoption. These insurance policies play a serious function in figuring out how accessible and reasonably priced a photo voltaic panel system is to the typical resident.Â
Every state was evaluated by way of a methodology and scored based mostly on eight classes. The ultimate rating was transformed to a letter grade.Â
Here is how your state scored on CNET’s photo voltaic coverage take a look at.
New York
Grade: C
Incentives obtainable:
- Tax credit score of as much as 25% of the photo voltaic panel system value, capped at $5,000
- State-governed internet metering at fraction of retail charge
- Native exemptions on property taxes for photo voltaic panel programs
- Photo voltaic panel programs totally exempt from gross sales tax
- Statewide low-income rooftop photo voltaic and neighborhood photo voltaic applications
Strongest scoring classes:
New York has a stable tax credit score that might prevent 1000’s of {dollars} on a purchase order that sometimes prices tens of 1000’s of {dollars}.
Classes to enhance:
Photo voltaic payback intervals are barely longer in New York due to the present fractional retail charge internet metering coverage. Legislators might additionally craft a regulation to make photo voltaic panels exempt from property taxes statewide.
The right way to decide which Lengthy Island photo voltaic firm is finest for me
Mehta mentioned residents who select to go photo voltaic have to test references of set up firms. He added it is advisable speak with individuals who beforehand labored with that installer, do some web analysis, learn opinions and get a request for proposals from at the least three separate installers.
“It’s good to take time and punctiliously overview the proposal together with the financing choices as a result of the proposal you get might embrace a mortgage part or a lease part,” Mehta famous.
Set up elements to remember
Nonetheless, Mehta emphasizes you should do in depth analysis on whether or not photo voltaic panel set up is suitable for his or her house.
“It is utterly potential in your explicit occasion going photo voltaic might not make sense,” he mentioned. He cites homes which have giant quantities of shade or the roof faces south, thus it could not generate photo voltaic vitality. “You undoubtedly wish to take your time earlier than you make that call.”
Another points to think about for potential prospects might embrace:
- Roof situation and pitch: The angle and pitch of the home’s roof will generate sufficient photo voltaic vitality for the panel set up to be a worthwhile funding. “Usually, photo voltaic panels carry out finest on south-facing roofs with a slope between 15 and 40 levels, although different roofs could also be appropriate too,” in accordance with the US Division of Power. Householders ought to seek the advice of with a respected photo voltaic panel installer to find out the feasibility of set up, main with conversations concerning measurement, situation and age of the prevailing roof.
- Renting vs. proudly owning your private home: If you happen to’re renting a home and foresee buying a house within the not-too-distant future, the prices of putting in photo voltaic panels is probably not well worth the funding. A viable various could also be a neighborhood photo voltaic program.
- Insurance coverage protection: Photo voltaic panels are inclined to the climate and different exterior forces. It is best to test your house owner’s insurance coverage coverage if there can be protection for the panels upon completion of set up.
- Householders affiliation laws: New York is considered one of 21 states that doesn’t have legal guidelines prohibiting HOAs from forbidding photo voltaic panel set up. It is best to test your HOA’s laws to see if photo voltaic panels are allowed.
The right way to pay for photo voltaic panels in Lengthy Island
Money:Â Putting in photo voltaic panels might be very costly and many individuals might not have that a lot money obtainable. Nonetheless, for those who can afford one giant fee, that eliminates extra curiosity or charges.
Photo voltaic mortgage: NYSERDA extends three sorts of mortgage choices together with an on-bill restoration mortgage, a wise vitality mortgage and a renewable vitality tax credit score bridge mortgage. “It actually is determined by your private scenario,” Mehta mentioned. “You need to concentrate on all of the choices.”
HELOC or house fairness mortgage:Â One other kind of mortgage chance is a house fairness mortgage, or HELOC, that means that you can use the fairness in your house as collateral. HELOCs can be utilized for upgrading a home, however your threat shedding your private home for those who can’t repay the mortgage.
Lease or energy buy settlement: That is an association between the photo voltaic panel set up firm and the house owner the place the photo voltaic firm maintains possession of the system. With a photo voltaic lease you hire the panels from a photo voltaic firm and obtain a reduced invoice in return. With energy buy agreements, you’ll be able to earn a reduced charge per kilowatt hour. In each situations, since you don’t personal panels, you can’t entry any tax incentives.Â
Private mortgage: A private mortgage by way of a good monetary establishment could also be a stable choice by getting the cash up entrance to finance the photo voltaic panel set up after which paying again over time alongside comparable strains to a automobile mortgage. Most private loans are unsecured — that means it doesn’t require collateral, reminiscent of your private home. This may get rid of the chance of shedding your own home if there are unexpected monetary issues. Nonetheless, private loans with out collateral usually have larger rates of interest.
How we discovered the very best photo voltaic firms
The businesses we listed above as “the very best” are curated from CNET’s finest photo voltaic firms listing. Corporations making the very best listing are scored on the tools, warranties and customer support they provide. Then, we be sure that these suggestions can be found in your state. You may learn a full breakdown of how we overview photo voltaic firms right here.
Corporations listed underneath the native installers have been chosen in a much less rigorous approach. We selected them as a result of they supplied one thing distinctive or notable to prospects within the state, they appeared well-regarded by web reviewers or as a result of they have been one of many few installers we might discover data on within the state.
Whether or not we have accomplished a full overview on an organization or not, it is all the time a good suggestion to get a number of quotes from completely different installers earlier than selecting an organization.
Solar energy FAQs
What are the benefits of photo voltaic panels?
Lengthy Island residents face among the highest electrical energy charges all through the state. Photo voltaic panels can result in some value financial savings over time.
How lengthy does it take to repay photo voltaic panels?
Seven to 10 years on Lengthy Island, relying on any variety of elements, together with the extent of the put in system, the precise space on Lengthy Island the place you reside and the general vitality consumption.
Are photo voltaic panels value it in Lengthy Island?
If you happen to dwell in an space the place there’s sufficient photo voltaic vitality obtainable for a home, it may be a worthwhile funding.
Does Lengthy Island provide a photo voltaic tax credit score?
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