Home > Blog

The Solar Energy Market In NYC Takes Off in 2017

New York City is one of the best cities in America for solar power installations- if you can shell out $34,000 in cash to pay for it. But now, the solar landscape is changing for the masses. New solar programs geared to help the middle and lower class go solar are set to go into effect. Various government programs, in conjunction with reduced equipment prices are setting the stage for the solar energy market in the Big Apple to take off in 2017. Solar should be affordable for everyone who has escalating electricity bills. Middle and Lower classes will now have financial access to various solar incentives and rebate structures to help all New Yorker's cultivate the sun. Now we can all create positive energy...Solar Power!

NY-Sun – The Solar Program For Everyone

NY-Sun is a collaborative goal under the leadership of the New York State Energy and Research Association (NYSERDA) to shatter the barriers of going solar to the masses in the fight against global warming. Through a collaborative of various government agencies (New York State Public Service Commission, the Renewable Portfolio Standard, the Clean Energy Fund, and the Regional Greenhouse Gas Initiative, Reforming Energy Vison REV), more homes and businesses can go solar for 0 up front cost. The improvements made on the consumer profile for who is accepted to go solar is causing a dramatic wide scale adoption of solar in New York City. The message from the NYSERDA is quite clear, "get solar, get green and save money".

Under the NY-Sun program, the upfront cost of going solar is $0. Customers have the power to choose solar power, a much less expensive alternative to ConEd utility power. Solar Power will save customers up to 2400 under the rate reduction program, and much higher on the ownership programs. The options are all laid out on the table for many to simply accept a rate reduction or take ownership of the system through NY-Sun’s On-Bill Recovery Program. The On-Bill recovery program allows customers to finance their solar system through their utility bill. Since the utility is guaranteeing the solar payment, the credit requirements for this solar program are excitingly low. Either way, the opportunity to reduce or eliminate an electric bill is now an option for everyone regardless of income or credit.

Requirements to go solar in the greater Five Boroughs area are first to confirm eligibility. If you are a homeowner or business owner (who owns the building), public school, coop, condo, government agency, or community, you are in great shape to get solar incentives. NYSERDA does require that you work with a NYSERDA certified installer for rebate purposes. Once you schedule a site visit and the installer submits your application, you let the solar panels usher in the savings for 25 years.

The icing on the cake is that the Federal government pays for 30% of the system cost in the form of tax credits. Once this critical amount is peeled away from the solar cost, NYC solar customers will save substantially. There is then a combined multiplier effect on consumer savings since the solar panels have also come down in cost in since 2011. The last key factor that makes New York City poised for exponential growth for solar in 2017 is the property tax abatement. All New York City property owners who go solar are eligible for a steep reduction in property tax costs within the 4-year period after solar installation is formally connected to the grid. When combining all of the various government incentives and initiatives, going solar becomes well within reach and affordable to all.

As of today, homeowners who are expedient in contacting an installer will receive the highest rebates. Since rebates expire and reduce over time, its better to submit an application as soon as possible. Call Your Installer Today. NYSERDA Certification is a requirement for all rebate applications. 

We would like to thank Grid City Energy 375 Pearsall Ave, Cedarhurst, NY 11516 516-308-7878 for all their help in making this insightful publication possible. They worked with us closely in an effort to help the public understand the benefits and costs of green energy.

More to Read: