Benefits of Solar Energy
Solar energy provides numerous advantages that will enhance your home for years to come.
- Better energy independence: Solar energy can keep your home functioning through emergencies and blackouts. You can use your solar energy anytime with optional battery backup.
- Reduced carbon footprint: The sun is a highly abundant clean energy source, meaning you can reduce or eliminate your home's dependence on non-renewable sources.
- Lowered energy bills: You can dodge the premium cost of grid-tied power by generating some electricity at home.
What Solar Incentives Are Available to Amherst Homeowners?
New York homeowners who decide on solar could qualify for tax credits, reimbursements, rebates and special financing. Here are just a few of the region's incentive offerings.
Incentive Type: PACE Financing
Website: nyserda.ny.govIncentive Amount:
Locally determined
Incentive Type: Personal Tax Credit
Website: tax.ny.govIncentive Amount:
25% for solar-electric (PV) and solar-thermal systems; for third-party owned systems this is in reference to the aggregate amount owed under the contract rather than the amount owed in any single year
Incentive Type: Corporate Tax Credit
Incentive Amount:
$0.01/gallon for each percent of biodiesel
Incentive Type: Loan Program
Website: ny-sun.ny.govIncentive Amount:
Residential Customers: $1,500 - $25,000
Small Business and Not-for-Profit Organizations:
Participation Loans: up to $100,000 (at low interest rate)
On-Bill Recovery loans: $50,000 at 2%
Incentive Type: Sales Tax Incentive
Incentive Amount:
100% exemption
Incentive Type: Sales Tax Incentive
Incentive Amount:
Upon local authorization, 100% exemption from local sales tax
Incentive Type: Sales Tax Incentive
Website: tax.ny.govIncentive Amount:
100% exemption from state sales tax
Incentive Type: Property Tax Incentive
Website: tax.ny.govIncentive Amount:
Upon local adoption, 20% - 100% of real property taxes owed; varies by year and certification level
Incentive Type: Property Tax Incentive
Website: tax.ny.govIncentive Amount:
100% of the value added to the residence by the improvements
Incentive Type: Property Tax Incentive
Website: tax.ny.govIncentive Amount:
100% exemption for 15 years (unless local jurisdiction has opted out)
Incentive Type: Rebate Program
Website: ny-sun.ny.govIncentive Amount:
Incentive rates step down over time as MW goals are met. Incentive rates as of 11/27/2019 are:
Residential:
Long Island Region: $0.00/W (MW blocks have been fully subscribed)
Con Edison Region: $0.30/W
Upstate Region: $0.35/W
Low-to-Moderate income customers: $0.80/W (up to 10 kW)
Small Commercial (Non-Residential): Long Island Region: $0.00/W (MW blocks have been fully subscribed)
Con Edison Region: $0.60/W
Up State Region: $0.45/W
Multifamily Affordable Housing Adder: additional $0.40/W (up to 50 kW)
Incentive Type: Rebate Program
Website: nyserda.ny.govIncentive Amount:
Small Systems (≤ 10 cooling tons): $1,500/cooling ton
Large Systems (> 10 cooling tons): $1,200/cooling ton
Incentive Type: Loan Program
Website: nyserda.ny.govIncentive Type: Other Incentive
Website: greenbank.ny.govIncentive Type: Personal Tax Credit
Website: tax.ny.govIncentive Amount:
$0.01/gallon for each percent of biodiesel
Incentive Type: Rebate Program
Website: nyserda.ny.govIncentive Amount:
Tier I: 10,000 kWh of expected annual energy production: $3.50/annual kWh
Tier II: 10,000 kWh - 125,000 kWh of expected annual energy production: $1.00/annual kWh
Tier III: 125,000 kWh - 1,000,000 kWh of expected annual energy production: $0.30/ annual kWh
Tier IV: Greater than 1,000,000 kWh of expected annual energy production: $0.15/ annual kWh
These incentives are additive.
Incentive Type: Performance-Based Incentive
Website: nyserda.ny.govIncentive Amount:
- Capacity Incentive: Varies on the construction and design of the system
- Performance Incentive: $0.025/kWh production payment for new systems for up to 10 years (estimated using a capacity factor of 75%)
- Interconnection Incentive: up to 75% of the costs exceeding $5,000
- Project Enhancement Incentives: Available for Black Start Capability, Hydrogen Sulfide reduction, design for accepting food waste and others
Incentive Type: Personal Tax Credit
Website: ecowatch.comIncentive Amount:
30% federal tax credit for systems placed in service after 12/31/2021 and before 01/01/2033. Good for: solar water heat, solar photovoltaics, biomass, geothermal heat pumps, wind (small), fuel cells using renewable fuels.
How To Choose the Best Solar Company in Amherst
The more comprehensive your company research is, the better your solar installation will ultimately work. Make your choice based on the following crucial aspects.
The type of solar panels you choose dictates how much energy you can produce. Monocrystalline panels cost the most but perform the best. Polycrystalline panels produce less power, but they're worth it if you want a traditional panel style without the high cost. Thin-film panels aren't recommended for large residential installations, but they are ideal for small projects like converting RVs and sheds.
If you want to charge an electric car or use your solar power in cloudy weather, you'll usually pay extra for add-ons. By selecting the right ones, you can make your system more effective and convenient to use. Not every solar company includes these add-ons, so look for a contractor that has them if it's crucial for you.
Licensing and Training
New York state does not issue licenses to contractors, so you should check with your county or city government for its specific regulations and requirements. Further check a company's website for private accreditations from the North American Board of Certified Energy Practitioners (NABCEP), one of the solar sector's most reputed trade groups. Its program includes certifications for both solar photovoltaic and water heating installers.
Financing Options
Solar installers offer multiple different financing options to increase your savings and lower your costs. Common payment options include power purchase agreements, loans, leases, and cash payments. Though it involves a large up-front payment, cash is the most cost-effective choice because it qualifies you for solar incentives and doesn't accrue interest. Solar loans are the second most effective option. As with a car loan or mortgage, you'll pay a monthly rate towards system ownership, including interest. You can still apply for valuable solar incentives, and depending on your lender, you could put as little as $0 down. Solar leases allow you to use your panels for a fixed monthly rate, while PPAs let you pay only for the energy you use, similar to an electric bill. Both options disqualify you for solar incentives and don't grant you system ownership. Solar experts generally don't recommend them, but they might be suitable in some cases. Look for providers that offer several payment plans to find the right fit for your wallet.
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Frequently Asked Questions About Solar in Amherst
How much money could I save by going solar in Amherst?
How prevalent is solar energy in Amherst?
Should I anticipate a property value increase after adopting solar power?
What is the average payback period for Amherst solar panels?
How many years will a standard solar system last?
Is installing solar panels a quick job?
What are some "red flags" to watch for as I research companies?
- [RandomChoice||High-pressure sales tactics|Aggressive sales pitch|Pushy sales approach|Pressuring you into signing a contract]
- [RandomChoice||Dodging questions|Not being straightforward|Being evasive] about {"cost, warranties, references, the crew's [RandomChoice||credentials and training|training and credentials]"|shuffle_list("or")}
- [RandomChoice||Limited or no customization|"One-size-fits-all" approach|Inflexible options]
- [RandomChoice||Not thoroughly inspecting your site|Superficial, rushed site evaluation|Rushing through the site assessment]
- [RandomChoice||No references or testimonials|More mixed or negative reviews than positive ones|Limited customer feedback|Limited online information|No business filing with your local secretary of state]
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