Benefits of Solar Energy
Solar energy provides multiple benefits. Here are some highlights.
- Lowered energy bills: With solar energy systems, you create power without paying the tacked-on costs of grid-connected power. You can eliminate your bills completely if you go off-grid. Plus, a significant number of states have adopted net metering, which permit you to earn money by selling your unused energy back to the grid.
- Better energy independence: Solar energy can keep your home running through blackouts and emergencies, giving you additional security. You can use your solar energy anytime with an optional battery backup system.
- Reduced carbon footprint: Using clean solar power means you're less dependent on fossil fuels, which emit harmful greenhouse gasses.
What Solar Incentives Are Available to Freeport Homeowners?
New York agencies and electric companies offer multiple solar incentives to help reduce your solar system costs. Here is a breakdown of available solar programs where you live.
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: psegliny.comIncentive Amount:
Appliances
Advanced Power Strips: $10 - $20
Air Purifier: $25 - $50
Clothes Dryer: $50 - $250
Clothes Washer: $50
Dehumidifier: $30
Dishwasher: $50
Exhaust Fan: $20 - $25
Electric Freezer: $30
Heat Pump Water Heater: $650
Pool Pumps: $150 - $350
Refrigerator: $50
Refrigerator Recycling: $50
Lighting
Instant Rebates Vary by Product
Bulk Light Purchases: Up to $2 - $3/unit
Cooling & Heating
Central Air Conditioning: $450
Smart Thermostat: $85
Ground Source Heat Pump: $2,000/ton
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: 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 Freeport
Choosing a company is the first step toward an effective and cost-efficient solar energy system. Here are some important factors to consider while searching for a solar installer.
Licensing and Training
New York regulators do not issue licenses to contractors, so you should check with your city or county government for its specific regulations and requirements. Solar installers can also pursue accreditations from standards organizations and trade groups. The most respected ones in the industry come from the NABCEP. Most company websites will prominently display earned credentials, but you should also ask your estimator for more information.
Cost of Solar Panels in Freeport
Your solar panels' type will influence how much energy you can produce. Monocrystalline panels are among the highest quality and perform the best but cost the most. Polycrystalline panels generate less, but they're a great traditional option for low budgets. Thin-film panels are excellent for non-traditional roof shapes and cost the least, but don't work well for large residential installations.
Additional accessories, such as electric vehicle (EV) chargers and battery storage, will raise your overall installation costs. However, they might make your solar system more efficient and convenient to use. Not every solar contractor offers these extras, so look for a contractor that sells them if it's essential for you.
If you're a resident of Freeport and are looking into a five-kilowatt solar energy system, you could plan to spend about $18,250 for parts and installation. Find more information on specific component and solar panel costs in the table.
Solar Panel Cost | Average Cost |
---|---|
Solar Monocrystalline | $1,239 |
Solar Polycrystalline | $966 |
Thin-Film | $565 |
Solar Battery | $793 |
Solar Home EV Charger | $2,973 |
Financing Solar Energy in Freeport
Solar contractors offer multiple different financing options to lower your costs and increase your savings. Though some providers offer unique payment plans, the most common are cash payments, solar loans, solar leases and power purchase agreements (PPAs). Most solar experts recommend paying cash or using a solar loan. Cash payments require a large up-front sum, but they help you avoid paying interest, grant you system ownership, and qualify you for cost-saving solar incentives. Solar loans have the same benefits, though you'll pay more in total due to interest and fees. Like a car or home loan, you'll pay a set monthly rate with as little as $0 down. Solar leases allow you to pay a monthly fee to rent your panels, while a PPA lets you pay a variable rate based on only the energy you use. We generally advise against these options since you won't own your system and are disqualified from solar incentives, but they might be appropriate in particular circumstances. Look for companies that offer several payment plans to find the right fit for your pocket.
The table below lists the average payback periods for different capacities of solar systems in Freeport.
You are eligible for a 26% federal solar tax credit for new solar power systems until the year 2032. Local and state governments and utility companies might also offer discounts, rebates, and unique financing solutions that could save you more.
Solar System Capacity | Estimated Payback period |
---|---|
1 kW | 2.6 years |
2 kW | 5.1 years |
5 kW | 12.9 years |
10 kW | 25.7 years |
Ready to Get a Quote on Your Solar Project?
Please enter a valid 5-digit zip code!
Frequently Asked Questions About Solar in Freeport
How much money could I save by going solar in Freeport?
Is solar energy readily available in Freeport?
Will solar panels increase my Freeport home value?
Could I still use solar power if I live in a rainy, dark, or wooded area?
What's a Freeport solar panel's average lifespan?
How long does the solar panel installation process take?
What is "net metering," and how does it work?
To share feedback or ask a question about this article, send a note to our Reviews Team at reviewsteam@thisoldhousereviews.com.