Benefits of Solar Energy
Solar energy comes with multiple benefits. Here are some highlights.
- Better energy independence: Solar panel systems can keep your home functioning through blackouts and emergencies, giving you additional security. You can use your solar energy anytime with optional battery storage.
- Reduced carbon footprint: Solar is a highly abundant clean energy source, meaning you can minimize or conquer your home's dependence on non-renewable sources.
- Lower utility costs: Generating some or all of your own power will save you money on your electric bills long-term. Plus, some states provide net metering programs that allow you to sell your unused energy back to the grid, generating additional credits toward your energy bill.
What Solar Incentives Are Available to Islip Homeowners?
New York homeowners who choose solar could qualify for special financing, rebates, reimbursements and tax credits. Here are just a few of the region's incentive programs.
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 Islip
The more informed your company investigation is, the better your solar installation will ultimately function. Make your choice based on the following essential elements.
Licensing and Training
The New York state government does not issue licenses to contractors, so you should check with your county or city government for its specific requirements and regulations. You should also visit a company's website to learn about its private credentials. Two of the most respected are the PV Installation Professional and Solar Heating Installer certificates, awarded by the North American Board of Certified Energy Practitioners (NABCEP). Some companies don't publish this information online, so you should also ask your estimator about them.
Cost of Solar Panels in Islip
The style of solar panels you purchase dictates how much electricity you can generate. Monocrystalline panels and high-quality and give you the best performance but cost more upfront. 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 meant for large home installations, but they're excellent for small projects like sheds and RVs.
You can also add electric car (EV) chargers and battery backup systems. These will increase your total installation cost, but they can increase your solar system's efficiency. Not every solar company includes these add-ons, so look for a company that sells them if it's a priority for you.
Most Islip homeowners opt for solar systems designed for five kilowatts (kW) of electrical capacity. These systems cost about $18,250 to set up, considering both parts and installation. You can find more specific solar cost information in the table.
Solar Panel Cost | Average Cost |
---|---|
Solar Monocrystalline | $1,180 |
Solar Polycrystalline | $920 |
Thin-Film | $538 |
Solar Battery | $755 |
Solar Home EV Charger | $2,832 |
Financing Solar Energy in Islip
Choosing the right financing solution will affect your overall solar system cost and potential savings. Common payment options include cash payments, leases, loans, and power purchase agreements. Though it involves a large up-front payment, cash is the most cost-effective choice because it doesn't accrue interest and qualifies you for incentives. Solar loans are the next best option. As with a car loan or mortgage, you'll pay a monthly rate towards system ownership, including interest. You can still apply for money-saving solar incentives, and depending on your lender, you could put as little as $0 down. Solar leases involve paying a set monthly rate to use rooftop panels. A PPA (Power Purchase Agreement) enables you to pay a monthly rate determined by the energy you use, as with an electric bill. We typically don’t recommend these two choices because you won't own the solar system and cannot use solar incentives. Look for installers that offer two or more payment plans to find the right fit for your financial needs.
The table below lists the average payback periods for different capacities of solar systems in Islip.
You are eligible for a 26% federal solar tax credit for new solar energy equipment until the year 2032. Municipal and state governments and utility companies might also offer rebates, discounts, and specialized financing options 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 |
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Frequently Asked Questions About Solar in Islip
How much money could I save by going solar in Islip?
Is solar energy widely available in Islip?
Should I expect a boost in my property value after switching to solar energy?
Could I still use solar power if I live in a wooded, dark, or rainy area?
What can I do to estimate my home's solar potential?
How long does a standard solar system last?
How are a solar lease and PPA different?
You don't own the panels with either option, though you can choose to "buy out" of the contract for a fee.
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