Benefits of Solar Energy
Solar energy offers multiple benefits. Here are some highlights.
- Lower energy bills: Sourcing some or all of your own energy will save you money on your electric bills long-term. Plus, some states offer net metering programs that enable you to sell your unused energy back to the grid, generating additional credits toward your energy bill.
- Reduced carbon footprint: Utilizing solar is a surefire way to decrease your carbon footprint and home fossil fuel dependency.
- Better energy independence: Adding a battery storage system lets you have dependable energy during storms and grid outages.
What Solar Incentives Are Available to Perinton Homeowners?
Governments and power companies often reward homeowners for going solar. Here are some of the rebates, tax credits or other programs you could qualify for.
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 Perinton
Choosing a company is the first step toward a well-oiled and valuable solar system. Here are some important factors to consider while searching for a solar company.
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 requirements and regulations. Check for private accreditations from the North American Board of Certified Energy Practitioners (NABCEP), one of the solar industry's most credible trade groups. Its program includes certifications for both solar photovoltaic and water heating installers.
Cost of Solar Panels in Perinton
The type of solar panels you choose decides how much electricity you can generate. Monocrystalline panels and high-quality and cost more but give you the best performance. 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 need to charge an electric car or use your solar power in cloudy weather, you can pay extra for accessories. By choosing the right components, you can make your system more productive and convenient to use. Not every solar provider includes these optional components, so look for a contractor that installs them if it's essential for you.
Generally speaking, it will cost about $18,250 for a five-kilowatt solar array in Perinton. This table displays more specific costs for different solar panel types and system components in your area.
Solar Panel Cost | Average Cost |
---|---|
Solar Monocrystalline | $1,177 |
Solar Polycrystalline | $918 |
Thin-Film | $537 |
Solar Battery | $753 |
Solar Home EV Charger | $2,824 |
Financing Solar Energy in Perinton
Solar contractors offer multiple different financing options to increase your savings and lower your costs. Though some providers offer unique payment plans, the most common are power purchase agreements (PPAs), solar leases, solar loans and cash payments. We recommend making a cash payment or securing a solar loan for the highest return on investment (ROI). Cash payments require a hefty sum up-front, but you’ll pay the least long-term by avoiding interest. You’ll also have full ownership of your system and can apply for solar panel incentives to cut your total costs. Solar loans are another solid option if you don’t want to make a big initial investment. You can pay for your system in installments while still enjoying energy bill savings and solar incentives. However, you’ll pay more in total due to accruing interest. Solar leases allow you to pay a monthly rate to rent your panels, while a PPA lets you pay a fluctuating 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 suitable in certain circumstances. Look for providers that offer two or more payment plans to find the right fit for your budget.
The table below lists the average payback periods for different capacities of solar systems in Perinton.
You can claim a 26% federal solar tax credit from the IRS for new residential solar systems purchased before 2032. Additionally, local governments and utilities may have their own rebates and financing plans that could reduce your total cost even 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 Perinton
How much energy and money could I save per year by switching to solar?
How popular is solar energy in Perinton?
Should I anticipate a property value increase after adopting solar power?
Could I still use solar power if I live in a wooded, rainy, or dark area?
How long does the solar installation process last?
How do I care for my new solar system?
What's the difference between a PPA and a solar lease?
You don't own the panels with either option, though you can choose to opt out of the contract for a fee.
Should I get quotes from multiple Perinton solar companies?
To share feedback or ask a question about this article, send a note to our Reviews Team at reviewsteam@thisoldhousereviews.com.