Benefits of Solar Energy
Solar energy provides multiple advantages that will enhance your home for years to come.
- Better energy independence: Photovoltaic solar panel systems with battery backups and storage systems work through power outages and emergencies, and you won't have to depend on the power grid for your safety and comfort.
- Lowered energy bills: You can avoid the premium cost of grid-tied power by generating some electricity at home. Plus, many states provide net metering which can allow you to sell your unused energy back to help pay for your energy bill.
- Reduced carbon footprint: Solar is the universe's most abundant clean energy source, meaning you can minimize or conquer your home's dependence on non-renewable sources.
What Solar Incentives Are Available to Smithtown Homeowners?
New York agencies and electric companies offer a range of solar incentives to help lower your solar system costs. Check out a breakdown of applicable 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 Smithtown
Choosing a company is the first step toward an effective and cost-efficient solar array. Here are some important factors to bear in mind while shopping for a solar specialist.
Licensing and Training
New York state does not issue licenses to contractors, so you should check with your city or county government for its specific regulations and requirements. Look for private accreditations from the North American Board of Certified Energy Practitioners (NABCEP), among the solar sector's most credible trade groups. Its program includes certifications for both solar photovoltaic and water heating installers.
Cost of Solar Panels in Smithtown
Different solar panel types look and perform differently. Monocrystalline panels offer the best energy production but cost more than other options and generally have the highest quality. Polycrystalline panels provide a lower price point but produce less power. Thin-film panels work well for small projects like RVs and sheds, but they're not ideal for larger installations due to their low performance.
Additional system add-ons, such as battery storage and electric vehicle (EV) chargers, will add to your overall installation costs. However, they might make your solar system more efficient and convenient to use. Not every solar contractor provides these optional components, so look for a contractor that sells them if it's a priority for you.
If you're a resident of Smithtown and are looking into a five-kilowatt solar energy system, you could expect to pay about $18,250 for materials and labor. Find more information on specific component and solar panel costs 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 Smithtown
Solar contractors use multiple different financing options to lower your costs and increase your savings. Though some providers offer unique payment plans, the most common are solar loans, power purchase agreements (PPAs), cash payments and solar leases. Most solar experts recommend a cash payment 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 potentially $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 based only on the energy you use, similar to an electric bill. We generally don’t recommend these two choices because you won't own the system and cannot use solar incentives. Look for providers that offer several 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 Smithtown.
The IRS allows you to claim a 26% federal solar tax credit on the full cost of the solar system, so long as you purchase it before 2032. Local governments and utilities might also offer their own incentives, rebates, and financing programs that could save you more money.
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 Smithtown
How much energy and money could I save per year by switching to solar?
How common is solar energy in Smithtown?
Should I anticipate a property value increase after adopting solar power?
What can I do to assess my home's solar viability?
How long does the photovoltaic installation process take?
What size should my new Smithtown solar system be?
What are the signs I shouldn't use a particular solar company for my job?
- Pressuring you into signing a contract
- Being evasive about cost, credentials and training, warranties and references
- Inflexible options
- Superficial, rushed site evaluation
- Limited customer feedback
How are traditional solar loans and PPAs different?
You might consider a PPA if you don’t want to be responsible for maintaining your panels and don’t want to invest in a system, but keep in mind you won’t be paying toward ownership or be able to access any solar financial incentives. Many solar experts don’t recommend PPAs. Our guide covers other payment options above.
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