Benefits of Solar Energy
Solar energy provides multiple advantages that will enhance your home for years to come.
- Reduced carbon footprint: Using clean solar power reduces your dependence on fossil fuels, which release greenhouse gases that damage the environment.
- Better energy independence: Solar panel systems with battery backups and storage systems operate through power outages and emergencies, and you won't have to rely on the grid for your safety and well-being.
- Lowered energy bills: You can skip the expensive cost of grid-tied power by creating some electricity right where you use it. Plus, many states provide net metering which can allow you to sell your unused energy back to credit part of your bill.
What Solar Incentives Are Available to Staten Island Homeowners?
New York agencies and electric companies offer a number of solar incentives to help offset your solar system costs. Here's 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: 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 Staten Island
The purchase price and effectiveness of solar panels often hinge on which company mounted them. Consider all of these criteria in your contractor search.
Licensing and Training
The New York state government does not issue licenses to contractors, so you should check with your city or county government for its specific requirements and regulations. Solar providers can also pursue certifications from trade groups and standards organizations. The most respected ones in the industry come from the North American Board of Certified Energy Practitioners. Most company websites will prominently display earned credentials, but you should also ask your estimator for more information.
Cost of Solar Panels in Staten Island
The style of solar panels you select decides 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 the best for large residential installations, but they are excellent accessories for non-traditional roofs.
You can also add battery backups and electric vehicle (EV) chargers. These will increase your total installation cost, but they can improve your solar system's efficiency. Not all solar contractors include these add-ons, so look for a company that installs them if it's crucial for you.
If you're a resident of Staten Island and are considering getting a five-kilowatt solar energy system, you could expect to pay about $18,250 for materials and labor. See more information on specific component and solar panel costs in the table.
Solar Panel Cost | Average Cost |
---|---|
Solar Monocrystalline | $1,214 |
Solar Polycrystalline | $947 |
Thin-Film | $554 |
Solar Battery | $777 |
Solar Home EV Charger | $2,914 |
Financing Solar Energy in Staten Island
Choosing the optimal financing plan will affect your overall solar system cost and potential savings. Common payment options include cash payments, power purchase agreements, leases, and loans. We advise making a cash payment or using a solar loan for the best 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 reduce 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 benefiting from energy bill savings and solar incentives. However, you’ll spend more in total due to accruing interest. Solar leases involve paying a set monthly rate to use rooftop panels. A PPA (Power Purchase Agreement) permits you to pay a monthly rate determined by the energy you use, similar to an electric bill. We generally don’t recommend these two options because you won't own the solar system and cannot use solar incentives. We suggest working with a company that offers multiple financing options. Talk to each representative about what's available, and obtain more than one estimate for the best odds of keeping within your budget.
The table below lists the average payback periods for different capacities of solar systems in Staten Island.
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. City and state 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 Staten Island
How much energy and money could I save per year by switching to solar?
Is solar energy widely available in Staten Island?
Should I anticipate a property value increase after installing solar panels?
Is solar installation a quick job?
How do I care for my new solar system?
What size should my new Staten Island solar system be?
How many estimates should I get before making a final solar company decision?
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