Benefits of Solar Energy
Solar energy comes with multiple advantages. Let's look at a few of them.
- Better energy independence: Solar energy can keep your home powered through emergencies and blackouts. You can use your solar energy anytime with an optional battery storage system.
- Lower utility costs: Generating some or all of your own power will cut power costs long-term. Plus, some states offer net metering programs that enable you to sell your unused energy back to the grid, generating extra credits toward your energy bill.
- Reduced carbon footprint: Solar is one of the universe's most abundant clean energy sources, meaning you can minimize or conquer your home's dependence on fossil fuels.
What Solar Incentives Are Available to West Babylon Homeowners?
New York homeowners who decide on solar could qualify for reimbursements, rebates, tax credits and special financing. Here are just a few of the region's incentive offerings.
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 West Babylon
Choosing a company is the first step toward a well-oiled and cost-efficient solar energy system. Make your choice based on the following vital factors.
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 regulations and requirements. You should also visit a company's website to learn about its private credentials. Two of the most recognized are the Solar Heating Installer and PV Installation Professional 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 West Babylon
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 raise your overall installation costs. However, they might make your solar system more efficient and convenient to use. Not all solar providers include these add-ons, so look for a provider that sells them if it's crucial for you.
Generally speaking, it costs about $18,250 for a five-kilowatt solar array in West Babylon. This table displays more specific prices for different solar panel types and system components in your area.
| 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 West Babylon
Solar providers use multiple different financing options to increase your savings and lower your costs. Though some providers offer unique payment plans, the most common are solar leases, power purchase agreements (PPAs), solar loans and cash payments. Though it requires a large up-front payment, cash is the most affordable choice because it doesn't accrue interest and qualifies you for incentives. Solar loans are the next best option. As with a home or auto loan, 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) allows you to pay a monthly rate determined by the energy you use, as with an electric bill. We usually don’t recommend these two options because you won't own the system and cannot use solar incentives. Ask each provider you're evaluating about the payment options it offers. A team member can help you determine the best option for your pocketbook.
The table below lists the average payback periods for different capacities of solar systems in West Babylon.
You are eligible for a 26% federal solar tax credit for new solar energy devices until the year 2032. Municipal and state governments and utility companies might also offer discounts, rebates, and dedicated financing plans 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 West Babylon
How much energy and money could I save per year by switching to solar?
How popular is solar energy in West Babylon?
Should I expect a property value increase after switching to solar energy?
How can I check my home's solar viability?
How long will an average solar system last?
What size should my new West Babylon solar system be?
How does "net metering" work, and do I need to participate?
What's the difference between a PPA and traditional financing?
In contrast, solar loans can come from installer, the government, local banks and specialty lenders. You'll need to pass a credit check to qualify for most of them. While the upfront costs are larger, and you'll be responsible for maintenance, you'll also have complete ownership and can apply for many more financial rewards.
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