Do Solar Panels Make Sense In New York

More famous for their cold snowy winters than sunny summer days.

Do solar panels make sense in new york.

Thank davis for the post. In new jersey homes with solar panels can sell for 9 9 more than homes without solar energy systems. Furthermore new york state has a net metering system where the export of excess energy from your solar system will directly offset power used at other times of the day or year allowing you to reap the entire benefits of any solar power you generate. The megawatt block incentive structure new york s megawatt block incentive is a direct generous incentive for solar energy available under new york s ambitious ny sun initiative.

You might be asking who doesn t pay income taxes. In fact some of the states with the most installed solar in the country including new york new jersey and massachusetts are in the northeastern u s. There are better ways to spend those dollars as we transition away from a hydro carbon economy. Federal and new york state subsidies make solar a sweet deal.

That is a profit of 32 281 for the median valued home in that state. Some other ideas are described in my sustainable energy manifesto. There are three main incentive programs that make going solar a sweet deal in new york. Tax credits are very beneficial but if you pay no state or federal income tax there s nothing to credit you.

And while the cost of solar panels has dropped more than 70 since 2010 according to the solar energy industries association batteries can cost as much as 10 000 to 15 000 including installation according to solar united neighbors. By the time you leave this room i would like to have every one of you convinced that solar energy can make sense in new york said richard perez a research professor at the state university. On top of the federal government s 30 investment tax credit itc for solar which is set to expire at the end of 2016 new york also has a robust incentive framework of its own including the megawatt block incentive a solar net metering policy that ensures that your utility company pays you a fair rate for your extra solar power and a state tax credit of up to 5 000. All in all looking at roof top solar panels perfectly objectively they just don t make sense.