As the demand for clean energy continues to rise, New York is making significant strides in promoting solar energy adoption among homeowners. There are a lot of different New York State solar incentives available for homeowners to take advantage of in 2024. If you’re one of the many considering the switch to solar energy, you should know about all the solar panel rebates and incentives available to you. Today, we’re going to dive into New York State solar incentives for homeowners so that you have all the information you need to make a smart, financially-informed decision about your home’s energy.
New York State Solar Incentives
NYSERDA Solar Incentive Program
The NYSERDA Solar Incentive Program is a key component of New York’s efforts to promote solar energy adoption among homeowners. This program offers cash rebates to residents who install solar panel systems, making solar more affordable and accessible. The amount of the rebate depends on the size of the solar system installed, with larger systems typically qualifying for higher rebates. Homeowners can apply for these incentives through the New York State Energy Research and Development Authority (NYSERDA) once their solar system is installed. In 2024, the program continues to emphasize sustainability, encouraging homeowners to contribute to New York’s clean energy goals. By taking advantage of the NYSERDA Solar Incentive Program, homeowners can significantly reduce their upfront costs and enjoy the long-term benefits of solar energy.
EmPower+
EmPower+ is a New York State solar incentive that makes solar energy more affordable for low- and middle-income households. Along with other energy-efficiency home upgrades, EmPower+ provides solar energy upgrade rebates at a lower cost. The solar panel rebate is income based.
- Low-Income Households: Capped at $10K per project.
- Moderate-Income Households: Capped at $5K per project.
This solar incentive helps make the financial investment in solar panels easier for low and middle income New York households interested in solar energy.
Federal Solar Incentives Available in New York State
Residential Clean Energy Credit
The Residential Clean Energy Credit is a federal solar panel rebate available to New York State homeowners. This credit is a part of the Inflation Reduction Act of 2022 aimed at increasing green energy and reducing costs. Through this credit, homeowners can deduct 30% of their total solar installation costs from their federal taxes, including both the equipment and installation expenses. The best part about this credit? There’s no maximum limit on the claim amount. That means you can enjoy a bigger solar panel rebate when you install a bigger solar energy system. This solar incentive isn’t just limited to solar panels. It also covers solar energy storage solutions like batteries, further reducing costs for homeowners installing new solar energy systems. Claiming the Residential Clean Energy Credit is a simple process that can be done when filing federal income taxes. By using this credit, homeowners can make the upfront cost of solar panels more manageable.
Local Solar Incentives & Rebates
The New York State solar incentives aren’t just limited to state-wide rebates. There is also a variety of local solar panel rebates homeowners can take advantage of through their utility companies and local governments. These programs vary based on where in New York State you live. Some local solar incentives include upfront cash rebates for solar panel installation. Some utility companies also provide incentives based on how much energy is generated by your solar panels. Regardless of where you live in New York State, make sure to look into your local government and utility providers’ solar panel rebates and incentives to maximize your solar cost savings.
Attyx’s Solar Panel Installation Services in New York State
Switching to solar energy is easier when you have the right team by your side. At Attyx, our solar energy experts will help design and install a solar energy system for your New York home. We’ll also make sure you’re aware of all of the New York State solar incentives available to you to make the financial investment easier. Reach out to us today to get started.
