Solar panels convert sun light in to electrical energy in the form of Direct Current (DC) electricity. The DC electricity is then converted to Alternating Current (AC) electricity, that can be used in our homes. The electricity made will be used in your home. If you are making more than you can use, the electricity is pushed back into the Utility Grid where it is consumed by neighboring consumers. When the electricity travel back through the meter, the utility registers the electricity, as a credit to you in the form of kilo-watt hours (kWh). The kWh credit can then be used at times of low or no sunlight. Essentially, you are storing your excess energy, with the utility company, until you need it.
NYSERDA Incentive (Grant): The New York State Energy Research and Development Authority (NYSERDA) provides cash incentives for the installation by Eligible Installers/Contractors of new grid-connected Electric Photovoltaic (PV) systems that are 25kW or less for residential, and 200 kW or less for non-residential sites. Incentives are granted on a first-come, first-serve basis, and PV incentive applications will be accepted through December 31, 2023, or until funds are fully committed, whichever comes first. Current funding for residential projects is $.35 per installed watt and can change at any time.
New York State Tax Credit: Residential PV systems (Grid-Tied) are eligible for a 25% NYS tax credit, not to exceed $5,000. Tax credits are requested when filing your annual NYS Income Tax.
Federal Tax Credit: Residential PV systems (Grid-Tied) or (Off-Grid) are eligible for a 26% Federal tax credit.
There are several ways to finance a Solar PV system, including home equity loan, and home improvement loans.
NY-Sun offers two loan options for residents: On-Bill Recovery and Smart Energy loans. Loan amounts are available from $1,500 to $25,000 with loan terms of five, 10, or 15 years to help New York residents finance solar installation.
We offer special pricing, options, or payment plans throughout the year, contact us for current offerings.
Online solar energy production monitoring allows the system owner and the installer to monitor energy production, in real time. If a problem occurs, the cause can be identified and corrected quickly to reduce the loss of energy production. A free cellular application allows monitoring from your smart phone.