News about renewable energy and electric vehicles
Solar energy

Solar Rebates And Incentives

solar panel farm

Solar initiatives have been a key contributor to inspiring U.S. citizens to invest in solar power.

State governments want to make it possible for residents to choose clean energy while decreasing costs. States like New York have implemented government policies, for example, the Reforming the Energy Vision implemented by Governor Andrew Cuomo, to create cleaner energy systems all across the U.S.

Solar Incentives

Incentives can vary depending on the state that you’re in however, some states work directly with solar contractors and developers to offset the costs to residents. Read more about how solar rebates and incentives can support your solar installation. Incentives can be attributed directly to your state-approved solar contractor.

Affordable Solar

There are solar incentives for homeowners that don’t make the state’s median income. For example in the state of New York, they increase the number of incentives to those that make less than 80% of the median income.

Solar Financing

Some states have begun offering loans for people interested in reducing their reliance on utility companies and nonrenewable energy sources.

New York has two options that include adding the loan to your utility bill or loans made directly through New York State Energy Research and Development Authority’s loan servicer. Loan amounts are available from $1,500 to $25,000 with terms between five and fifteen years.

Solar Education

States are providing homeowners with valuable information on how solar power can be a clean energy alternative.

States have initiated solar campaigns to give neighborhoods access to community solar projects through local outreach efforts. States are also providing guidance with tools and resources on how to encourage solar energy development locally in their communities.
State-level solar technical assistance is also helping local communities implement solar initiatives.

Solar Tax Credits

Owners of qualifying solar installations can file for federal tax credits that accelerate the depreciation of the cost of their installation. The U.S. government and the state of New York offer the following tax crediting options:

  • 26% Federal Tax Credit
  • Commercial Depreciation Allowance
  • New York State Real Property Tax Exemption
  • NYC Real Property Tax Abatement Program
  • Solar Property Tax

    States differ on whether or not you’ll be responsible for extra property taxes when installing a solar system.

    New York State for example offers a 15-year real property tax exemption for renewable energy systems but some local governments have opted out of these incentives. Some states also offer solar tax abatement programs to reduce or eliminate the amount property tax homeowners pay on the construction of their solar system.

    Solar Options

    In order to take advantage of solar rebates and incentives communities need to be aware of their solar options:

    Solar Roofing

    Solar panels work best when installed on a sunny south-facing roof with little or no shade. Shingles are permissible as long as there aren’t more than two layers and damaged roofs should be avoided.

    Solar Payment Options

    Solar panels can be leased, purchased via power purchasing agreements, and purchased with loans. Each option has its own pros and cons and makes choosing solar energy a viable option for almost any budget.

    Homeowner’s Association

    It’s important to get the go-ahead from your local homeowner’s association before installing solar panels to ensure you aren’t breaking any of the community bylaws.

    Solar Projects

    If your homeowner’s association objects to your solar installation or your roof aren’t suitable for a solar installation then homeowners can choose for finding a community solar project that may lease or sell them electricity from the community or access to specific panels within the community.

    Article written by:

    I am a writer and reporter for the clean energy sector, I cover climate change issues, new clean technologies, sustainability and green cars. Danny Ovy

    Leave a Reply

    © 2012 - 2024 -