If you're looking to convert your house to a solar power system, you can read this article to learn more about home solar in New York. Find out which size system you should get and what incentives are available. Plus, you'll learn about the different types of solar panels and the cost of them.
Solar system cost
There are many factors that influence the cost of installing solar panels in New York. Installing a high-efficiency system is more costly than installing one with lower efficiency. It is possible to get a great deal on a solar system within the Empire State. New Yorkers have many options when it comes to solar panels. It is worth comparing different companies before you make a decision.
Fortunately, the federal government offers generous incentives to help you finance your solar investment. The federal investment credit is a tax credit that covers 26% of the cost to install a solar system. This tax credit will gradually diminish until it is 22 % by 2022. After that, it will cease to exist completely.
Cost of solar panels
Cost of solar panels for your home in New York is dependent on many factors. These include the type of panel you choose and the size and shape of your roof. These variables can also influence how much solar energy you are able to produce. Many homeowners can produce enough energy to eliminate future electricity bills and meet their entire electrical bill. Depending upon the size of your roof you can either put fewer or more panels.
The federal government offers a tax credit to solar energy projects. This credit is up to 26% of total cost for installing solar panels in your home. If it isn't renewed, the credit will expire in 2024.
Size of solar system
The amount of electricity you use will determine the size of your solar panel system. In addition, the system size and components you select can influence the overall price of the system. The Empire State has more sunlight than the rest of the country, so homeowners don't have to buy the largest panels. These are usually the most expensive. New York's average solar panel price is not very high. However, the method of payment will influence the cost of the system.
A typical residential solar installation will produce three to ten kW. The size of your home's solar system will be determined by how much energy you use and the size of your roof. A typical 6.5-kW system will generate between 650 and 700 kilowatt-hours each month. This will nearly eliminate your monthly energy bills.
Incentives for going solar in New York
New York provides generous incentives for solar energy, including a $5,000 tax credit which can lower tax payments up to 25%. Both new and existing systems can take advantage of the credits. They are also transferable over time, making them an attractive incentive for anyone who wants to go solar.
The benefits of solar energy are numerous, including a smaller carbon footprint and reduced reliance on the power grid. New York's solar incentives are designed to help residents reap the benefits of this energy and lower their electricity bills. These incentives can be combined with a federal income tax credit to help make a home solar investment.