New York solar incentives and rebates are some of the best in the country. Virtually every state in the country has some kind of support program for rooftop solar energy systems. But you're especially fortunate if you're planning on going solar in New York State as your state has some of the most ambitious solar incentives in the country. Thanks to these incentives, solar has become a very attractive investment in New York.
THE SOLAR TAX CREDIT IS EXPIRING SOON!
Extended renewable energy tax credits have been included in a $1.4 trillion federal spending package alongside a $900 billion COVID-19 virus relief spending bill. The solar investment tax credit (ITC), which was scheduled to drop from 26% to 22% in 2021, will stay at 26% for two more years. This means solar projects in all market segments (residential, commercial, industrial, utility-scale) that begin construction in 2021 and 2022 will still be able to receive a tax credit at 26%. All markets will drop to a 22% tax credit in 2023 so don't delay!
In a conventional net metering situation, a customer-sited renewable energy system is connected to the utility grid through a customer’s utility meter. This is known as “behind-the-meter generation.” At any given moment, if the site is using more electricity than the system is producing, all the electricity produced by the system is used on-site and the site’s electricity needs are supplemented from the grid. If the site is using less electricity than the system is producing, the excess electricity is exported to the grid and the customer receives a credit. This is typically recorded as negative use and is commonly referred to as the “meter spinning backwards.” At the end of the billing cycle, the grid-supplied electricity and the credits for any exported electricity are reconciled, and any surplus credits can be carried forward to the next billing cycle. The specifics of net metering are dependent on the customer’s service classification. Customers who are eligible for Remote Net Metering may apply those credits to other accounts.
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Our renewable energy specialists will review your data to confirm your eligibility for state and federal incentives. We'll do that by generating a custom design to offset your electric usage. Enter in some simple answers regarding the property and we'll get back to you right away to schedule a quick review.