Value Of Solar Panel In Ny

New york state is funding solar farms to benefit homeowners and renters who may not be able to access solar clean energy.

Value of solar panel in ny.

New york residents who install rooftop solar equipment are eligible for the federal renewable energy tax credit which is equal to 30 percent of the cost of a pv solar system for systems in service by the end of 2019 with the credit decreasing through 2021. That s a good sized savings. The tax credit is capped at 5 000. New york s residential solar tax credit is equal to 5 000 or 25 percent of the cost of your solar system whichever is less.

On a cost per watt w basis a solar panel installation in new york ranges in price from 2 47 to 3 35. Ny sun mw block incentive. Solar for all is a new york state utility bill assistance program. The average cost for an installed residential solar system in new york is currently 12 716 after claiming the 26 federal solar tax credit.

Solar panel cost in new york. For instance if your system costs 15 000 you d be able to take a 3 750 tax credit on your state taxes. This combined with the federal tax credit provide subsantial savings on the cost of a solar installation. If you live in new york city you can take advantage of the new york state tax credit which is equal to 25 of the costs of you solar panel installation.

The average cost of a solar panel installation in new york ranges from 12 368 to 16 732.