Solar Panel Installation for New York State
Paradise Energy Solutions is helping create a bright and sustainable future for New York homes and businesses
With all of the incentives offered in Central New York, a 5kW system will pay for itself in 6 years!
New York’s generous solar power tax credits, rebates, and other incentives make it easier than ever to go solar, whether you’re in the Big Apple or Niagara Falls.
We’re proud of the name we’ve built for ourselves in New York, based on our outstanding service and the great value we provide our residential, business, and agricultural customers. Paradise Energy Solutions serves upstate New York residents and businesses from our office in Himrod and Eastern New York from New Windsor.
Average price of electricity in New York: $0.16/kWh.
A 5kW solar panel system generates 5,750kWh of electricity per year.
Anticipated savings: $920
Reduce Your Monthly Utility Bill
From the start, our focus is to design and install the most efficient solar panel system for your needs and budget. This extra attention and expertise translates into a lower monthly energy bill for you. Typically, your monthly solar energy bill combined with your new electricity bill will be much lower than your old electricity bill. Over several years, those savings add up, plus you shield yourself from unpredictable energy cost fluctuations.
Get Guaranteed Results
We’re absolutely confident in our solar panel installation work. We offer a 10-year performance guarantee on each new system that we install. What does that mean? If your solar electric system does not produce what we say it will, we will pay the difference at your current electric rate.
New York Solar Tax Incentives Make Going Solar Even Easier
Paradise Energy Solutions is a New York State Energy Research & Development Authority (NYSERDA) approved installer of solar electric systems.
NYSERDA provides incentives for the installation of approved, grid-connected photovoltaic (PV) systems. The maximum capacity supported by the program is 25 kilowatts (kW) for residential systems and 200 kW for non-residential systems. The maximum incentive per meter for residential systems is $25,000 and the maximum incentive per meter for non-residential systems is $140,000.
Only systems installed by eligible, NYSERDA-approved contractors qualify for the rebates (Paradise Energy is approved). Incentives are only paid to eligible installers and incentives are applied against the customer’s invoice. Due to this arrangement, the PON 2112 PV Program is also very useful as a means to finance your project.
Contact us today to take advantage of this rebate!
New York state offers a 25% tax credit (maximum $5,000) for solar electric systems. Any amount of the credit that exceeds a taxpayer’s liability in a given tax year may be carried forward for the 5 following taxable years. Learn more about New York financial incentives.
Sales Tax Exemption
Solar panel system installations are 100% non-taxable in New York, including New York City.
Property Tax Exemption
Property taxes from increased home value due to a solar installation are 100% of the value added to the residence by the improvements, which is a big deal when you consider that adding solar panels to your home could increase its value significantly. (source)
We will help you with all of the tax paperwork too!
Projects Paradise Energy Solutions has done in New York
Federal & State Tax Incentives
A 30% tax credit allows you, as the homeowner, to claim a credit on your federal tax return worth 30% of the solar array installed cost. Photovoltaic systems must provide electricity for the residence, and must meet applicable fire and electrical code requirement in order to qualify for the tax credit. This credit can be carried forward to future tax years if it is not claimed in its entirety in the year that the solar panels are installed. For example, let’s say you’re claiming a $2,500 credit on a $2,000 tax bill – you can’t use the credit to get $500 back from the IRS. Instead, you’ll carry over the credit to the following tax year.
Tax Credit vs. Deduction
A tax credit is taken directly off your tax payment, rather than as a deduction from your taxable income. The solar panel tax credit may be applied to a primary residence, a vacation home, and for either an existing structure or new construction. Other than the cost of the system, there is no limit on the dollar amount of the credit.
A 30% tax credit allows the business owner to claim a credit on Federal income taxes worth 30% of the installed cost of a solar facility. There is no maximum set for the credit. There are provisions for carryback of the credit to previous years and carry forward of the credit to future tax years.
Modified Accelerated Cost-Recovery System (MACRS) allows businesses to recover investments in solar property through depreciation deductions. This is achieved through a 5-year tax depreciation schedule, allowing a business to recover a portion of their investment quickly.
Eligible Solar Energy Systems Must Do One (or More) of the Following:*
• Generate electricity
• Heat or cool a building
• Provide hot water (for use in a structure, or to provide solar process heat)