New York’s solar incentives make installing solar panels affordable. Coupled with federal incentives, you can install solar for a fraction of the price and start saving big on electricity.
National Grid Grant
Available to National Grid customers installing solar at a location that processes food (like a farm, orchard, or vineyard), this program offers grant amounts dependent on the size of your system:
This grant from New York state cuts the amount of money you need to finance and is available to any project in New York.
If you’re a business, you can accelerate all depreciation benefits on your solar system to the year it is placed into service, greatly reducing the upfront costs.
Federal Solar Tax Credit
As long as you have tax liability and own your solar system, you’ll be able to recapture 30% of the system cost by deducting it from your owed taxes. But come 2020, this credit begins to step back. Learn more here.
By using these available incentives and a USDA REAP Grant, Frank Gallagher, CFO of Leprechaun Lines and Gallagher Bus, cut the price of his system by 71%. “This system will be paid for in four years. After that, 26 years of free electricity.”
But don’t wait! Starting in 2020, these incentives start going away.
Check out the chart below for an idea of how much you could save on solar.
|$600/Month Electric Bill||$1,200/Month Electric Bill|
|30% Federal Tax Credit||$33,720||$63,600|
|National Grid Grant (food producers/farmers only)||$25,000||$25,000|
|System Cost After Incentives||$3,617||$26,189|
|Payback Period||Less than 1 year||Less than 2 years|
Paradise Energy Solutions is a family-owned, full-service solar installation company. Since 2009, we’ve helped more than 1,000 businesses, homeowners, and farmers throughout the mid-Atlantic states become good stewards of God’s abundant resources by installing solar systems. Our craftsmanship and expertise are backed by our Triple Ten Guarantee and our status as an NYSERDA-recognized Quality Solar Installer.