RESIDENTIAL SOLAR ELECTRIC INCENTIVES
For Long Island Homeowners
All added together, these incentives and rebates cover over 60% of your investment
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| Value of electric produced in 25 years: $88,894 | NET RETURN on solar electric installation $ 77,741.50 |
Financial Incentive Programs
SAME AS CASH
In a continuation of Energy by Choice’s mission to always improve the client’s experience Energy by Choicehas entered into a strategic relationship with EnerBank making available:
- No payments and no interest for 12 months on approved credit
- 100% unsecured financing from $1,000 to $45,000 on approved credit
- A quick, easy, and safe toll-free loan-by-phone application process
- A fast credit decision in about 10 minutes
- No paperwork
- Peace-of mind because you provide your personal financial information directly to the bank and not to your dealer or over the internet.
Various financing options are available for qualified systems. Contact an Energy by Choice specialist for details.
Rebates and Tax Credits for Residential Solar Electric
LIPA rebates, State and Federal tax credits help make solar power even more affordable. These programs and their details can change.
Rebates
LIPA is currently offering rebates as incentives for the installation of Photovoltaic (PV) systems in LIPA's service territory. Rebates are available on a first-come, first-served basis, based upon an application form (prepared by Energy by Choice) and pre-approval by LIPA http://www.lipower.org/. Incentives are $1,750 per kilowatt (DC), of installed equipment (max. 10 Kilowatts).
Federal and State Solar Tax Credit
Federal and State governments offer tax incentives to promote the installation of Solar Electric (Photovoltaic or PV) equipment. These incentives are in addition to LIPA's incentives for PV installations.
Federal Solar Tax Credit
As part of the Federal Energy bill, the Federal Government offers up to a 30% tax credit (with no limit) for the purchase of PV equipment. Any unused credits can be rolled over to subsequent years.
New York State Solar Tax Credit
In addition to the Federal tax credits, New York State homeowners can take advantage of a 25% tax credit toward the total cost of a PV system to reduce your State tax, with a maximum credit of $5,000.
County and Town tax credits
Incentives may be available for your town. Contact Energy by Choice for the latest information.
New York State's Real Property Tax Law
A Solar Electric system can improve the value of your property. New York State's Real Property Tax Law allows a 15-year real property tax exemption for solar systems installed in New York State. Please note that each county, city, town or village in NY State has the right to disallow the exemption.
FINANCING AVAILABLE FOR QUALIFIED CUSTOMERS.
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