Solar Power is Still A Great Deal
President Trump’s decision to impose a 30 percent tariff on solar panels was not the decision we were hoping for, but we were not surprised by it and had been busy preparing for months to avoid a price increase. We can assure our customers that we are committed to our current pricing and don’t anticipate any increase. And, as a local company serving the Tri-State area, customer service and customer satisfaction will always be our top priority including our use of the highest quality materials, having the most efficient delivery schedules and providing attentive service.
In New York state, which has some of the most expensive energy costs in the U.S., solar energy will continue to be a great investment and will still save you money, no matter what tariffs are passed. We are very fortunate to live in a state that has significant state tax credits that will help you save even more on solar.
Here are some of the details on how you can save money with solar:
- Cost is way down. If you’ve been waiting for solar prices to drop, they already have. Residential solar prices are at an all-time low. And, here in New York, utility rates are extremely high. So, by producing your own energy you are saving on your electric bills, as well as protecting yourself from the potential of future rate hikes. No matter how high rates may sky rocket you will be saving.
- 30 Percent Federal Tax Credit is Still Here! In our blog a few weeks ago, we told you about the 30% Federal Solar Tax Credit that was preserved in the new GOP Tax Plan. Although the tax credit is good for 2018, we can’t guarantee it for longer, and after this year the credit will drop down to 26%.
- Current New York State Solar Incentives are Fantastic. New York has some of the best solar incentives in the country. We now have three main incentive programs offered by the state. The first being New York’s Megawatt Block Incentive, which we mentioned above in #1. The second incentive is Net Metering, which ensures you are paid a fair price for the solar electricity your system sends to the grid. Should you have excess solar power, these credits will be stored for you in a “credit bank” and can be used in months where your system produces less energy. New York’s third main solar incentive is the New York Solar Tax Credit, which can reduce state taxes by 25% or $5,000. This tax credit is available to those who either purchase or lease. What’s great about this incentive is if your tax liability isn’t large enough for you to receive your total credit in the first year, it can be rolled over to the following year, ensuring you get the most out of your investment.
- Start Saving as Soon as You Can: The sooner you install, the sooner you’ll start saving and also gain energy independence!
We offer a free solar consultation to find out if your home or business is right for solar. For more information, call 914-762-7622 or www.sunrisesolarllc.com.