Over 70,000 homes are currently using solar energy in New York State and thousand of more homeowners are considering their solar options. New York State is making solar energy more accessible to homeowners through NY-Sun. New York is allowing residents to choose clean energy while decreasing their energy costs through various incentives and financing options. In addition, NY-Sun also offers solar education, local government resources and community solar projects.
Why Should New York State Homeowners Choose Solar Energy?
Solar energy offers New York State homeowners many benefits including:
- Saving money through reduced electricity bills
- Accessing federal, State, and local tax credits for eligible solar projects
- Creating stability during periods of electric rate changes
- Contributing to a cleaner and healthier community by reducing your carbon footprint
New York residents can access the benefits of solar energy through the following NY-Sun programs:
NY-Sun works directly with solar contractors and developers like Surf Clean Energy to offset the cost for New York residents to go solar. Incentives are provided directly to the contractor and vary throughout the State. NY-Sun also offers additional incentives to some homeowners through Affordable Solar. Affordable Solar doubles the amount received for households earning less than 80% of the median income in the area. Surf Clean Energy works with you to assess what incentives you are eligible for and to complete all required applications.
NY-Sun Financing Options
In addition to incentives, NY-Sun offers two loan options for New York residents: On-Bill Recovery and Smart Energy loans. Loan amounts are available from $1,500 to $25,000 with loan terms of 5, 10, or 15 years to help New York residents finance solar installation.
On-Bill Recovery Loans
On-Bill Recovery Loans are residential loans that make it easy to pay and manage installation costs. The installation costs are added as a line item to your monthly utility bill. Your loan payments are built right into your utility bill so you will not have an extra bill each month. Your monthly payments may not exceed your estimated average monthly energy cost savings. If you decide to sell your home and move, the unpaid balance of the loan can easily be transferred to the new homeowners. Interest rates for these loans are subject to the homeowner’s credit qualification.
Smart Energy Loans
The Smart Energy Loan is a traditional loan that you repay monthly via check or automatic payment. Interest rates are subject to the homeowner’s credit qualification. If you sell or transfer the property, you remain responsible for the balance of the loan
What Is a NY-Sun Community Solar Project?
If you cannot install solar panels on your own home, a Community Solar Project might be a great opportunity for you to explore. Community Solar is an array of solar panels installed in a sunny location that allows you the benefits of solar without home installation. Anyone in the area can access the clean energy produced by these solar panels and earn credits toward their electricity bills.
To be a part of a community solar project, you need to have an account with an electric utility. Locate a community solar project and subscribe to a energy subscription plan that works for you. Your energy provider will deliver energy to you, and you will be credited for your portion of the community solar project on your electricity bill.
New York State is committed to helping its residents integrate solar energy. There are a diversity of solar energy options for NYS homeowners to explore. Surf Clean Energy can help educate you about the different NYS initiatives and assess what works best for your home situation. Schedule a meeting with Surf Clean Energy today.