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Will solar save me money in New York?

asked 2015-04-03 00:11:37 -0500

robl73 gravatar image

Reading around here and wondering if someone can lay out the case for whether solar panels are really worth the expense in upstate New York - especially with the sort of snow we get. My electricity bills are usually over $200/mo and I'm considering solar as a way to reduce them.

I live in Buffalo, if it makes any difference.

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answered 2015-04-07 14:21:02 -0500

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updated 2015-04-07 14:21:02 -0500

energysage gravatar image

Hi robl73,

New York State has some of the best incentives for solar power in the country, making the Empire State a great place to go solar. The short answer to your question is yes - solar panels will save you money in New York, regardless of whether you purchase your system (with cash or a solar loan) or you go solar with a solar lease or power purchase agreement (PPA).

With an electricity bill of $200 per month (on the high side), you should be able to save a fair amount by going solar. Since you're in Buffalo, any system you get will be discounted under New York State's Megawatt Block Incentive - check what the going incentive rate for Upstate is on the Megawatt Block Incentive Dashboard.

You'll also be eligible for a 25% state tax break under New York's Solar Tax Credit (regardless of whether you buy or lease your system) and a 30% federal tax break under the federal Investment Tax Credit (ITC) if you purchase your system.

If you're interested in learning more about how much you can save with solar in New York, you could start by getting a free Instant Estimate. If you'd like to see and compare some quotes from installers in your area, shop around on our Solar Marketplace.

Good luck going solar!

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Asked: 2015-04-03 00:11:37 -0500

Seen: 273 times

Last updated: Apr 07 '15