Current Federal, New York State and Long Island incentives for homeowners to install solar are abundant. Cantiague Electric is a certified solar installer and we are Long Island solar experts. As an ethically-minded, approved and licensed solar panel installer, we will respond to your questions with honest answers to help you decide if solar is advantageous for you.
Below is a list of rebates and incentives which will help you decide whether to Go Solar!
Investment Tax Credit
A personal tax credit of 30% is allowed to taxpayers on the cost of equipment and installation of residential solar systems.
Residential Mortgages for Energy Efficient Systems
You may be eligible for this federal program, which finances energy-efficient mortgages (EEM), partially paying for your new solar panel system.
New York State Incentives
State Sales Tax Exemption
Homeowners who install renewable energy systems in their homes are granted tax exemptions based on home “improvements”.
Solar Energy System Equipment Credit
Homeowners are allowed a tax credit of 25% of the value of installation and equipment of PV systems, up to a $5,000 maximum credit. Residential PV systems must not exceed a size of 10kW to qualify for this credit.
Property Tax Abatement for PV Equipment Costs
Homeowners who install renewable energy technologies in their residences are granted complete tax exemption on “home improvements”. Solar systems are completely exempt from state sales tax.
Long Island Incentives
PSEGLI-NYSERDA Residential Solar Rebate Program
PSEG-LI solar rebates are available through the EPBB (Expected Performance Based Buydown) Program. See below for details.
Under the EPBB program, the best performing systems enjoy the highest rebates. Program guidelines for systems that are less than optimum are awarded lower rebates. An average systems is currently awarded about $0.66 per watt.
Factors that affect your rebate potential include:
• Roof Pitch
• Directional orientation
• Solar equipment quality
• System design
This is where we’d like to recommend that you enlist the services of Cantiague Electric to help you as you consider (and perhaps install) a solar (PV) system. Mike Diehl is a NABCEP PV installer, as well as a licensed Master Electrician. You will find that Mike’s superior knowledge and experience in solar and electrical work will be a great asset to you in every stage of your potential project. Mike designs the best performing and most cost efficient solar electric systems. His systems qualify for the highest possible rebates available for your specific property, as well as yielding high energy production!
Long Island Power Authority (LIPA) - Net Metering
LIPA offers net metering benefits to customers who have installed solar, wind or hybrid systems of up to 27.5kW. A specialized electric meter must be installed, measuring both your home’s upstream and downstream electricity transfer rates. Net excess generation (NEG) accrues at your normal hourly electric rate. The net result is a monthly credit on your electric bill.
Solar building permit fees have been reduced to $100.
Fees for building permits are waived for construction of solar PV systems.
Residents of Riverhead who install a PV system on their property can get their building permit for $150, instead of the old $1,000 and up fees.
Southampton - Residential Rebate Program
Southampton homeowners who install solar systems with an output of 5kW or more are granted a $2,500 bonus. All necessary certificates and invoices need to be submitted to qualify. Cantiague Electric can help you with the paperwork. Smaller systems are ineligible for this rebate.