Solar Panel Installation FAQs
What incentives are available for residential Solar Systems?
In New York State, solar energy systems are subsidized by rebates from PSEG Long Island and NYSERDA (throughout New York State, excluding Long Island). In addition, solar energy systems are eligible for a Federal tax credit equal to 30% of the system cost with no cap and a New York State tax credit equal to 25% capped at $5,000. Everything accounted for, the average residential Solar System enjoys subsidies equal to approximately 60% of the total system cost.
What is the typical payback period for a Solar System?
For purchased Solar Systems, the typical payback is between 4 and 6 years, depending on a variety of factors. For leased systems, the payback ranges from immediate to 12 months.
What are the benefits of leasing a Solar System?
A few of the benefits of leasing include: protection from unpredictable future rate hikes; maintenance provided by the leasing company; and usually a lower initial cost for the homeowner.
When do I get my rebate back from PSEG Long Island or NYSERDA?
When you purchase a Solar System through Harvest Power, we receive the rebate directly from PSEG Long Island or NYSERDA, lowering your upfront cost. We receive the rebate only after your system is installed.
How much money do I need to lay out to get a Solar System?
In a straight out purchase on an average Solar System, the initial cash layout is about $18,000 dollars. Net cost after tax incentives is typically about $9,000.
To lease a Solar System, you may pay a low "upfront fee," typically $0 to $2,500. You may choose a larger upfront fee to reduce your monthly payment, or you may choose to pre-pay to get the most cost savings.
If the purchase or leasing options are not suitable for you, Harvest Power has numerous ways to finance your system so you can install solar without all of the upfront cost.
What is net metering?
Net metering is a process in which you produce power through your Solar System as well as consume power from the grid. You are then billed or credited based on the NET of the energy produced /consumed. In most cases solar panels will spin your meter backwards in open sun and it will spin forward as you begin to consume more energy than you are producing or at night when the system shuts down.
What is the typical life span of a Solar System?
A solar photovoltaic system can provide clean and reliable power for 30 years or more.
What warranty will I have with my Solar System?
Solar panels typically carry a 25 year warranty for power output. Inverter equipment carries warranties ranging from 10 to 25 years.
How long will solar rebates last?
No one knows the answer to that question. As solar has become more affordable and demand continues to grow, rebates will continue to reduce. Rebates typically are reduced at or following yearend as demand is highest at that time of year and policy changes come into effect. The best way to ensure your rebate is to apply now.
What roof surfaces are suitable for solar panels?
South facing roofs are optimal for solar exposure. There are many east and west facing surfaces that are suitable for solar panel installations. Most homes do not face due south leaving opportunities to install on multiple east, west, southeast, southwest surfaces.
How does shade affect solar production?
Shade has the largest impact on solar production. Each home has a unique situation. To understand fully the effects of shading on the output of a solar system, we use sophisticated diagnostic tools to perform a shade analysis during the design phase of every solar system project.
I've heard I'll save $2,000 a year on my electric bill. How accurately can savings be predicted?
Although many factors affect solar output, a qualified company can provide a very accurate analysis of solar output and provide a reasonably accurate projection of your annual savings and payback period.
Call (631) 647-3402 or (516) 442-5511 to schedule a free solar evaluation or contact us online to learn how Harvest Power can help you reduce your electric bills.