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Solar energy systems are eligible for a Federal tax credit equal to 26% of the system cost with no cap and a New York State tax credit equal to 25% capped at $5,000. With everything accounted for, the average residential Solar System enjoys subsidies equal to approximately 60% of the total system cost.
For purchased Solar Systems, the typical payback is between 4 and 6 years, depending on a variety of factors such as system size and down payment. For leased systems the payback ranges from immediate to 12 months.
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 backward in the open sun and spin forward as you begin to consume more energy than you are producing or at night when the system shuts down.
A solar photovoltaic system can provide clean and reliable power for 30 years or more.
Solar panels typically carry a 25-year warranty for power output. Inverter equipment carries warranties ranging from 10 to 25 years.
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 year’s end as demand is highest at that time of year and policy changes come into effect. The best way to ensure that you receive a rebate is to apply now.
South facing roofs are optimal for solar exposure, however 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, and southwest surfaces.
Shade creates the largest negative impact on solar production. Each home has a unique situation. To fully understand 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.
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 to schedule a free solar evaluation or contact us online to learn how Harvest Power can help you reduce your electric bills.