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New York ny residents who switch to solar are eligible for these local, state and federal tax programs.
|Program Name||Program Type||Amount|
|Residential Renewable Energy Tax Credit||Tax Credit||30% before 2020 26% during 2020 22% during 2021|
|Residential Energy Conservation Subsidy Exclusion (Personal)||Tax Exemption||Full rebate amount excluded from taxable income|
|Local Option - Solar, Wind & Biomass Energy Systems Exemption||Property Tax Exemption||100% of appraisal value for 15 years|
|Residential Solar Tax Credit||State Tax Credit||25% percent of the cost of equipment and installation, up to $5000|
|Local Option - Solar Sales Tax Exemption||Sales Tax Exemption||Varies with city|
|NY-Sun PV Incentive Program (Residential, Low-Income, and Small Business)||other||Varies with uptake: Long Island Region: $0.00/W Con Edison Region: $0.40/W Up State Region: $0.35/W Low-to-Moderate income customers: Double the standard incentive amount (up to 6 kW)|
|New York City - Property Tax Abatement for Photovoltaic (PV) Equipment Expenditures||Property Tax Exemption||100% of system appraised value for first year, diminishes after|
The main cost of a solar system is the panels, which will vary depending on your power and roof needs. Newer ones are expected to last 25 years in good conditions. Inverters tend to cost around $500 and usually need to be replaced in 5-10 years, but this will depend on the inverter type. Other costs include frames to hold the panels, wiring, etc, and are relatively small.
|Hanwha Q CELLS||1818||Q.PRO-G4/SC 260|
|Enphase Energy||3718||M250-60-2LL-S2x (-ZC) (-NA) (240V)|
|SolarEdge Technologies||2148||SE6000 (240V)|
|SolarEdge Technologies||2117||SE5000 (240V)|