April 30, 2019
We all know that New York is one of the most popular solar locations in the United States, and with good reason, but does this hold true when we get more specific? In short, yes! Today we’re going to take a look at Long Island in particular. Long Island has been one of YSG Solar’s most popular solar install locations down through the years and there are plenty of reasons why Long Island customers are well positioned to take advantage of solar energy. So, without further ado, let’s take a look at some of the reasons why Long Island is a superb area for solar installations.
#1. Incentives & Rebates
Across New York, and indeed across the United States, the financial incentives and tax rebates on offer for going solar are a big part of the appeal. In this regard, Long Island is no different. Long Island residents can avail of all the same fantastic incentives and rebates available to those across the state of New York. There are a number of incentives available, but probably the most appealing of them all is the federal investment tax credit (ITC). The ITC allows solar consumers to reduce their federal tax liability by up to 30% of the system value, as long as the solar system has been purchased outright. Unfortunately, 2019 is the last year where the full rate of 30% will apply before the ITC begins to step down its rate and eventually disappears. With this in mind, 2019 is the best time for Long Island residents to go solar, for the foreseeable future at least. There is also a state tax credit, as well as exemptions when it comes to property and sales taxes.
#2. Utilities
New York has some of the highest utility rates in the United States and Long Island is no exception to this. Higher electricity rates on the east coast, particularly in the northeast, ensure that utility bills really add up for energy consumers in Long Island. However, in turn, this also means that the potential solar savings for those in Long Island are proportionately higher as well. If you’re paying higher than the national average for your utilities then you stand to save more from offsetting these costs with a solar panel installation. Solar panel arrays can go a long way to reducing your electric bill and, in some cases, even eliminating it entirely. If you start out with a high bill, then reduce via solar, you will enjoy even more intense savings than those in other locations.
#3. Property Value
Solar panel installations have been shown to increase property value and even improve the saleability of properties once they do go on the market. The real estate market in New York and, by association, Long Island can be fiercely competitive so any kind of edge can make a real difference. Thankfully, a solar panel installation is a proven way of giving yourself a distinct advantage. It makes sense that prospective buyers want to reduce their future expenses and a home with solar pre-installed allows buyers an immediate reduction in their expenditure, during what is often a financially stressful time. Solar panels are a great long-term investment, easily transferable to new owners.
#4. The Environment
Climate change has always been a topic of conversation, but in recent years it feels as if the conversation has become more urgent. Renewable energy sources will play a huge role in how we confront climate change moving forward and, of course, solar power falls under the umbrella of renewable, sustainable energy sources. For the socially conscious population of Long Island, solar panel installations are a tangible way to make an environmental difference. A solar panel installation signals positive intent and once neighbors and friends see the financial benefit of solar, they could be tempted too. Solar begets solar, sparking a chain of good environmental practices.
If you’re a Long Island resident interested in going solar, contact YSG today or call us at 212.389.9215.
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By Shane Croghan
Sources:
https://www.empower-solar.com/top-ten-reasons-for-long-islanders-to-go-solar
https://gogreenleafsolar.com/residential/benefits-solar/
https://energybychoice.com/blog/solar-panels-worth-cost-long-island/