When it comes to state incentives for renewables, New York has always been great at offering a wide range of incentives, programs, and tax credits for homeowners and businesses. This year is no different. With the creation of the NY-Sun and Solar for All assistance programs as well as a long list of great solar incentives for homeowners, 2021 is looking to be a great year for solar sales in New York State.
This article will outline all the best solar incentives and programs available for commercial and residential solar this year to help you leverage the sale and close the deal in 2021.
1) The NY-Sun Program
This solar program was created as a part of Governor Andrew Cuomo’s “Reforming the Energy Vision (REV) to help make solar power affordable and accessible to all New Yorkers. Bundled in this program are solar incentives, tax credits, education, training, and loans to help low-income families achieve their goal of owning a solar system.
In order to offer these New York Solar incentive options to homeowners, solar contractors need to apply through NYSERDA. We highly recommend doing so if you haven’t already applied as you will unlock the ability to offer more incentives to your clients through this project and won’t lose sales to other contractors who are already using them to outbid you.
2) NY Green Bank
While NY-Sun works with homeowners and contractors to help increase the adoption of solar energy systems in the state, NY Green Bank works with the private sector to increase investments in New York’s solar/clean energy sector. So far, the NY Green Bank has invested over $1.2 billion in clean energy projects throughout the state.
3) Net Metering
Including the Consolidated Edison, National Grid, and PSE&G programs, net metering is an important part of incentivizing homeowners to make the switch to solar power as it makes sure that the owner of the system is paid a fair price for the energy they send to the grid. This energy in kWh is accrued in the form of credits that the homeowner can use towards their next electricity bill and is one of the best ways for solar companies to convince a homeowner to go solar.
4) New York State Solar Equipment Tax Credit
This tax credit offers homeowners the option to claim a credit equal to 25% of their qualified solar energy system equipment expenditures. Limited to $5,000, this credit is a great selling point for installers working in New York as it could help the client save even more money on their system than they would otherwise.
It is valid for systems purchased outright or through a lease or PPA agreement and is available as long as the system in question uses solar radiation to generate power for heating, cooling, or hot water.
5) The Megawatt Block Incentive Structure
Available under the NY-Sun initiative for both residential and commercial solar installs, this incentive offers strong discounts off solar systems in a dollar-per-watt format with a rate based on the location (“block”) of your customer. Each “block” has a set amount of money available to claim with the rate decreasing as the money available is claimed.
Using this incentive as a means to get a property owner to close on your sales proposal quickly so that they have a better chance of getting a good rate for this incentive is a great selling point for installers.
When it comes to selling solar, one of the hardest hurdles to jump over is in convincing the customer that the large up-front price tag on a system is worth the purchase. By taking advantage of these incentives and programs, installers in New York State have a large arsenal of tools to help the homeowner see what they can get out of this investment and save money overall.
Using a solar proposal software like Solargraf will also help illustrate these savings to your clients beautifully laid out in a fully customizable solar quote with Good, Better, Best options. Apply any incentives you choose to the price in seconds, show different designs and financing options as well as what their payments will look like under purchase, loan, or PPA options, and let them select and e-sign on what works best for them all through their email.
To learn more about how Solargraf’s solar proposal software and its robust list of features including AutoPitch detection, Shading Analysis, project & team management, and permit and stamp orders at great prices, book a demo today and let us help you every step of the way, from lead to close and beyond.