Solar Energy Financing Options in New York
Real Goods Solar offers you several solar energy financing options in New York. We’ll work with your budget, your site conditions and all available New York solar energy rebates and incentives to provide you with flexible financing options for acquiring solar energy at your home.
New York’s Best Solar PPA
If you’d like to use solar power at home without making a big investment in the equipment that generates it, a power purchase agreement, or PPA, could be for you. Our PowerSavings Plan™ is New York’s best solar PPA and it lets you use clean, renewable solar power at home for less money than you currently pay for dirty utility power. PowerSavings Plan customers pay a low, fixed rate for their solar power every month for 20 years and in doing so, protect themselves from ever-increasing utility rates. And since we own the systems, we’re responsible for all maintenance and repairs.
Why Use the PowerSavings Plan?
PowerSavings Plan customers won’t see cash rebates since they do not own the system they get electricity from. Instead, we’ll use those rebates to lower your payment, so you’ll still benefit from them.
Owning or Leasing a Solar PV System in New York
So why purchase and own a system? The average system pays for itself in 5-8 years. Your solar panels, however, will last much, much longer – easily 25 years or more – which means you’ll likely enjoy decades of free electricity from them. Solar panels add to your home equity, but laws in New York prevent them from increasing your property taxes. If you are a customer of one of New York’s large investor-owned utilities, the NYSERDA PV Incentive Program can erase up to 40% of a system’s cost, and that’s in addition to the 25% state solar tax credit and the 30% tax credit from the federal government. Owning or leasing solar panels in New York might be easier than you thought.