Community Solar vs. Owning Your Solar: Get The Facts
Community Solar (CS) is a big initiative in New York State but it is very different from owning your own solar. It is the best option for apartments, condominiums, and homes with immense shading on the roof or not enough property for a ground mount array to produce their own clean energy. CS has distinct disadvantages that make it a less advantageous financial investment than owning your own solar panels.
Let’s review some of the Pros and Cons of CS Vs. Rooftop/Ground Mount Solar below!
- Available for renters
- No payback
- Subscription based model saving typically 10% or less on your electric bill
- Instant sign up possible
- Unable to reap lucrative solar tax credits
- You do not own the system, it does not increase your property value
- Ineligible for NYSERDA Cash Rebate Incentive
- May be required to purchase into the Community Solar Project
- Eligible for 30% Federal Tax Credits & 25% State Tax Credits
- Eligible for NYSERDA Cash Incentive & Financing
- Ownership of the panels increases value of the home
- Better return on investment than traditional investments
- Must be a homeowner or property owner
Interested in taking advantage of the clean energy benefits of solar energy but are not sure which route is best for you? We have a team of industry experts that are ready to help you!