Governor Hochul announced in her 2022 State of the State her plans to make New York state a national leader in climate action. This plan includes the framework to power an additional 700,000 New York homes with solar by 2030.
Removal of the unopened Block #11 ($0.30/Watt) and any capacity remaining in Block #10 ($0.40/Watt).
The opening of the new Block #11 of 40,000kW at $0.30/Watt.
Once one block of the grant is fully used, the incentive drops a grade and rewards less money per watt.
How Does This Affect You?
To accomplish the Governor’s goal the New York State Energy Research and Development Authority (NYSERDA) has created a new block grant (as seen in Block 11) to incentives potential homeowners to go solar. Once depleted this block will reward customers with a lower tier rebate, meaning it’s first come first served.
What Does This Do For You?
According to NYSERDA Data this means a typical customer that goes solar in 2022 can save an additional $1,425 on average (on top of their solar savings!). The block grant structure bases its savings calculations on cents per watt generated by the installed solar system.
What Else You Should Know
Between the Federal and State Tax credits approximately 50% of the total cost of a solar system is covered.
Tax Credits can be carried over for up to 5 years.
Solar Batteries are eligible for the federal incentive when installed with a solar system.