Governor Hochul announced in her 2022 State of the State of 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.
NYSERDA allocates a rebate to different regions of New York State as an added financial incentive for homeowners who switch to solar energy. These rebates are available on a first-come, first-served basis. Currently, the rebate is $0.20/watt for a total of 101,600kW of energy installed across upstate New York. And with the next incentive block announced, now is the best time to maximize your savings when going solar.
Once one block of the grant is fully used, the incentive drops a grade a rewards less money per watt.
Acting as soon as possible is the best way to maximize your solar savings!
For example, going back to the incentive block chart, block #1 awarded $1.00/watt incentive back in 2014 – 5x the current incentive levels!
With the 13th block just announced at $0.15/watt, a decrease of $0.05/watt compared to current incentives, this decrease in incentives continues.
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 12) to incentivize potential homeowners to go solar. Once depleted this block will reward customers with a lower-tier rebate, meaning it’s first-come, first-served.
According to NYSERDA Data, this means a typical customer that goes solar 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.
At Kasselman Solar, we understand the importance of making solar energy accessible and affordable. That’s why we have partnered with reliable financing institutions to help you invest in a cleaner energy future.
By taking advantage of these financing options, you can invest in solar energy for your home or business, knowing you have the support of trusted, financial partners!
Are you interested in going solar, or want to learn more about the various incentives and financing options? Get in touch with our team today!
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