Are solar panels worth it?

Yes, solar panels are worth it in Upstate New York!
Despite its colder climate, Upstate New York receives plenty of sunlight throughout the year, making it a viable location for solar energy production. Additionally, with various incentives, tax credits, and decreasing installation costs, investing in solar panels can lead to significant long-term savings on energy bills while reducing your carbon footprint.
NEW YORK STATE SOLAR INCENTIVES:

• Federal Solar Tax Credit (ITC):
  • Also known as the Investment Tax Credit.
  • Allows homeowners to get a tax credit for 30% of the cost of their fully installed solar panel system.
  • Expenses include materials and labor.
  • For example, if solar panels cost $10,000 to purchase and install, the credit will lower your tax bill by $3,000.
  • Recently increased to 30% from 26% and approved through 2033.
  • Eligibility requires homeowners to own their solar panel system.
  • No cap on the amount that can be claimed.
• Solar Energy System Equipment Credit (New York State):
  • Offers a 25% tax credit for fully installed solar panel systems in New York State.
  • Can be combined with the Federal Solar Tax Credit for greater savings.
  • Limited to $5,000.
  • The solar energy system must use solar radiation for heating, cooling, hot water, or residential electricity.
  • Must be installed and used at your principal residence in New York State.

Solar Panels Poughkeepsie NY

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