With the help of government grants and tax incentives it has never been easier to afford and pay off a solar panel installation for your home.
Over the past 10 years residential solar panel use has seen exponential growth. And though appropriation costs have dropped over 70% since then, new solar panel installation companies have emerged and flooded the market.
When looking for the cheapest solar panel installation that’s right for your home there are a few options that can alleviate the process.
Residential Tax Incentives
New York State offers several tax incentives to encourage solar energy (mostly excluding standalone systems). In many cases they will cover the majority, if not all of the costs of your solar panels.
Incentives for residential installations include:
Solar Financing & Leasing for Residences
If you are interested in maximizing the financial returns of your solar energy system then buying the system is probably a better decision for you.
Additionally, it will increase your property value. However, if your priority is an easy, maintenance-free way to reduce your energy bills and relieve your carbon footprint, you should consider a solar lease.
For residential customers loans are available from $13,000 to $25,000 with high cost-effectiveness standards and repayment periods of 5, 10, or 15 years.
Providing us with some information below will help you get started in finding out the best way to finance your solar panel system:
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