Solar Panels for the Tree-dense Rivertowns

It’s rare for a home to have a perfectly unshaded, south-facing roof in the Rivertowns. Shade from the area's many beautiful trees and foliage passes over most roofs at one time or another to different degrees. That’s why—unlike many other solar contractors—we use micro inverters on all of our residential installations. Not only are micro inverters warrantied for the same 25 year length as the panels, they also turn each panel into a standalone DC to AC conversion point. This means that if one panel gets shaded or stops working, the output for the entire system is not lowered, because the panels are wired to a single string inverter, as is the case for many systems installed by national solar companies looking to cut costs.

Further, we make sure to give you as accurate an estimate as possible using panel production modelling software, taking into account potential shading from nearby trees, buildings or other structures, considering how they will affect your output, ROI, and ultimately, whether or not solar remains a good financial investment.

Return on Investment

The average return on investment for a solar system in New York is 7 years. So after 7 years, on average, you will begin to see positive net returns based on the total system cost. Given that average system life is around 30 years, that’s 23 years of positive returns.

Every kilowatt of power you generate from your solar panels is one less kilowatt you will have to pay your utility company for. You may be able to offset your usage entirely, depending on available roof space, shade, roof orientation, and average electricity consumption. But if eliminating your bill is not possible, you may still be able to lower your bill significantly.

For example, if your current average electricity bill is $200 and you install a system that offsets 80% of your annual usage, your post-installation bill will be $40 dollars, resulting in an annual savings of $2,000.

Raise the value of your home

According to an April 2019 study by Zillow.com, New York Metro area homes with solar systems have a 5.4% higher resale value than comparable homes without solar. That’s roughly an additional $37,800 for the median valued home in Westchester County.

Solar is the only value-adding home addition that does not increase the tax liability on your property.

Protect against rising electricity bills

According to the Energy Information Administration, residential electricity rates have increased nationally by around 15% in the last 10 years. Meanwhile the ten-year inflation rate is about 2.28%, according to the United States Federal Reserve. In the Con Ed region, the delivery rates have increased by nearly 80% in the past ten years, from 8 cents a kilowatt hour to 14 cents.
By going solar, you pay less of or completely offset the rising cost of electricity.

Residential Incentives

NY Sun (Con Edison) – Residential (Block 9)

Since 2014, NYSERDA has directly subsidized solar installations through direct payments to solar installers, which are passed on to customers via upfront discounts. The current subsidy level is $.20/wDC. This means that for every DC watt of installed solar NYSERDA will pay you $0.20. Solar systems are denominated in kW DC; $.20 per watt translates into $200 per kW. A 10kW system would therefore receive a $200 subsidy. Note that NYSERDA funding blocks are finite and have historically stepped down. Rivertown Solar will file for this incentive on your behalf (this may be considered taxable income).

NYS Solar System Energy Equipment Credit

This is a dollar-for-dollar reduction on the amount of NYS income taxes you would otherwise owe. Currently, it is equal to 25% of the cost of the solar system and capped at $5,000. So if your solar system costs $25,000, you claim that expense on your taxes, which results in $5,000 of tax savings. You can find the form you need to fill out to receive this credit here.*

Federal Residential Energy Credit

This is a dollar-for-dollar reduction on the amount of Federal income taxes you would otherwise owe. Currently, this is equal to 30% of project costs if you pay taxes on your utility incentive. So if your solar system costs $30,000, you claim that expense on your taxes, which results in $10,000 of tax savings. Note that if your NY-Sun incentive is treated as taxable, you’re cost basis for this credit is the full amount; otherwise, you must deduct the NY-Sun credit from your cost basis, example: ($30,000 - $2,000) .3 = $8,400. You can find the form you need to fill out to receive this credit here.

Federal Low-Income Bonus Credit

This is a bonus federal tax credit equal to 10 percent of project costs available to individuals living in low-income areas as defined by the New Markets Tax Credit. Check your neighborhoods eligibility here.

Federal Domestic Content Bonus Credit

This is a bonus federal tax credit equal to 10 percent of project costs; it will become available once solar module manufacturers move a significant portion of their operations to the United States (currently in progress). At that point, we may be able to build your solar system using the required proportion of domestically produced components, thereby making your project eligible for this credit.

Environmental Benefits

Solar’s lifetime emissions per kwh are orders of magnitude lower than that of fossil fuels, though they’re not zero, since fossil-fueled mining and manufacturing are part of the current solar supply chain. It’s so well known as to become hackneyed that fossil fuel driven energy production leads to pollution and climate change.

Unlike utility scale solar farms, distributed (rooftop) solar does not require the clearing of vast tracts of wilderness. Rooftop solar also makes for a more resilient grid, as thousands of tiny power plants are constantly supplying electricity, instead of one large one.

Get In Touch!

Have questions? Use this form to send us a message, and we'll reply within 24 hours.