There is a simple process for New York State residents looking to purchase solar panels. As sustainability continues to grow as a priority across the state, more New Yorker’s are considering purchasing solar panel equipment. With unique solar financing, incentives, and rebate options available, solar panel installation is more affordable than ever before. Every residential or commercial renewable energy plan is different. There is no one size fits all solar guide to planning your system. In order to effectively make your solar purchase, you need to analyze your property needs, plan your financing, and install your solar setup. Read on to learn how to buy solar panels in New York State.
Determine Necessary Equipment
The first step in buying solar panels in New York State is to determine the best equipment for your renewable energy system. There are three major types of solar panels available throughout NYS. Each solar panel type is available at a varying cost depending on their efficiency and lifespan. Monocrystalline panels are some of the most efficient panels offered. These panels are able to store the most energy and have the longest guaranteed lifespan. In exchange for their high performance standards, these are some of the most expensive panel options available. Panels like polycrystalline or thin-film equipment are not as efficient, and do not have as long of a lifespan. However, these panels are not nearly as expensive as monocrystalline options. An experienced solar panel supplier can advise you on the best equipment for your system.
Consider Wholesale Options
Consider wholesale options as you look to buy solar panels throughout NY state. Depending on the scope of your project, wholesale options can save you a significant amount of money over the course of your project. If you are planning a larger renewable energy project, consider speaking with New York solar panel dealers about prices on wholesale quantities. If you are planning a large-scale residential, commercial, municipal, or utility project, you can greatly benefit from purchasing wholesale solar panels. Before you source solar install services or install your renewable energy setup, ensure you consider wholesale options.
Consider Financing Options
Prior to purchasing your solar system, you need to consider your solar financing options. There are two common financing options: solar leasing and solar panel loans. With a solar lease, agreements typically last twenty years. Depending on the installer, you may not be required to put any money down to obtain a solar lease. Instead, you would required to make monthly payments in order to access the energy your system generates. With a solar loan, you can obtain agreements in five to twenty year periods. A solar loan grants you full ownership of your panels and renewable energy system. With this, you can make monthly payments to repay installation costs, while simultaneously receiving discounted energy rates. Before installing your solar system, ensure you consider your solar financing options.
Apply For Solar Incentives
After you have a well-developed understanding of your solar system cost, you need to begin researching and applying for solar incentives. Solar incentives are a major reason for the rise in popularity of solar systems. They reward NYS residents for their installation while simultaneously offsetting the cost of your solar system. One of the most popular solar incentives is the Federal Investment Tax Credit (ITC). As of 2020, the ITC reimburses you for 26% of the cost of your solar system. At the same time, installing a system in NYS allows you to qualify for the New York State Tax Credit. This credit provides you with 25% of the solar purchase and installation cost, with a maximum of $5,000. Furthermore, installing your system in New York, you are additionally exempt from state sales taxes. Consider the various solar incentives available and how they will offset the price when you buy solar panels in New York.
Purchase Solar Hardware
Once your solar systems are selected and your sources of financing are secured, you need to purchase your solar hardware. Panels are only one piece of your entire renewable energy system. You also need reliable mounting components to position, and hold your solar panels in place. You also need a solar battery in order to store absorbed sunlight, as well as a solar power inverter. Solar inverters covert the DC (direct current) energy from sunlight, into AC (alternating current) energy that is usable by households. As you purchase solar panels in New York State, ensure you additionally obtain the necessary components to operate your system.
There is a simple to follow process for NYS residents looking to purchase and install solar panels. The first step in purchasing solar panels is to determine the best types of equipment for your renewable energy project. Be sure to consider wholesale options depending on the scope of your project. Once your system is selected, you need to consider how to buy panels. Look for solar financing options to help you make your purchase, along with solar incentives to offset your total installation expenses. Finally, you need to purchase the necessary equipment to make your solar system as efficient as possible. Consider the points above to learn how to buy solar panels in New York State.