5 Determining Factors Of Your Solar Estimate New York

Determining Factors Of Your Solar Estimate New York

There are several determining factors that calculate your solar estimate in New York. With more and more New Yorker’s switching to renewable sources of energy, there is a growing demand for comprehensive solar estimates. NY solar estimates thoroughly evaluate how suitable your property is for solar, how many panels you need to cover your electric bill, what incentives you qualify for, and how long your approximate payback period will be. Read on to learn about the essential determining factors of your solar estimate New York.

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Solar System Size

Likely, the largest cost determinant for your NY solar estimate is the size of your renewable energy system. The size of your solar system ultimately determines how efficient your set-up will be, how much your hardware will cost, and how long your payback period will last. Traditionally, solar system sizes are determined by the amount of kilowatt hours they produce. In the New York area, many solar systems range from 4kWh to 20kWh depending on your rooftop size and financial capacity. When you sign up for a solar estimate in New York, the size, power, and efficiency of your system will ultimately determine the rate you are quoted.

Efficiency Of Solar Panels

The efficiency of the renewable energy panels you select is a major determining factor of your New York solar estimate. When it comes to purchasing solar hardware, there are three major types of solar panels to choose from. Likely the most efficient type of solar equipment are monocrystalline panels. However, in exchange for their high-efficiency, monocrystalline panels are also some of the most expensive. If you are looking for a more affordable solar option, you can additionally consider polycrystalline or thin-film solar panels. In selecting these panels however, be aware that they do have lower performance standards compared to monocrystalline hardware. Before you buy solar panels in New York State, you need to consider the varying degrees of efficiency. Prior to installing your system, be aware that the efficiency of solar panels you select has a major impact on your quoted New York solar estimate.

Solar Financing Incentives Obtained

Solar financing incentives are a major determinant of the cost of your renewable energy system, as well as the value of your quoted NY solar estimate. New York is one of the most progressive states in terms of renewable energy. Installing your solar powered system in NY, there are dozens of renewable energy tax credits, incentives, rebates, and initiative programs to help you offset your expenses. One of the most popular programs is the New York State Solar Equipment Tax Credit. As of 2020, the NYS equipment program offers a tax credit up to 25% or $5,000 of your solar hardware costs and credits. At the same time, you can take advantage of rewards issued by the Megawatt Block incentive program. The Megawatt Block incentive is a performance-based incentive that provides you a cash valued reward for the volumes of solar energy you produce. The most solar programs you are able to qualify for, the more affordable your system installation and NY solar estimate will likely be.

Renewable Energy Payment Agreement

During your solar power estimate in New York, one of the largest determining factors is your payment agreement. Many NY property owners choose to buy their solar equipment outright. Outright purchases provide you the most flexibility and control over your solar system. However, if you want to lower your required renewable energy investment, consider working with NY solar leasing companies. Leasing agreements allow you to access the same sustainable benefits of solar ownership, only with lower expenses and liability. Under a solar lease agreement, you rent your equipment in exchange for affordable payments over the course of ownership. Before signing up for your solar estimate, be sure to consider the variations based on the payment agreement you select.

Installation Method Selected

The installation method that you select is a major determinant of your solar estimate cost in New York. One of the most cost-effective and efficient ways to install your system is through the help of experience solar energy companies. These installation professionals possess the necessary knowledge to recommend equipment, suggest placement, and help configure your solar system. At the same time, experienced solar installers can help you learn more about your renewable energy system and answer any questions you might have throughout the process. When you sign up for a solar energy estimate in New York, s major determining factor concerns the installation method you select.

There are several major factors that determine the value of your New York solar estimate. Simultaneously, utilizing resources like the New York solar savings calculator can help you estimate your potential savings. First, your estimate value is largely impacted by the size of your solar system in kWh. Your estimate is additionally largely dependent on the type of solar panels you select. At the same time, you need to consider what solar incentives, tax credits, rebates, and initiatives that you qualify for. Moreover, your estimate value is dependent on the purchasing agreement that you choose. Furthermore, the installation method you select largely influences your quoted NY solar estimate. Consider the points mentioned above to learn about the essential determining factors of your solar estimate New York.