New York Solar Incentives 2020

New Yorkers can save a drastically both short and long-term with solar panels. To collect even more in your pocket, federal and state governments offer a variety of incentive programs for solar homeowners to choose from. Solar tax credits are a federal incentive that give homeowners a 26% credit that can be applied to their annual taxes. Furthermore, New York homeowners can utilize NYSERDA Solar Installation Incentives.

Keep reading to learn more about the solar incentives available in your area.

Federal Tax Credits

With the Federal Tax Credit, solar energy owners can deduct 26% of the cost of installing their panels from their federal taxes. This incentive is the most common and easiest way that residents who own their solar panel systems can earn money back.

The Federal Tax Credit applies to both residential and commercial systems. This credit can be applied to personal income taxes that would otherwise be payed to the federal government.

You qualify for these credits if you own your solar energy system, you installed in 2020 and it actively generates electricity. When you’re ready to claim your credit, you’ll file IRS Form 5695 when doing your tax returns. You will be instructed to calculate your credit on the form.

This deal will not last forever, as 2020 is the last year to take advantage of the incentive’s current value. Residential and commercial solar energy system owners can deduct 26% of the cost of installation for systems that have begun construction through 2020. The tax credit then decreases in slow increments annually until 2021, where it is projected to stay at 10%. You’ll get the best deal if you switch to solar energy today!

NYSERDA Solar Installation Incentives

The New York State Energy Research and Development Authority was founded to provide opportunities that make solar energy accessible to as many New Yorkers as possible.

The NY Sun Solar PV offers incentives to owners of both residential and commercial solar energy systems. Some of the resources that homeowners can take advantage of include financing, education and other local government resources. NY-Sun is a major component of the Reforming the Energy Vision (REV) program. This program aims to make clean energy affordable for all New Yorkers.

New York also offers their own tax incentives for residential systems. These incentives include:

  • -Income tax credit for 25% of the cost of the system ($5,000 maximum) for grid connected and net metered solar energy system.
  • -Subject to local option, a 15-year property tax exemption for the cost of solar and other solar panel systems constructed in New York. This incentive is to ensure that property taxes do not rise because owners install solar energy equipment.

New Yorkers should aim to begin their solar projects in 2020 to take advantage of all of these current incentives.

Momentum Solar Quick Facts – Part 2

Are you interested in switching to solar energy, but aren’t sure which company to choose from? Here are some lesser-known facts about Momentum Solar that our customers love!

We were built from the ground up.

Momentum Solar is one of the fastest-growing solar companies in the nation employing over 2000 people nationwide. Founded in 2009 in a New Jersey warehouse, we quickly expanded due to our unmatched panel quality and customer service. We’re an owner-operated industry leader that is dedicated to the customer experience as we provide affordable energy options to qualified homeowners.

We’re located in 7 states.

Today we offer solar energy systems to homeowners in New Jersey, New York, Pennsylvania, Connecticut, Florida, Texas and California. Our headquarters are located in South Plainfield, New Jersey.

We take care of everything.

Once you decide to pursue your solar project with Momentum, you can sit back and relax while we take care of everything! We handle the entire process from solar enrollment through customized design, engineering, permitting, installation and activation of every system to ensure a seamless transition to renewable energy.

We customize each solar panel system.

We strive to achieve a 100% solar offset for our customers, which not only maximizes monetary savings but increases the generation of clean energy that reduces harmful carbon emissions. With customized system designs tailored to each home using only the best in class materials, we make home solar beautiful while bettering the environment.

We look out for our communities.

We are here for you in good times and bad. We are committed to ensuring that our customers are as safe as possible and that our employees are using all of the best practices during these challenging times brought on by the COVID-19 Virus. You can’t control many things in this world, but we can still help you take control of your energy supply and bills, which provides certainty and safety for you and your family during this uncertain time.

Momentum Solar is now implementing remote site assessments via email. Customers can send photos of their attic rafter, electrical panel and roof so that our solar specialists can still provide your free, no-obligation quote. We are also conducting digital sales meeting in order to keep as many employees home as we can.

We offer flexible financing options.

Homeowners switching to solar often implement a solar financing plan to help offset the initial cost of installation and add to their overall savings. Most reputable companies offer a few options to choose from where each plan has their own benefits. Momentum Solar offers its customers Power Purchase Agreements (PPAs), solar leases and solar loans. Homeowners are advised to choose their plan based on their income taxes, credit score, location and how long they plan on using solar energy.

Do you still have questions about Momentum Solar? Visit our website momentumsolar.com or give us a call today.

 

 

 

What is Climate Change?

People around the globe have been discussing climate change for years, and the topic is more popular now than ever. But what exactly is climate change? Is it as big as a threat as some reputable sources are telling us, and is there anything we can do to help stop it?

Read on to learn what climate change is, how it affects our environment and what changes we can make in our lives to keep our Earth healthy.

What is Climate Change?

Climate change describes the long-term change in Earth’s average weather patterns locally, regionally and globally. You may be thinking, “So what? We have different weather every day” but weather is different than climate. If one day has hotter weather than the day before it, this is no cause for alarm. However, Earth has been seeing long-term changes in average temperatures. Over time, this can cause significant changes to our environments and harm entire ecosystems.

Scientists have been saying for years these changes are not natural. “Changes observed in Earth’s climate since the early 20th century are primarily driven by human activities, particularly fossil fuel burning, which increases heat-trapping greenhouse gas levels in Earth’s atmosphere, raising Earth’s average surface temperature. These human-produced temperature increases are commonly referred to as global warming” [1].

Some evidence of climate change that we have already began seeing include global temperature increases, warming oceans, shrinking ice sheets, glacial retreat, decreased snow cover, sea level rise, extreme weather events (hurricanes, etc.) and ocean acidification.

What Can We Do to Stop Climate Change?

Humans are largely responsible for climate change, but there’s plenty we can do to help reduce the effects in the future.

“On Earth, human activities are changing the natural greenhouse. Over the last century the burning of fossil fuels like coal and oil has increased the concentration of atmospheric carbon dioxide (CO2). This happens because the coal or oil burning process combines carbon with oxygen in the air to make CO2” [2].

One answer to this issue comes from the renewable energy industry. Renewable energy comes from replenishable sources such as sunlight, rain, wind, plants, tides, algae and geothermal heat. Since this energy is coming from nature, these sources are readily available everywhere – including remote and rural areas that may not have access to traditional electricity from conventional power. Green energy can replace fossil fuel in all major areas of power, such as electricity, water, space heating and fuel for motor vehicles.

Millions of homeowners have already made that step towards a cleaner tomorrow by switching to solar energy. It’s so popular because solar is one of the easiest ways to go green while saving on your utility bill – you get the best of both worlds! Solar energy is renewable, clean, sustainable and reduces pollution otherwise caused by fossil fuels. Once you go solar, your carbon footprint will be significantly reduced in a short amount of time.

Momentum Solar is proud to offer homeowners cleaner, price-protected power. Visit our website momentumsolar.com for your free quote.

[1] https://climate.nasa.gov/resources/global-warming-vs-climate-change/

[2] https://climate.nasa.gov/causes/

Is Solar Here to Stay?

The renewable energy industry continues to grow globally as we search for smarter, cleaner and more efficient ways to power the world. As technology continues to improve and the price for installation keeps decreasing, millions of Americans have already switched to solar energy. This source of electricity isn’t just a fad – the future of solar energy is bright.

The US Solar Industry

As of 2019, the United States has approximately 250,000 solar workers across the country [1]. More than 2 million homes have installed residential panel systems, a 100% increase since 2016 [2].

“The rapid growth in the solar industry has completely reshaped the energy conversation in this country,” said Abigail Ross Hopper, SEIA chief executive officer and president [2]. “This $17 billion industry is on track to double again in five years, and we believe that the 2020s will be the decade that solar becomes the dominant new form of energy generation.”

Today, the 2 million residential solar power systems produce enough electricity each year to power more than 12 million homes. By 2024, it’s predicted that 2.5% of all U.S. homes will have a solar installation [2].

Solar by State

California is the national leader in solar installations according to the SEIA/GTM Research Solar Market InsightReport [3]. Here’s the ranking for the top ten solar states through 2019:

  1. California
  2. North Carolina
  3. Arizona
  4. Texas
  5. Florida
  6. Nevada
  7. New Jersey
  8. Massachusetts
  9. Georgia
  10. New York

Within the next five years California, Texas, Florida, Nevada and North Carolina are expected to deploy about half of all solar panel systems in the U.S. California’s solar mandate for new construction should result in a minimum of about 80,000 new solar systems installed per year [4].

America had the capacity to produce about 6 GW of solar panels per year as of Q1 2019, with plans to expand to about 9 GW [5]. The top three states for panel manufacturing, Ohio, Georgia and New York, account for nearly 60% of total US manufacturing capability [6].

Where We Stand Globally

As of the end of 2018, the US ranked second in solar panel installations behind China. Estimations for global solar energy growth are expected to exceed 300 GW per year by 2050, with North America responsible for about 20% of total deployment [7].

There has never been a better time to switch to solar energy than today. Renewable energy is the way of the future – not only are these resources cleaner and healthier, but they provide lasting price protection for families worldwide.

About Momentum Solar

Founded in 2009, we are an owner-operated company committed to delivering a first-class experience to our customers through their journey to cleaner, price-protected electricity generated by the sun.

Solar builds a better tomorrow. Visit our website momentumsolar.com or call us today at 1 (888)-MOMENTUM for your complimentary site assessment.

[1] https://www.thesolarfoundation.org/solar-jobs-census/

[2] https://www.seia.org/news/united-states-surpasses-2-million-solar-installations

[3] https://www.seia.org/us-solar-market-insight

[4] https://www.greentechmedia.com/articles/read/new-year-new-mandate-california-preps-for-home-solar-requirement

[5] https://www.nrel.gov/docs/fy19osti/73992.pdf

[6] https://www.solarpowerworldonline.com/u-s-solar-panel-manufacturers/

[7] https://www.irena.org/-/media/Files/IRENA/Agency/Publication/2019/Nov/IRENA_Future_of_Solar_PV_2019.pdf

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