Solar Incentives
Solar incentives make your good investment affordable. Below is sample pricing based on a 5,060 Watt System.
| Total System Cost | $31,625* |
| NYSERDA Incentive ($1.75/watt) | ($8,750) |
| Net Cost (after rebate) | $22,875 (what you pay) |
| State Tax Credit (25%/cap of $5,000) | ($5,000) |
| Federal Tax Credit (30%, no cap) | ($6,863) |
| Total after incentives | $11,013 |
Not bad considering you will be creating over 6,213 kWh of power each year, which translates to over $100/month off your electric bill. Pay back is in less than 6 years with a pre-tax rate of return (IRR) of 15.8% over the life of the system.
More key to your purchase is the revenue you will make from producing your own power in comparison to your total investment. By saving at least $1,300 in your first year and more each additional year throughout the life of the system (30 years), you will be making $86,000, which is over 4 times the amount you paid for it.
And that's not all - your property value will increase by $17,000 because of your annual energy savings.
* SunBlue Energy offers same as cash financing - 0% for first year in order to cover tax credits. You therefore only pay $11,013. See financing page for details
SOLAR IS A GREAT INVESTMENT
For every $1 saved on energy annually, the value of your home increases by $20 - For example if you save $1,000/year in electricity, your home will increase in value $20,000. (Studies performed by Appraisal Institute and ICF Consulting on behalf of EPA and HUD)
Independence from Fluctuating Utility Rates - You are creating your own power, which provides electricity to both you and your utility provider. The Net Metering Agreement in New York State allows you to be credited for every Watt-Hour that your solar energy system creates which means your meter turns backwards and depending on system capacity and design can zero out your utility bill all together. As utility rates increase, your return on your investment increases because the amount of each Watt-Hour credited will increase, making your overall credit greater.
Long lasting and low maintenance - Solar energy systems require little to no maintenance and last over 30 years with many manufacturer's warranties at 25 years.
