By Theresa Ficazzola
New York residents can take advantage of several solar panel incentives that can reduce the overall cost of a solar panel system. Below is a brief overview of the 2026 solar panel incentives for New York.
- Drastically reduce your electric bill.
- Cash in on NY state and NYC tax benefits.
- Protect yourself from rising energy prices.
- Do something amazing for the environment.
Save Money on Your Electric Bill
Install rooftop solar panels in New York and gain control of your electric bill. How? You’ll be protected from future utility rate increases from ConEd. Electric bills, especially in the Northeast, have been on the rise for quite some time. Additionally, consumers in New York City typically spend about 49% more for their energy than the average American in other states.
If you live in New York, you’ve seen your ConEd bill increase steadily over time. New York City electric customers saw their bills increase by 20% over the last few years alone and the trend is far from over. It’s reported that increases are projected each year, totaling another 10.4% by 2028.
Since we all have different size homes and electric uses, your solar panel system will be tailored to your house, so your savings will vary from someone else’s. However, on average, New York homeowners can typically save between 50%-90% of their monthly ConEd utility bill.
Plus, if you qualify, you can install a complete solar panel system on your home for little or no upfront investment.
And, by choosing SI Solar as your rooftop solar panel installation expert, you’ll get a 25-year warranty on your solar panels. This gives you peace of mind for years to come. Plus, you’ll be supporting a locally owned and operated small business.
NY State and NYC Tax Benefits
New York State Tax Credit: All NY State homeowners receive a one-time tax credit of up to $5,000 the year their rooftop solar panels are installed. So that’s another reduction in the cost of a solar power system. Just complete Form IT-255 when filing your New York State income tax return.
New York City Property Tax Abatement: As a NYC resident, you are also entitled to an additional 4-year property tax abatement of 30% of the cost of your solar power system up to $62,500. To receive this abatement, there is nothing you need to do. If SI Solar is your solar panel installation expert, we would file for the rebate on your behalf.
Sales Tax Exemption: Unlike most things you purchase, you don’t pay any sales tax on any solar energy system equipment and supplies.
Since everyone’s personal situation is different and to ensure you receive all the tax benefits you’re entitled to, you should speak with your tax advisor regarding all your solar panel tax credits as they apply to you.
Environmental Benefits
According to the SEIA (Solar Energy Industries Association), 183 million metric tons of CO2 emissions are reduced annually by US solar installations.
“Deploying more solar energy will sharply reduce the carbon, sulfur and mercury pollution that come from burning fossil fuels, saving approximately 60,000 American lives each year,” according to SEIA.
The SEIA’s target is for solar to reach 30% of US electricity generation by 2030. However, solar installations need to ramp up quickly in order to reach this milestone. Generally speaking, annual solar installations must increase by 60% above current forecasts between now and 2030. That’s an aggressive target, but if everyone who could do solar, actually did solar, it’s achievable.
You can help us achieve that goal by installing solar panels on your home. Call SI Solar today for a free quote.
