2023 Solar Incentives Guide for Brookhaven, NY - Tax Credits & Rebates
In this guide, we'll cover the latest solar incentives and rebates available in Brookhaven.
You'll learn about:
- Local & State Solar Incentives
- Federal Tax Credits (Updated for 2023 and beyond)
- Ways to optimize your solar investment
Solar installers are experts in maximizing your solar tax credits and rebates.
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Updated May 04, 2023
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What Solar Tax Credits, Incentives, and Rebates are Available in Brookhaven?
State of NY Commercial PACE Financing Program
Residential Solar Tax Credit
Refundable Clean Heating Fuel Tax Credit (Corporate)
NY-Sun Loan Program
Small Business and Not-for-Profit Organizations:
Participation Loans: up to $100,000 (at low interest rate)
On-Bill Recovery loans: $50,000 at 2%
Residential Wood Heating Fuel Exemption
Local Option - Solar Sales Tax Exemption
Solar Sales Tax Exemption
Local Option - Real Property Tax Exemption for Green Buildings
Energy Conservation Improvements Property Tax Exemption
Local Option - Solar, Wind & Biomass Energy Systems Exemption
NY-Sun PV Incentive Program (Residential, Low-Income, and Small Business)
Residential:
Long Island Region: $0.00/W (MW blocks have been fully subscribed)
Con Edison Region: $0.30/W
Upstate Region: $0.35/W
Low-to-Moderate income customers: $0.80/W (up to 10 kW)
Small Commercial (Non-Residential): Long Island Region: $0.00/W (MW blocks have been fully subscribed)
Con Edison Region: $0.60/W
Up State Region: $0.45/W
Multifamily Affordable Housing Adder: additional $0.40/W (up to 50 kW)
PSEG Long Island - Residential Energy Efficiency Rebate Program
Advanced Power Strips: $10 - $20
Air Purifier: $25 - $50
Clothes Dryer: $50 - $250
Clothes Washer: $50
Dehumidifier: $30
Dishwasher: $50
Exhaust Fan: $20 - $25
Electric Freezer: $30
Heat Pump Water Heater: $650
Pool Pumps: $150 - $350
Refrigerator: $50
Refrigerator Recycling: $50
Lighting
Instant Rebates Vary by Product
Bulk Light Purchases: Up to $2 - $3/unit
Cooling & Heating
Central Air Conditioning: $450
Smart Thermostat: $85
Ground Source Heat Pump: $2,000/ton
Ground Source Heat Pump Rebate Program
Large Systems (> 10 cooling tons): $1,200/cooling ton
Home Performance with ENERGY STAR
Refundable Clean Heating Fuel Tax Credit (Personal)
Federal Residential Renewable Energy Tax Credit
Source: https://www.dsireusa.org/
Solar incentives are intended to make renewable energy usage more affordable through financial incentives for individuals who install solar panels on their homes. Various kinds of incentives, such as cash back, discounts or monthly utility bill credits, may be available to you. Certain incentives may be provided via the state of New York, by your utility company or by county or municipality, while other incentives are federal. You might qualify for any of the following types of solar incentives:
- Tax Exemptions: Your solar panels might qualify for exemptions on both sales and property tax. Sales tax exemptions come into effect at the time of purchase. Property tax exemptions let you exclude the value that solar panels add when you are calculating property taxes on your house.
- Tax Credits: Tax credits lower, dollar-for-dollar, the total amount of tax you owe the federal government. These differ from tax deductions.
- Net Metering: Be sure to speak with your Brookhaven utility company about signing a net metering contract. This will allow you to get a credit towards your utility bill every month for the value of excess energy generated by your solar panels. You may receive either a dollar-for-dollar credit or a percentage of the value.
- Rebates: Solar rebates can be offered by your local utility company, or by your state or county. These rebates are essentially partial refunds that are applied after you pay for a solar system and before tax credits are calculated.
Federal Solar Incentives
Federal solar incentives are likely the first thing that you think of when thinking about solar incentives. One of the incentives many people are probably familiar with is the Federal Solar Investment Tax Credit (ITC). This incentive is a tax credit for a certain percentage of the cost of your solar system.
The ITC can be applied to solar systems installed after January 1, 2006 and lets you deduct from your taxes a percentage of the total cost of solar panels, accessories, labor and equipment. You can receive this credit for a solar panel system installed on a primary or secondary residence in the United States that you own. The original claim amount was 30% of the total cost, although depending on when the project was completed, your credit may range from 26-30%. There is no maximum claim amount.
To better understand exactly how much the ITC could save you, get in touch with your local Brookhaven solar panel installation expert.
In August 2022, the ITC (now titled the Clean Energy Credit) was expanded and extended by the passage of the Inflation Reduction Act. Now, solar installation projects begun after January 1, 2022 and finished by December 31, 2032 might qualify for a 30% tax credit. This percentage will then see a slight annual decrease until the end of the current Clean Energy Credit in 2035. The expansion also makes credits for energy storage systems even easier to claim, starting in 2023.
More information about the new Inflation Reduction Act can be found here. To fully understand how the new Clean Energy Credit might apply to you, reach out to your local Brookhaven solar installation expert.
State & Local Solar Incentives
Tax credits, rebates and more might be provided at multiple levels. In addition to federal solar incentives, there are often state and local ones, too. Some incentives are ongoing, while others are offered for only a limited time. Your local solar incentives might come from the New York government, or from your specific county or municipality.
Next Steps for Installing Solar in Brookhaven
Solar energy use nationwide has significantly increased in the last 15 years, in part thanks to the growth in the number of solar incentives. You can obtain these incentives from your local utility company, the New York government or the federal government. We recommend talking to your local Brookhaven solar installation expert for more information about these incentives and to make sure that you're getting the largest number possible for your solar system.
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EcoWatch's Brookhaven, NY Solar Incentives FAQs
If I already have solar panels, can I still claim incentives?
An excellent idea would be to talk to the company that installed your solar panels — or get in touch with a local Brookhaven solar installer — to learn about which incentives you may qualify for. If your solar panels were installed after January 1, 2022, you likely qualify for the newly increased 30% tax credit under the Inflation Reduction Act. Systems installed between 2006 and 2021 may qualify for a tax credit of 26-30%.
How much will solar panels save me annually on my electric bill in Brookhaven?
On average, homeowners in Brookhaven who install solar panels save about $1,151.18 per year, or about $21,872.41 over 20 years after they make the switch.
What are the top solar panel installation companies near me?
To find the best solar panel installers near you, read our article on the top solar companies in Brookhaven.
What are the environmental benefits of switching to solar energy?
Solar energy is a renewable energy source — by changing where you get your energy, you help lessen the strain on our planet's resources. A solar system can also reduce the CO2 emissions from your home by 500 pounds annually, or roughly 10,000 pounds in 20 years.
Can I use a combination of multiple types of renewable energy to power my home?
Yes, you can employ multiple types of renewable energy to power your home — for example, a combination of solar and geothermal. You can also use both renewable energy sources and a non-renewable backup source of energy. Make sure that you discuss your plan with your local Brookhaven solar panel installer, to get an understanding of what will be needed and what incentives you will or won't qualify for.
Our goal is to reach as many people as we can with sensible solutions like solar energy. Our team of full-time local researchers collects solar price and installation data for every city in America then compiles it to create these digestible city guides. If you want to read our solar expert's opinion on the top solar companies featured here, follow this link.
Solar incentive research was conducted by Melissa Smith and Karsten Neumeister. Local data analysis was conducted by James Savino. See something we missed or could do better? Email the editor.