2023 Solar Incentives Guide for Glen Cove, NY - Tax Credits & Rebates

In this guide, we'll cover the latest solar incentives and rebates available in Glen Cove.

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.
Get a free quote from one of our trusted Glen Cove solar installers to see how much you can save.

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated January 20, 2023

Why you can trust EcoWatch

We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

What Solar Tax Credits, Incentives, and Rebates are Available in Glen Cove?

State of NY Commercial PACE Financing Program

Incentive Type:
PACE Financing
Locally determined

Residential Solar Tax Credit

Incentive Type:
Personal Tax Credit
25% for solar-electric (PV) and solar-thermal systems; for third-party owned systems this is in reference to the aggregate amount owed under the contract rather than the amount owed in any single year

Refundable Clean Heating Fuel Tax Credit (Corporate)

Incentive Type:
Corporate Tax Credit
$0.01/gallon for each percent of biodiesel

NY-Sun Loan Program

Incentive Type:
Loan Program
Residential Customers: $1,500 - $25,000

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

Incentive Type:
Sales Tax Incentive
100% exemption

Local Option - Solar Sales Tax Exemption

Incentive Type:
Sales Tax Incentive
Upon local authorization, 100% exemption from local sales tax

Solar Sales Tax Exemption

Incentive Type:
Sales Tax Incentive
100% exemption from state sales tax

Local Option - Real Property Tax Exemption for Green Buildings

Incentive Type:
Property Tax Incentive
Upon local adoption, 20% - 100% of real property taxes owed; varies by year and certification level

Energy Conservation Improvements Property Tax Exemption

Incentive Type:
Property Tax Incentive
100% of the value added to the residence by the improvements

Local Option - Solar, Wind & Biomass Energy Systems Exemption

Incentive Type:
Property Tax Incentive
100% exemption for 15 years (unless local jurisdiction has opted out)

NY-Sun PV Incentive Program (Residential, Low-Income, and Small Business)

Incentive Type:
Rebate Program
Incentive rates step down over time as MW goals are met. Incentive rates as of 11/27/2019 are:

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)
Learn more:

PSEG Long Island - Residential Energy Efficiency Rebate Program

Incentive Type:
Rebate Program
Appliances
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

Incentive Type:
Rebate Program
Small Systems (≤ 10 cooling tons): $1,500/cooling ton
Large Systems (> 10 cooling tons): $1,200/cooling ton

Home Performance with ENERGY STAR

Incentive Type:
Loan Program

NY Green Bank

Incentive Type:
Other Incentive

Refundable Clean Heating Fuel Tax Credit (Personal)

Incentive Type:
Personal Tax Credit
$0.01/gallon for each percent of biodiesel

Federal Residential Renewable Energy Tax Credit

Incentive Type:
Personal Tax Credit
30% federal tax credit for systems placed in service after 12/31/2021 and before 01/01/2033. Good for: solar water heat, solar photovoltaics, biomass, geothermal heat pumps, wind (small), fuel cells using renewable fuels.

Source: https://www.dsireusa.org/


Solar incentives are intended to make renewable energy usage more affordable via financial incentives for those who install solar panels on their homes. These incentives could include upfront discounts, cash back or monthly credits towards your utility bill. Some incentives are given by the federal government, some by the state of New York and some by your specific utility company, county or municipality. Categories of solar incentives include:

  • Tax Exemptions: These may come in the form of property tax exemptions, which would allow you to ignore the value of your solar system when calculating the taxes you pay on your home. You may also qualify for an exemption on sales tax at the time of purchase.
  • Net Metering: Net metering becomes relevant after your solar panels are up and running. If you've signed a net metering agreement with your Glen Cove utility company, the company will subtract the value of the excess energy your solar system produces from your monthly utility bill. In some locations, this is a dollar-for-dollar credit, while in others you might receive a refund equivalent to a percentage of the value.
  • Rebates: Your solar installer might help you claim a rebate, or partial refund after purchase, for your solar panels. Counties or states will also offer limited-time rebates at various times. Any rebates you receive will usually come off the total price before tax credits are calculated.
  • Tax Credits: Tax credits are dollar-for-dollar reductions in the amount of income tax that you owe the federal government. (This is different from a tax deduction.)

Federal Solar Incentives

Federal solar incentives are probably the first thing that comes to mind when thinking about solar incentives. One of the incentives many people are likely to be familiar with is the Federal Solar Investment Tax Credit (ITC). This incentive is a tax credit for a given percentage of the cost of your solar system.

The ITC can be applied to solar panels installed after January 1, 2006 on a primary or secondary residence that you own in the United States. Originally, the tax credit was for 30% of the total cost — for panels, labor, equipment and accessories — although that amount may range from 26-30%, depending on the installation date of your solar system. There is no cap on the amount you can claim.

Curious how the ITC might apply to your specific situation? Contact your local Glen Cove solar panel installation expert to get more information.

The ITC has been renewed and expanded following the passage of the Inflation Reduction Act in August 2022. It's also now called the Clean Energy Credit. The new Clean Energy Credit is valid until 2035. Homeowners are now eligible for a 30% credit for solar systems that began installation on or after January 1, 2022 and will be done by December 31, 2032. The total credit will then be decreased by a few percentage points every year until the date of expiration. Starting in 2023, it will also be easier to claim credits for energy storage systems under the new laws.

Click here to learn more about the new Inflation Reduction Act. The best way to learn more about how the new Clean Energy Credit will apply to you is to speak with your local Glen Cove solar panel installers directly.

State & Local Solar Incentives

Not all solar incentives are federal; tax credits, rebates and more may be offered at the state and local level. Some incentives are ongoing, while others may only be available for a limited time. Solar incentives might be given by the New York government, or by your county or municipality.

Next Steps for Installing Solar in Glen Cove

You can apply for and receive solar incentives from the federal government and the New York government, as well as from your local utility company. The increased availability of solar initiatives over the last 15 years has helped greatly increase nationwide adoption of solar energy. Reach out to your local solar panel installer today to discover more about the various programs and to save the most money possible on solar panels for your Glen Cove home.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Regional Coverage

Momentum Solar

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best Technology

Tesla Energy

★★★★★
4.5

  • Price-match guarantee
  • Sleek, efficient, and durable solar panels
  • Best solar battery on the market
  • Some reported issues with customer service
  • Customer service varies by local dealer

EcoWatch's Glen Cove, NY Solar Incentives FAQs

How can I learn if I qualify for different solar incentives?

It's a smart idea to get in touch with your local Glen Cove solar installer to get an understanding of which incentives your project may qualify for. Typically, solar incentives apply to new solar systems installed on property you own (in the U.S.) within a specified date range. Some incentives, like those provided at the level of the New York government, might have other requirements.

What are some environmental benefits of adding solar panels to my house?

You can reduce your carbon footprint by 500 pounds of CO2 a year when you switch to solar panels. This adds up to around 10,000 pounds in 20 years. Solar is also a renewable energy source, meaning that making the switch lessens the drain on our planet's resources.

When does the federal solar tax credit end?

The Clean Energy Credit (formerly named the federal solar tax credit, or ITC), currently ends on January 1, 2035. Currently set at 30%, the credit will drop to 26% in 2033 and to 22% in 2034.

If I change out my appliances for ones that can use solar energy, are there any credits I can claim?

Under the new Inflation Reduction Act, there are a variety of new financial incentives that are available when you make eco-friendly improvements to your home. More details regarding these incentives, including information about incentives for purchasing new appliances, can be found here.

Can I receive incentives both towards the initial cost of solar panels, and later as reimbursement?

The order your incentives will be applied in may vary depending on which incentives you are claiming but typically yes, you can receive multiple types of incentives for your solar project. Get in touch with your solar installer or a local tax professional to be sure you are claiming all the incentives you are eligible for and applying them in the correct order.

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.

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