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

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

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 Terryville 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

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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 Terryville?

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/


The term "solar incentives" broadly refers to financial incentives that are in place to encourage the use of renewable energy by making solar panels more affordable. Incentives could include things like discounts, cash back or credit towards your monthly utility bill. Some incentives are provided by the federal government, while others are offered by the state of New York or by your specific utility company, county or municipality. Some broad categories of solar incentives include:

  • Net Metering: Net metering factors in once your solar panels are up and running. If you've signed a net metering agreement with your Terryville utility company, the company will subtract the value of the excess energy your solar system produces from your monthly utility bill. In some areas, this is a dollar-for-dollar credit, while in other areas you may make back a percentage of the value.
  • Tax Credits: Tax credits are dollar-for-dollar reductions in the amount of income tax that you owe the government. (A tax credit is different from a tax deduction.)
  • Tax Exemptions: These could come in the form of property tax exemptions, which allow you to ignore the value added by your solar panels when paying taxes on your home. You may also qualify for an exemption on sales tax at the time of purchase.
  • Rebates: A rebate is a partial refund after the purchase of your solar system. Rebates might be offered by your local utility company, your county or your state. The rebates are usually applied before calculating tax credits.

Federal Solar Incentives

Federal incentives are the kind of incentives that you are most likely to have some knowledge of. The solar incentive that you're most likely to have heard of is the Federal Solar Investment Tax Credit (ITC), which gives you a credit on your taxes equal to a certain percentage of your solar system's cost.

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, labor, equipment and accessories. This credit can be claimed on solar panels installed on a primary or secondary residence that you own in the United States. The original claim amount was 30% of the total cost, although certain projects may qualify for only 26%, depending on the details. There is no maximum amount you can claim.

To better understand exactly how much the ITC could save you, get in touch with your local Terryville solar panel installer.

The Inflation Reduction Act, passed in August 2022, added more provisions to the ITC (as well as retitling it the Clean Energy Credit). The Clean Energy Credit is valid until 2035. Solar installation projects started after January 1, 2022 and completed by the end of 2032 may qualify for a 30% tax credit. The amount will then decrease slightly each year until the current program ends. The expansion also makes claiming credit for energy storage systems easier than ever before, starting in 2023.

Click here to learn more about the new Inflation Reduction Act. Your local Terryville solar panel installer can answer your questions and explain how the new Clean Energy Credit applies to you.

State & Local Solar Incentives

Some solar incentives are often also provided by state and local governments. Similar to federal incentives, these might include tax credits, rebates and more. Incentives might be handled by the state of New York, or by your county or municipality. Some incentives may be available for only a limited time, while others are ongoing.

Next Steps for Installing Solar in Terryville

You can receive solar incentives from the federal government and the New York government, as well as from your local utility company. Growing availability of solar initiatives over the last 15 years has helped greatly increase nationwide adoption of solar energy. When you're ready to switch over to solar energy, talking to your local Terryville solar panel installation expert is an excellent place to start.

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 Terryville, NY Solar Incentives FAQs

If I already have solar panels, can I still claim incentives?

An excellent idea would be to talk to someone from the company that installed your solar panels — or call a local Terryville solar installer — to better understand which incentives you might qualify for. If your system was installed after January 1, 2022, you likely qualify for the recently increased 30% tax credit under the Inflation Reduction Act. Systems installed between 2006 and 2021 may qualify for a tax credit of 26-30%.

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

Solar energy is renewable — by switching where you get your energy, you help reduce the strain on our planet's resources. A solar system can also lower the CO2 emissions from your home by 500 pounds yearly, or around 10,000 pounds in 20 years.

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

The new Inflation Reduction Act introduces multiple incentives designed to reward homeowners for making eco-friendly upgrades. Some incentives include tax credits and rebates for installing new electric appliances. You can find more details about these incentives here.

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

Yes, you can receive both tax credits and rebates towards the cost of solar panels. Depending on precisely which incentives you are eligible for, they may apply in a different order. Be sure to talk to your solar installer or a local tax professional to verify that you are claiming the correct incentives and that you're getting the most money possible.

Can I use a combination of solar and another type of renewable energy to power my home?

Yes, you can utilize multiple types of renewable energy to power your home — for example, a combination of geothermal and solar. You can also combine renewable energy generation with a backup source of non-renewable energy. Be sure to discuss your plan with your local Terryville solar installation expert, so that you understand what you'll need and what kinds of incentives you may or may not 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.

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