2024 Solar Incentives Guide for Warwick, NY - Tax Credits & Rebates

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

You'll learn about:

  • Local & State Solar Incentives
  • Federal Tax Credits (Updated for 2024 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 Warwick solar installers to see how much you can save.

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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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 Warwick?

Home Performance with ENERGY STAR

Incentive Type:
Loan Program

Residential Wood Heating Fuel Exemption

Incentive Type:
Sales Tax Incentive
100% exemption

On-Site Wind Incentive Program

Incentive Type:
Rebate Program
Tier I: 10,000 kWh of expected annual energy production: $3.50/annual kWh
Tier II: 10,000 kWh - 125,000 kWh of expected annual energy production: $1.00/annual kWh
Tier III: 125,000 kWh - 1,000,000 kWh of expected annual energy production: $0.30/ annual kWh
Tier IV: Greater than 1,000,000 kWh of expected annual energy production: $0.15/ annual kWh
These incentives are additive.

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

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%

NY Green Bank

Incentive Type:
Other Incentive

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 Sales Tax Exemption

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

State of NY Commercial PACE Financing Program

Incentive Type:
PACE Financing
Locally determined

Solar Sales Tax Exemption

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

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

Refundable Clean Heating Fuel Tax Credit (Corporate)

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

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:

Refundable Clean Heating Fuel Tax Credit (Personal)

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

Anaerobic Digester Gas-to-Electricity Rebate and Performance Incentive

Incentive Type:
Performance-Based Incentive
  • Capacity Incentive: Varies on the construction and design of the system
  • Performance Incentive: $0.025/kWh production payment for new systems for up to 10 years (estimated using a capacity factor of 75%)
  • Interconnection Incentive: up to 75% of the costs exceeding $5,000
  • Project Enhancement Incentives: Available for Black Start Capability, Hydrogen Sulfide reduction, design for accepting food waste and others

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 mitigate the cost of installing solar panels on your home. These financial incentives are designed to encourage more homeowners to switch to renewable energy. You might qualify for various kinds of incentives, including cash back, discounts or monthly utility bill credits, depending on your situation. Some incentives come from your specific utility company, county or municipality, some from the New York government and others from the federal government. Some solar incentives you might qualify for are:

  • Tax Exemptions: Your solar panel system may qualify for both sales tax and property tax exemptions. Sales tax exemptions are applied at the time of purchase. Property tax exemptions allow you to exclude the value that solar panels add when you are calculating property taxes on your house.
  • Tax Credits: Unlike tax deductions, tax credits are dollar-for-dollar reductions in the amount of income tax that you owe the government.
  • Net Metering: Net metering factors in after your solar panels are up and running. If you have a net metering agreement with your Warwick utility company, the company will subtract the value of the excess energy your solar system produces from your utility bill each month. In some areas, this credit is dollar-for-dollar, while in other areas you might receive a refund equivalent to a percentage of the value.
  • Rebates: Rebates, or cash back after a purchase, are typically applied prior to any solar tax credits being calculated. Solar rebates may be provided by your local utility company, by your state or by your county.

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Best Regional Coverage

Momentum Solar

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

Best for Leasing

Sunrun

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4.0

  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

Federal Solar Incentives

When you think about solar incentives, you likely think of federal incentives first. The solar incentive that you may be most familiar with is the Federal Solar Investment Tax Credit (ITC), which gives you a credit on your taxes equal to a percentage of your solar system's cost.

The ITC can be applied to solar systems installed after January 1, 2006, and under this program you can deduct from your taxes a percentage of the total cost of solar panels, equipment, accessories and labor. You can claim this credit for a solar panel system 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 the amount you can claim may range between 26-30%. There is no maximum amount you can claim.

Contacting your local Warwick solar panel installation expert is the best way to understand how the ITC applies to your situation.

The Inflation Reduction Act, passed in August 2022, made some changes to the ITC (as well as renaming it to the Clean Energy Credit). The Clean Energy Credit lasts until 2035. Solar installation projects started after January 1, 2022, and completed by the end of 2032 may qualify for a 30% tax credit; this amount will decrease slightly each year until the end of the current program. Beginning in 2023, it will also be easier to get credits for energy storage systems under this new program.

Click here to learn more about the new Inflation Reduction Act. To understand how the new Clean Energy Credit applies to you, reach out to your local Warwick solar installers.

State & Local Solar Incentives

Some solar incentives may be provided by state and local governments. Similar to federal incentives, these can include rebates, tax credits and more. These incentives may be given out by the New York government, or by your county or municipality. Some are ongoing, while others are available for a limited time.

Next Steps for Installing Solar in Warwick

There are many types of solar incentives: those offered by local utility companies, those provided by the federal government and those offered by the New York government, to name a few. The use of solar energy has grown tremendously in the last 15 years, thanks to these incentives. If you're prepared to switch over to solar energy, reaching out to your local Warwick solar panel installation expert is an excellent place to start.

EcoWatch's Warwick, NY Solar Incentives FAQs

How much will a solar system save me on my electric bill in Warwick annually?

On average, homeowners in Warwick who install solar panels save approximately $1,228.77 per year, or around $23,346.64 over 20 years after making the switch.

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

Solar energy is renewable — by switching where you get your energy, you can help reduce the strain on our planet's resources. You can also reduce your home's CO2 emissions by 100 pounds yearly, or roughly 2,000 pounds in 20 years.

When does the federal solar tax credit end?

The federal solar tax credit, formerly known as the ITC and now called the Clean Energy Credit, is slated to end on January 1, 2035. The current 30% credit will end in 2032, replaced by a 26% credit in 2033 and a 22% credit in 2034.

Can I receive any incentives when I add solar panels to a vacation home, rental property or commercial property?

Many solar incentives apply to a property you own that is located within the United States, and most secondary residences fall under this distinction. Other solar incentives may be available for commercial properties, depending on the specifics. We recommend getting in touch with your local solar installer and/or tax professional to fully understand what incentives may apply to your specific situation.

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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