Solar Electric Systems

(Photovoltaic)

Let the SUN energize your home!

SOLAR ELECTRIC POWER 

 Imagine – LIPA paying your electric bill!

By using the free energy from the sun, you’re protecting yourself from rising electric rates.  You can reduce your current electric bills and sell electricity back to LIPA.  When your system generates more electricity than is being used by your household, your electric meter spins backwards!  The excess energy your system produces is put into an “energy bank” with LIPA.  Then, during the times when your system may not be producing as much power, you can withdraw from this “bank” to pay for your electricity!

THE SUN’S THE WAY TO GO…In addition to the ability to save money by investing in solar electricity, you will also be doing your part to help our environment.  By using the Sun’s energy, you will be helping to reduce  emissions of greenhouse gasses like carbon dioxide.  The use of renewable energy sources also results in a reduction of our country’s dependence on foreign oil.

THERE IS NO TIME LIKE THE PRESENT TO MAKE THIS IMPORTANT INVESTMENT!

The cost to install a photovoltaic solar electric system varies according to your specific roof design (i.e., shading factors, roof pitch, skylights, chimney location, etc.).  All these factors effect the size and the cost of the system that your house will accommodate.  A typical system of 5,000 watts will be used for discussion purposes:

System size:  5,000 watt

Electricity generated in one year:  6,375 kwh

Electric Rate: 22 ¢/kwh

Yearly Electricity Saving: $1,402

(Electricity Generated 6,375kwh x electric rate 22¢/kwh)

Rebates and Tax Credits

LIPA rebate*: $2.00/watt x 5,000 watts = $10,000.00

New York State Tax Credit: $4,987.50**

Federal Tax Credit: $5,985.00**

Total Rebates & Credits Available: $20,972.50

System Cost

Installed 5,000 watt system:                                                  $29,950.00

Less LIPA Rebate, NY/Federal Tax Credits      subtract    $20,972.50

Net Installed Cost (30% of system cost!)                            $  8,977.50

  * Effective 05/03/10 at 5:01pm, the LIPA rebate is $2.00/watt, or 50% of the installed cost, whichever is less.

**Current NYS Tax Credit is 25% capped at $5000.; Federal Tax Credit is 30% un-capped.

***Nothing contained on this site is meant to give tax advice.  Please be sure to consult with your accountant with regard to tax credits.  Figures based on May 2010 Rates and amounts.