If you are living in New York you know that electric bills can be brutal, and like most things, they’re even more expensive in the Empire State. New Yorkers in the lower Hudson Valley and NYC may pay an average of .26 cents per kilowatt-hour (kWh) for their electricity. That’s drastically higher than the national average. What’s more, the U.S. average cost of electricity is predicted to rise in the short-term by 3% each year, meaning energy prices will likely continue to rise incrementally.
While the amount you pay per kWh is fixed, the amount of electricity your household uses can vary greatly throughout the year. Seasonal changes, weather patterns, and the energy efficiency of your house and appliances all keep your energy bill fluctuating.
So, what can you do to get a handle on your out of control energy bill? Look towards the sky.
Solar Energy to the Rescue
Solar energy is abundant, sustainable, and renewable. It doesn’t emit greenhouse gasses, and solar panels are relatively inexpensive and easy to install. Investing in a home solar energy system can drastically reduce your electric bills.
Assess Your Usage
Reach out to your electric provider and request how many Kilowatt hours per year your home uses. This is what solar providers need to know to determine how much energy solar needs to offset for your particular situation. Once they have this information they can size a system and create a detailed proposal for you.
Spend to Save
Investing in solar might seem like a big upfront cost, however, it will only save you money in the long run. Your electric bill will fall, and in some cases, your yearly electricity costs can drop to zero.
You’ll probably save on your taxes, too. According to the Department of Environmental Conservation of the State of New York, NY residents are eligible for tax incentives for installing and using solar energy, including an income tax credit of 25% of the system cost (up to $5,000); exemption from state sales taxes for passive solar space heat, solar water heat, solar space heat and photovoltaics installed in residential and multi-family residential buildings; and a 15-year real property tax exemption for the cost of solar and certain other renewable energy systems constructed in New York State. In addition to that, the federal government offers a 30% tax credit and NYSERDA (A state-run incentive program) offers significant rebates based on total system size. It is not uncommon for slightly more than half of the average system to be covered by the above rebates.