Estimated Savings for a Typical New York Home
Based on a $150/month electric bill
System Size
5.5 kW
Gross Cost
$19,659
Federal Credit
-$5,898
State Incentive
-$5,000
Net Cost
$8,761
Annual Savings
$1,460
Payback Period
6 yrs
25-Year Savings
$41,109
CO₂ Offset/yr
6,161 lbs
New York Solar Incentives
30%
Federal Investment Tax Credit (ITC)
Deduct 30% of your total solar installation cost from your federal taxes. Available through 2032 with no dollar cap.
$5,000
New York State Incentive
New York offers a 25% state tax credit up to $5,000.
Net Metering Policy: Full Retail
Top utility in New York: Con Edison. View full incentives detail →
Solar Costs by City in New York
| City | Annual Savings | Payback (yrs) | Population ↓ | Utility |
|---|---|---|---|---|
| New York City | $1,460 | 5.7 | 8,336,817 | Con Edison |
| Buffalo | $1,460 | 6 | 278,349 | National Fuel Gas |
| Rochester | $1,460 | 5.7 | 211,328 | Rochester Gas & Electric |
| Yonkers | $1,460 | 6.8 | 200,370 | Con Edison |
| Syracuse | $1,460 | 7.4 | 148,620 | National Grid NY |
| Albany | $1,460 | 5.6 | 97,856 | National Grid NY |
| New Rochelle | $1,460 | 5.3 | 79,557 | Con Edison |
| Mount Vernon | $1,460 | 7.4 | 73,893 | Con Edison |
| Schenectady | $1,460 | 6.2 | 66,135 | National Grid NY |
| Utica | $1,460 | 6.2 | 59,750 | National Grid NY |
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Quick Facts: New York
- ⚡ Avg rate: $0.218/kWh
- 🌞 Peak sun: 4.2 hrs/day
- 🏭 Top utility: Con Edison
- 📋 Net metering: Full Retail