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Long
Island - Residential
Solar Pioneer Program
Incentive Type: Utility Rebate Program
Eligible Technologies: Photovoltaics
Applicable Sectors: Commercial, Residential
Rebate: $5/watt for first 500 kW installed;
$4.50/watt for next 1 MW installed capacity
Terms: up to 10 kW
Effective Date: 1999
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| Summary:
LIPA launched its Solar Pioneer Program to encourage the use of
clean solar energy among Long Island homeowners and businesses and
to help make the installation of a PV system more affordable. The
Solar Pioneer Program, a five-year initiative that is part of LIPA's
$32 million commitment to developing clean energy alternatives.
LIPA's Solar Pioneer Program offers you, direct incentives of $5
per watt towards the installation of a PV system up to 10kW, or
a maximum rebate of $50,000.
In addition, you can take advantage of:
Net Metering. Homeowners can use solar power to run their
LIPA meter backwards and sell excess energy production back to LIPA
New York State's 25% tax credit towards the total cost of a PV
system, with a maximum credit of $3,750. If your tax credit is
greater than the amount of tax you owe New York State, the balance
will not be refunded to you. However, any credit amount in excess
of the tax due can be carried over for a maximum of up to five years.
A 15-year real property tax exemption through New York
State's Real Property Tax Law for solar systems installed in New
York State.
The following is an example of what a
3 kW PV system would cost:
| 3 kW PV system including contractor
installation at $9/watt: |
$27,000
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| LIPA's PV Rebate at $5/watt: |
15,000
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| Cost to Customer: |
12,000
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| New York State's Solar
Tax 25% Credit |
3,000
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| Final Cost to Customer: |
$ 9,000
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Homeowners also can take advantage of 1998 legislation that allows
New York State taxpayers to claim a state income tax credit of 25%
of their net cost on the PV system, up to a maximum credit of $3,750.
The LIPA Solar Pioneer program's rebate, combined with New York
State's Solar Tax Credit and Net Metering Law, is making the installation
of PV systems on Long Island among the most affordable in the country.
LIPA
Residential Solar Pioneer Rebate Program Application Form
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