“I have to fix my roof first!” a man yelled at me and closed the door; he will spend twice as much to get the necessary work completed than he would if he had taken a few minutes to listen to the right consultant. While he procrastinates, he will be paying unnecessarily high Con Edison bills and inflated property taxes; if he waits too long he will miss the solar incentives that chop about 70% off the cost of panels. The panels his neighbors are getting do more than just generate electricity, they also provide protection from winds much stronger than those of Superstorm Sandy.
(Note: This post is for informational purposes only and incentive details must be reviewed during consultation before signing).
30% for your roof from Uncle Sam: The Residential Renewable Energy Tax Credit reduces tax obligations by 30% of the necessary cost of going solar. For example if a new roof plus solar array cost $40,000 your tax bill will be reduced by $12,000. If you have $1,000 a month withheld from your paycheck and otherwise would neither owe nor get a refund at the end of the year, you would get a $12,000 refund check.
20% for your roof from Big Apple City: The NYC Solar Panel Tax Abatement reduces property taxes. Using the same example where the roof plus solar array cost $40,000 your property tax bill will be reduced by $2,000 a year for four years. $8,000 total.
The New York State tax credit is capped at $5,000 so for most homes it will reduce the cost of panels but not roof repairs.
A solar consultant will speak with you and then prepare zero down loan documents and you will own your energy production and a solid roof.