This Built Well Solar installation in Northport was the 750th LIPA Solar Pioneer home on Long Island. At the ceremony LIPA held to celebrate the installation, Linda and Stan Fostek said, “Installing our solar electric system was very empowering. We felt that we had taken some control back on our energy costs and at the same time we were also contributing to the community by reducing some of the strain on the power grid. We’re both very excited to be part of the Solar Pioneer group.”
Solar For Homes "Within about five years, we* have gone from less than a handful of solar-electric installations on Long Island to more than 1,800 today... add in businesses, and it's more than 3,000 roofs." --*LIPA, 2006 (By April 2012, there were about 5,000 solar roofs on Long Island.)
About Residential Installations
Growth of solar installations In 2001, Built Well Solar installed the very first 10 kilowatt solar energy system on a home in Bellmore. Five years later, on October 5, 2006, LIPA held a dedication ceremony in celebration of its 750th residential PV system on Long Island, the home of Linda and Stan Fostek in Northport, also completed as it so happened by Built Well Solar. At the time of the Fosteks' installation, LIPA reported that it had rebated approximately $20 million dollars for solar installations on Long Island. Since then, LIPA has has rebated another $100 million has been distributed for solar installations, and generous rebates continue to be offered through LIPA's solar program. These rooftop solar energy systems are expected to produce 46,000,000 kilowatt hours (kWhs) per year for the next 30 years, equivalent to removing almost 4,000 cars off the road and 2,429,937 gallons of gas consumed per year.
It's your installation As solar becomes increasingly popular, at Built Well Solar we continue look at each installation individually, installing each system the right way, as if it were being installed on our own home.
Built Well Solar Makes It Easy Built Well Solar has completed numerous residential solar installations across Long Island. Their knowledgeable and experienced solar-electric (photovoltaic) system experts take care of every aspect of your residential solar installation from evaluating your electric needs and determining the right size and capacity system for your home to ensuring it is up and running safely and efficiently. They walk you through every step of the process, including the LIPA rebate application and other procedures involved in obtaining financial incentives. For more information and to have your home evaluated for solar, call (516) 695-1000, ext. 1, ore-mail us at email@example.com. Low Or No Electric Bills! Amazing but true, Built Well Solar’s residential solar customers on Long Island now have low or no electric bills – some even receive a payback from LIPA at the end of the year!
Financial Incentives for Residential Solar
LIPA Cash Rebates: Through its Solar Pioneer Program, the cost of a solar-electric (PV system) on your home is substantially reduced. Every year, individual homeowners each receive thousands of dollars provided by LIPA as a cash incentive to make the switch to solar electricity, a way to reduce the strain on Long Island's energy grid.
As of March 1, 2013, LIPA rolled out a new Expected Performance-Based Buydown (EPBB) cash rebate program. Its cash rebates are calculated according to the particular PV system's expected performance, and not by the system capacity. The Solar Pioneer residential purchase is currently based on a calculation of performance at an EPBB incentive maximum $1.66 per watt basis -- for example, $16,600 maximum for a 10kW with perfect solar conditions (south-facing, no shading, optimal tilt, etc.) and with less-performing systems provided a reduced amount usually averaging about $13,000 for a 10kW sized system, for example, or 50% of installed cost, whichever is less. As with all rebate levels, the current level is subject to change. (The program for leasing is currently based on an EPBB incentive maximum $1.58 per watt basis; that program works a bit differently; contact us for information.)
A $5,000 State Tax Credit: A 25% tax credit is offered on home PV systems installed in New York State, capped at a maximum of $5,000.
A true 30% Federal Tax Credit: A 30% federal tax credit is offered for residential installations...the $2000 cap was removed under new legislation! Congress passed this enhancement ITC provision, and also extended the credit through 2016. Talk to your accountant or tax advisor.
No Sales Tax: The cost of a PV system is free of New York State sales tax, as well as Nassau or Suffolk county sales tax.
No Increase in Real Estate Taxes: In New York State, any increase in assessed value of the residence due to the solar-electric system is exempt for 15 years from property tax. Both Nassau and Suffolk counties also offer an exemption. See New York State's Real Property Tax Law.
Higher Resale Value -- A home with solar-electricity is valued at more than the same home without it. According to a New York Times article, homes with solar benefit from higher apprecition than those without it. This only makes sense, since a home with low or no electric bills is appealing to homebuyers!
Contact us If you have any questions and want to learn more about commercial solar installations, including how Built Well Solar will help you through every step in the process, call us at (516) 695-1000 or reach us by e-mailat firstname.lastname@example.org