Solar is everywhere. Sometimes it’s hard to know where to start or what any of it means.
If you’re a Long Island homeowner, you should be aware of the options available to you – and which you should take advantage of.
What is a Solar Lease?
A solar lease is an agreement between a homeowner and a solar company that contractually provides solar panels to a homeowner for a designated period of time in exchange for a monthly payment.
Leases appear to be a great investment from the jump: A promised monthly savings on your electric bill and a hand in helping the environment.
Plus, when the lease term is up there will be better technology to replace it – right?
Unfortunately, many solar leases exploit homeowners.
Newsday’s Thomas Maier and Mark Harrington two weeks ago revealed a wealth of consumer complaints about solar leases.
Let’s be clear: Many solar companies ethically provide solar leases.
Yet even an ethical solar lease leaves the average homeowner with a 2.9 percent average annual increase on your savings.
What’s more? Most solar leases lock homeowners into longterm agreements that make it difficult for homeowners to move.
New York in 2014 realized this and decided to create a program to help.
The opportunity to make the switch to solar has never been easier for New York homeowners.
NY – Sun is a taxpayer incentive program that allows homeowners to reduce and lock their existing utility bill and outright own their solar system.
New York looks for solar ready houses – houses that solar can perform most effectively.
That means that less than 25 percent of New York state is eligible to qualify for NY-Sun.
If you want to help the environment, save money, and sustain Long Island’s economy, you owe it to yourself to find out if you qualify.