Solar-powered homes are an increasingly common sight across New York State and the country as a whole. In the past ten years, residential solar has experienced a boom unlike ever before in the United States. In 2010, 660 MW (DC) of residential solar capacity had been installed; by 2019, that capacity had increased over two-thousand fold to 15,850 MW (DC). What’s more, this tremendous growth in residential solar represents only a fraction of the total solar power installed — there has been a similar boom in commercial installations and utility-scale solar farms.
This boom is being driven mostly at the state level. Nearly every state has a clean energy program, and New York is a leader among them. Governor Cuomo’s energy initiative, Reforming the Energy Vision (REV), has committed the state to meeting seventy percent of its energy needs with renewables by 2030, and one hundred percent by 2045. Residential solar occupies a key role in this plan, and to promote it, New York offers generous incentives to help residents embrace clean power. Solar companies from across the country compete to help residents take advantage of solar energy.
The solar products on the market today — ranging from solar ownership, solar leases, and Power Purchase Agreements (PPAs) — are designed to help you go solar with the lowest barriers to entry. Which one is most suitable for your circumstances? This guide will help you understand the differences so you can pick the option that’s right for you.