An 8 kW system costs $24,500 in New York, but homeowners stack 25% NY state credit + NY-Sun incentives + 30% ITC. After all credits, net cost drops to $17,150 — and the state credit alone covers $5,000, making NYC one of the best solar markets in America.
Con Edison
$0.2328/kWh
6 kW · $21,000 gross · $14,700 after ITC
~$2,350/year
5.8 years
4.7 hrs/day
New York's combination of high electricity rates, a 25% state tax credit (up to $5,000), and NY-Sun incentives makes NYC one of the best solar markets in the US. Con Edison customers receive full retail-rate net metering. On a $21,000 system, the state tax credit alone covers $5,000 — on top of the $6,300 federal ITC.
Solar Cost Breakdown for New York Homeowners
| Cost Item | Amount | Notes |
|---|---|---|
| Equipment (panels + inverter) | $10,500 | Tier-1 panels, string inverter |
| Installation labor | $4,800 | New York market rate |
| Permits & inspections | $850 | Local New York permit fees |
| Gross total | $24,500 | Before incentives |
| Federal tax credit (30%) | −$5,160 | ITC for 2026 |
| Net cost | $17,150 | After federal credit |
Expected Savings in New York
With New York's electricity rate of $0.237/kWh and average peak sun hours of 4.2 hrs/day, a typical New York solar system saves approximately $2,820/year on electricity bills — a 25-year total savings of over $48,750.
Is Solar Worth It in New York?
Yes — New York homeowners typically see payback in 7.9 yrs with a lifetime ROI exceeding 300%. With electricity rates rising 4–6% annually in New York, solar locks in your energy cost today.
"The 30% federal Investment Tax Credit remains the single most powerful solar incentive in 2026 — but it only applies to systems you own outright (purchase or solar loan). If you're comparing a lease vs. loan, run the numbers on the ITC value first. For most homeowners, ownership beats leasing by $8,000–$15,000 over 25 years. Always get at least 3 quotes and verify NABCEP certification before signing any contract."
Frequently Asked Questions — Solar Cost & Savings in New York
Cost data sourced from SEIA (Solar Energy Industries Association) quarterly market reports. Solar irradiance and sun-hour data from NREL PVWatts. Electricity rates from U.S. Energy Information Administration (EIA). Home value impact research from Lawrence Berkeley National Laboratory. All figures reflect 2026 market conditions and are updated quarterly. Individual quotes may vary based on roof type, shading, system size, and installer.