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Solar vs. grid power: how much can you save?
Electricity rates are on the rise. The U.S Energy Information Administration (EIA) estimates that electricity prices in the U.S. rose 6.2% in 2023 alone.
Homeowners across the country are looking for ways to reduce their energy costs and many are turning to solar energy. But just how much can you save with solar and is it worth the investment?
Solar customers can often save tens of thousands of dollars over the lifespan of their solar system. To determine exactly how much you can save, you’ll have to do a little math.
Compare your current cost per kW from Central Hudson Gas & Elec Corp with the cost per kW of your solar system. Then calculate your monthly or yearly expenses across a 25-year period. Finally, subtract your total cost of energy with solar from your total of energy from the grid to determine your savings
A simpler way to estimate your savings potential is to compare your current monthly energy costs with your projected solar payments. If your energy costs are higher than your solar payments, there is a good chance you will see savings.
At Solar Cost Calculator, we suggest that anybody paying more than $100 a month for electricity should consider solar.
What solar incentives Central Hudson Gas & Elec Corp does offer?
Category : Regulatory Policy
Website : https://dps.ny.gov/distributed-generation-information
Applicable Sectors : Commercial, Industrial, Local Government, Nonprofit, Residential, Schools, State Government, Federal Government, Agricultural, Institutional
Incentive Amount :
Implementing Sector : State
Category : Financial Incentive
Website : https://www.nyserda.ny.gov/All-Programs/Programs/EmPower-New-York
Applicable Sectors : Residential, Multifamily Residential, Low Income Residential
Incentive Amount : Low-Income: no-cost Moderate-Income: 50% of eligible work
Implementing Sector : State
Category : Financial Incentive
Website : http://www.savingscentral.com/rebates/
Applicable Sectors : Residential, Low Income Residential
Incentive Amount : Rebate Programs Shop Local Smart Thermostat: $50 Electric Heat Pump Water Heater: $1,000 Federal Tax Credit: Up to $2,000 Additional discounts can be found here Heat Pumps Air-Source Heat Pumps: Up to $1,000 per 10,000 Btuh Federal Tax Credit: 30% of project cost up to $2,000 Ground-Source Heat Pump(GSHP): Up to $2,000 per 10,000 Btuh Outdoor Condenser: $100/unit Federal Tax Credit: 30% off the total cost of the GHSP system State Tax Credit: 25% off installation expenses up to $5,000 Natural Gas Heating Equipment Furnace: $200 - $400 Boiler Circulator: $25 Water Boiler: $750 Steam Boiler: $250 Combi-boiler: $1,800 Boiler reset control: $125 Indirect Water Heater: $250 Gas storage water heater: $75 Instantaneous domestic water heater: $250 Combi-Furnace/On-demand dhw: $675 Programmable WiFi thermostat: $50
Implementing Sector : Utility
Category : Financial Incentive
Website : https://www.nyserda.ny.gov/All-Programs/NY-Sun
Applicable Sectors : Commercial, Industrial, Nonprofit, Residential, Low Income Residential
Incentive Amount :
Implementing Sector : State
Category : Financial Incentive
Website : https://www.nyserda.ny.gov/All-Programs/Residential-Financing-Options
Applicable Sectors : Residential, Multifamily Residential, Low Income Residential
Incentive Amount :
Implementing Sector : State
Category : Financial Incentive
Website : http://ny-sun.ny.gov/
Applicable Sectors : Commercial, Construction, Industrial, Local Government, Nonprofit, Residential, Schools, State Government, Federal Government, Installers/Contractors, Multifamily Residential, Low Income Residential, Institutional, Integrators
Incentive Amount : Incentive rates step down over time as MW goals are met. Incentive rates as of 8/11/2023 are: Con Edison Region: Residential: $0.20/W Nonresidential (0 - 200 kW): $1.00/W Nonresidential (200 kW - 1 MW): $0.80/W Nonresidential (1+ MW): $0.50/W Upstate Region: Residential: $0.20/W Nonresidential: $0.35/W Long Island Region: Residential: $0.00/W (MW blocks have been fully subscribed) Nonresidential: $0.00/W (MW blocks have been fully subscribed) *additional adders/incentives are available
Implementing Sector : State
Category : Financial Incentive
Website : https://portal.nyserda.ny.gov/CORE_Solicitation_Detail_Page?SolicitationId=a0rt0000000QnB1AAK
Applicable Sectors : Commercial, Construction, Industrial, Schools, State Government, Federal Government, Agricultural, Institutional, Appliance Manufacturers
Incentive Amount : Minimum incentive of $25,000 Electric Process and Energy Efficiency: $0.10/kWh (Upstate) or $0.16/kWh (Downstate) Fossil Fuel Process and Energy Efficiency: $6/MMBtu (Upstate and Downstate) Operational and Maintenance: $0.04/kWh (Electric) and $3/MMBTU (fossil fuel)
Implementing Sector : State
Category : Financial Incentive
Website : https://www.nyserda.ny.gov/All-Programs/Programs/Assisted-Home-Performance-with-ENERGY-STAR
Applicable Sectors : Residential, Multifamily Residential, Low Income Residential
Incentive Amount : 50% of costs
Implementing Sector : State
Category : Financial Incentive
Website : https://www.lime-energy.com/business-support/save/
Applicable Sectors : Commercial, Local Government, Nonprofit, Schools, Federal Government, Installers/Contractors, Institutional
Incentive Amount : Direct Install: Contact Utility for information
Implementing Sector : Utility
Category : Financial Incentive
Website : http://www.savingscentral.com/rebates/
Applicable Sectors : Residential, Low Income Residential
Incentive Amount : Furnace Tier 1, AFUE ≥ 92% and KBTUH ≤ 225: $200 Furnace Tier 2, AFUE ≥ 95% and KBTUH ≤ 225: $400 ECM furnace fan: $100 ECM Boiler Circulator: $25 Water boiler, AFUE ≥ 90% and KBTUH ≤ 300: $750 Steam boiler, AFUE ≥ 82% and KBTUH ≤ 300: $250 Combi-boiler, AFUE ≥ 90% and KBTUH ≤ 300: $1,800 Boiler reset control: $125 Indirect water heater: $250 Gas storage water heater, Uniform Energy Factor ≥ .67 and ≤ 55 gallons: $75 Instantaneous domestic water heater, Uniform Energy Factor ≤ .90: $250 Combi-Furnace/On-demand dhw, AFUE ≥ 95%; ≤ 225 KBTU/hr: $675 Programmable WiFi thermostat: $50 Ground Source Heat Pump: $2,000 per 10,000 Btuh Electric Heat Pump Water Heater: $1000
Implementing Sector : Utility
Category : Financial Incentive
Website : https://www.cenhud.com/en/my-energy/simply-better/commercial-incentives/
Applicable Sectors : Commercial, Local Government, Nonprofit, Schools, Federal Government, Installers/Contractors, Institutional
Incentive Amount : Gas Furnace: $600/installed unit Hydronic Boiler: $1,800/installed unit Steam Boiler: $2,000/installed unit Indirect Water Heater: $250/installed unit* Wi-Fi Thermostat: $20/installed unit** Gas service line***: $4,500 value *Must be listed on invoice, **Must be installed with qualifying measure; ***A Central Hudson customer who does not yet have a gas service line to their building may have the gas main extended up to 100’, if needed, along a public road and up to 100’ of gas service to their building at no charge.
Implementing Sector : Utility
Installing and connecting your solar system
When you install a solar system in Central Hudson Gas & Elec Corp territory, these are steps you can expect to go through:
Once you’ve hired a contractor, you will need to communicate with Central Hudson Gas & Elec Corp to prepare the interconnection paper. Your contractor will handle most of these responsibilities
After the interconnection agreement has been finalized, your contractor can begin the installation process.
Once your system is installed, it needs to be inspected for safety and code compliance.
After the final inspection, you will receive a written notice within a few days that your system is approved to operate. You can turn on the system yourself or you can contact your installer for further assistance.
Most homeowners prefer to do it themselves. The whole process should only take 10 - 15 minutes.
Is solar worth it for Central Hudson Gas & Elec Corp customers?
The short and sweet answer is a resounding YES. Going solar is definitely worth it for Central Hudson Gas & Elec Corp customers. The average homeowner in _UtilityCompanyName_ can save an estimated #### over the lifespan of their solar system.
Going solar is a long game so you need to think several years ahead. It can take a few years to hit your break even period. But between net metering and solar incentives, you can drastically reduce that timeframe.
Want to get an idea for what it will cost you to go solar with Central Hudson Gas & Elec Corp? You can use our Solar Cost Calculator to generate a customized estimate instantly. We take into consideration a wide range of criteria including location, electric bill, roof size, and other factors. Try it out today and start planning for your future.
