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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 New York State Elec & Gas 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 New York State Elec & Gas Corp does offer?
Category : Financial Incentive
Website : https://www.nyseg.com/wps/portal/nyseg/home/search/!ut/p/z1/lVPbjoIwEP0V92EfsVUuwiNrDMZ4WXUR2xdSoWh3pchN9O-3xX0xUVibJs2kM3POzJkBGGwB5uTM9qRgCSdHYSNs-GpvNhprQzg3Z5oFl5o6dR1nA1VLBd69w2K66MMlnDiW5a7U0UQHuDl-AzDAAS9OxQEgfs3pnuwz_5DE9B3mlGTBQTrkSZkFdJjwgvJinoS
Applicable Sectors : Commercial, Industrial, Local Government, Nonprofit, State Government, Federal Government, Tribal Government, Agricultural, Institutional
Incentive Amount : Lighting LED Replacement Tubes: $6 - $12/unit LED Interior Ambient Fixtures: $25 - $40/unit LED Downlight, Track Lighting, and Wall-Wash Fixtures: $25/unit LED High/Low Bay Fixtures: $55 - $300 LED Refrigerated Case Lights: $5/linear foot LED Exterior Area Fixtures: $90 - $360/unit Lighting Controls: $5 - $30 HVAC Notched & Synchronous Belts: $25 - $100 Steam Trap Survey: Up to $10,000 Steam Traps: $100 - $250/unit Unitary HVAC & Split AC Systems: $40 - $150 Boilers, Furnaces and Unit Heaters: $2 - $3/MBH Boiler Economizer: $2 - $4/MBH Instantaneous Heaters: $250 - $400 EC Motor for Hydronic Circulation Pump: $150 - $2,000 Controls and Thermostats: $75 - $150 Energy Management System (EMS): $150 VFD for HVAC Fans and Pumps: $40 - $60 Industrial Air Curtain: $20 Boiler Tune-Ups: $0.30/MBH Chiller Tune-Ups: $5/ton Kitchen Equipment and Refrigeration Convection Ovens: $500 - $1,000 Conveyor Ovens: $1,000 Combination Ovens: $500 - $2,000 Rack Ovens: $1,250 - $2,500 Insulated Holding Cabinet: $400 - $800 Fryers: $750 - $1,000 Griddles: $350 -$500 Steamers: $2,000 - $2,500 Ice-Makers: $100 - $800 Dishwashers: $100 - $900 Electronically Commutated Motors for Refrigeration Evaporator Fans: $20/unit Anti-Condensation Heater Control for Refrigerated Cases: $40/unit Evaporator Fan Controls: $20/unit Cooler and Freezer Door Strips: $1/square foot Process Systems VSD Air Compressors: $150/hp/qty Refrigerated Compressed Air Dryers: $4/CFM Zero-Loss Condensate Drains: $120/drain/qty Compressed Air Flow Controller: $1,000/unit Compressed Air Low Pressure Drop Filters: $500/filter qty Compressed Air heat Recovery: $50/hp/qty Ozone Generator for Commercial Laundry Machines: $25/qty/washer load capacity Process Exhaust Filtration and Recirculation: $1.25/CFM/qty Agricultural Equipment Fans: $150 - $350 Refrigeration Heat Recovery: $3 - $30 Milk Pre-Cooling System: $5 - $20 Variable Speed Drive: $50/motor 2024 Custom Rebates Electric Savings: $0.20/kWh saved Natural Gas Savings: $1.50/therm saved
Implementing Sector : Utility
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 : https://www.nyseg.com/smartenergy/businesssolutions/smallbusinessdirectinstall
Applicable Sectors : Commercial, Federal Government
Incentive Amount : Energy Assessment: Free Lighting Retrofit: Up to 60% of cost
Implementing Sector : Utility
Category : Financial Incentive
Website : https://www.nyseg.com/smartenergy
Applicable Sectors : Residential
Incentive Amount : Residential Rebate Program Induction Cooktop: $100 WiFi Thermostat: $75 Water Boiler: $250 Furnace AFUE >96 with ECM: $150 Furnace or Boiler Tune-up: $75 ENERGY STAR Natural Gas Dryer Energy Star: $50 ENERGY STAR Pool Pump: $300 Pool Heater: $100
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
Installing and connecting your solar system
When you install a solar system in New York State Elec & Gas Corp territory, these are steps you can expect to go through:
Once you’ve hired a contractor, you will need to communicate with New York State Elec & Gas 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 New York State Elec & Gas Corp customers?
The short and sweet answer is a resounding YES. Going solar is definitely worth it for New York State Elec & Gas 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 New York State Elec & Gas 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.
