LIPA suspends rebates for residential installations

LIPA suspends rebates for residential installations 09/09/2013 The Long Island Power Authority has run out of money in its solar residential rebate fund. Over the course of the last few months LIPA has lowered the rebate given to customers who installed solar on their homes almost on a weekly basis. The last rebate offered was at 55 cents a watt. For a maximum of $5,500 to the customer who installed a 10 kilowatt system. That’s now gone. But there’s no reason to panic if you want to install solar and fear that without the rebate you can’t do this… the government steps up here. They give you back 30% of the net cost of the system, so now that the rebate is gone from LIPA the net cost of the system goes up, thereby making the federal rebate higher. You also still get 25% of the net cost of the system back in state credits, for a maximum of $5,000. So, even though the LIPA rebate is no longer around for the rest of 2013 you’re still looking at saving quite a bit on your system in tax credits. The future of the LIPA rebate program is uncertain. We’ll let you know if it’s reinstated when they let us know. Did you hear that electric rates have risen for the second time this summer? You’ll see an increase in your monthly bill by around 8.7% in September. Stop the panic that comes with each rate increase. Install solar and your bill could be virtually eliminated. In the meantime, the sun continues to shine and SUNation wants to help you lower your electric bills. We are offering installation packages to fit every budget. Give us a call today and get more information.