The current incentives in place to go solar are quite lucrative in New York State, for both commercial and residential applications.
Breweries are eligible for an incentive from NYSERDA, which is a grant based on solar array size. That incentive is applied directly to the gross cost of an installation, reducing the invoice amount. Commercial solar applications would also be eligible for a 26% Federal tax credit and advanced depreciation. When you combine those incentives with the monthly electric savings, we see a typical payback under five years! While system sizes vary greatly for commercial applications, the 10% discount would save an additional $5,000 – $10,000, or more, for most breweries.
The incentives for residential solar customers are slightly different. While homeowners will still be eligible for the up-front incentive from NYSERDA and the 26% Federal tax credit, there is no depreciation in place for a residential solar installation. To replace the depreciation incentive, there is a NYS tax credit instead. This NYS tax credit is 25% of the system cost, up to $5,000. These three incentives knock off more than half of the system cost and lead to a typical payback period of 7-9 years. The 10% discount for an average home would save another $2,300 on installation costs, shortening that payback period.
You can receive a free, fully customized, quote for your brewery or any employee who is interested in learning more. Virtual consultations are available to fully explain the customized proposal, complete with site plan(s), pricing, payback period and equipment information. Informational webinars are also available for you and your employees. Solar Liberty is extending a 10% discount to all NYS craft breweries and employees.