This week, the New York Power Authority announced that it was joining the Municipal Electric Utilities Association and the New York Association of Public Power to establish a new solar incentive program.
The program is intended to help the state meet the goal of deriving 45 percent of its electricity from renewable sources by 2015. Under the plan, people who add a photovoltaic system up to 10 kilowatts to their home or business will be eligible to have up to 50 percent of the installed cost paid for.
"In these difficult economic times, it is critical to do everything possible to alleviate the burden on New Yorkers coping with high electricity costs," said Richard Kessel, CEO of the New York Power Authority.
Other utilities across the country have unveiled their own efforts to encourage more solar investments, which can pay off even more quickly when combined with state and federal tax incentives. Another factor benefiting people interested in solar energy investments is the falling price of photovoltaic panels.
