With all of the incentives from the government and utility companies, implementing renewable energy systems will become increasingly affordable for all types of buildings; residential, commercial and public.
- In Long Island, incentives from LIPA combined with State and Federal tax credits can reduce the cost of an 8.1 kW solar pv system by 75%. At this reduced cost, the payback period is about 5 years.
- The number of solar installations in New York has risen dramatically with recent incentives from government agencies and utilities. The NYSERDA incentive program for implementing residential and commercial solar pv systems has helped fund over 2,700 installations as of 09/2009 (1,100 as of 06/2009). These installations will provide over 23,000 kW-DC of energy capacity (8,000 as of 06/2009)