LIPA is revamping its rebate program; transitioning from a capacity-based incentive to an Expected Performance-Based Buydown (EPBB) incentive. The idea is to reward homes and commercial properties with ideal solar-producing conditions with greater rebate dollars than those with marginal conditions, such as shading issues or less than optimal roof positioning.
Starting in March, LIPA rebates will be calculated according to the PV system’s expected performance and not by the system’s KW size alone. For homes with south facing roofs and no shading issues, the maximum rebate will be provided; while those with less than perfect conditions will receive reduced rebates, based on a sliding-scale calculation of performance.
This opens the LIPA rebate program up to many more homes and properties. Previously, the homes with less than perfect solar compatibility did not qualify for the LIPA rebate at all. With the new EPBB program, less than optimal roofs will now receive rebate money – all in proportion to their system’s expected performance.
There are other factors that have made solar energy more affordable – the price for solar modules has come down, the federal tax credit of 30% and New York’s tax credit of 25% are still available as well. The bottom line for solar just keeps getting better and better!