Electricity Rates in New York

There are 103 companies in New York offering electricity. Of those 103, 14 of them offer some type of net metering option for their consumers, making solar panels and alternative electric sources more economically viable. The state has good net metering and feed in tariffs that make solar and other types of electricity generation more affordable.

There are 22 companies in New York that reported energy loss. Combined, these 22 companies average a yearly energy loss of 1.52% of electricity produced. The United States average for energy loss is 2.43%, resulting in a rank of 7th best in the US for New York in this category.

States that want to encourage solar panel installs at private residences can do this by passing rebates for solar panel purchases and tax incentives. New York offers up to ,an astounding, $5000 state tax credit for solar installation for private residences. The state has rebates of $500 or less available to most consumers. Fortunately, New York offers a 100% tax exemption to consumers.. The state extends a 100% sales tax exemption to anyone who purchase private solar panels. This is a win for people in the state.

Statewide initiatives are a big part of whether customers who are seeking renewable energy sources can easily find alternatives. Many states require green fuels to make up a percentage of the fuel used for electricity production. These stipulations are referred to as Renewable Portfolio Standards (RPS). Electricity companies in the state of New York are required to generate at least 25% of their electrical output using renewable fuel types. Also, the state has a low income solar program in place to enable low income households to install solar panels.