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Max Joel - NY Community Solar Confluence Presentation
This document discusses the costs and savings of installing photovoltaic (PV) solar arrays on buildings in New York City. For a 5 kW residential system costing $35,000, various incentives including rebates and tax credits can reduce the cost to $8,750. The system would produce 5,750 kWh annually, saving $1,200 per year at $0.21 per kWh, resulting in a 7.3 year payback period. For a larger 25 kW system on a non-profit building costing $150,000, incentives reduce the cost to $112,500, and it would save $6,000 annually over its 30-40 year lifespan.
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Max Joel - NY Community Solar Confluence Presentation
- 2. Picture of Photovoltaic system kips bay -‐ Solar Energy Incentives in New York City
- 3. 500 sq. ft. 5 kilowatt PV array
- 4.
- 5. 60 -‐ 100% reduction on Utility payments
- 6. PV Cost 5 kW = $35,000 ($7/watt)
- 7. PV Cost $35,000
- 8. PV Cost $35,000 NYSERDA PV Rebate -‐ $7,500 $27,500
- 9. PV Cost $35,000 NYSERDA PV Rebate -‐ $7,500 30% Fed Tax Credit -‐ $8,250 $19,250
- 10. PV Cost $35,000 NYSERDA PV Rebate -‐ $7,500 30% Fed Tax Credit -‐ $8,250 25% NYS Tax Credit -‐ $5,000 $14,250
- 11. PV Cost $35,000 NYSERDA PV Rebate -‐ $7,500 30% Fed Tax Credit -‐ $8,250 25% NYS Tax Credit -‐ $5,000 20% NYC Solar Property Tax -‐ $5,500 Abatement (4 Years) $8,750
- 12.
- 13. Annual Savings Annual Production: 5750 kWh
- 14. Annual Savings Annual Production: 5750 kWh Cost per kWh: $0.21 kWh
- 15. Annual Savings Annual Production: 5750 kWh Cost per kWh: $0.21 kWh $1200
- 16.
- 17. Payback $8,750 7.3 years = $1,200
- 18.
- 19. Non-‐profit building 25 kilowatt PV array
- 20. PV Cost $150,000 NYSERDA PV Rebate -‐ $37,500 $112,500
- 21. Annual Savings Annual Production: 28,750 kWh Cost per kWh: $0.21 kWh $6000
- 22. Payback $112,500 18.75 = $6,000 years
- 23. Max Joel Picture of Photovoltaic system kips bay -‐ Director, Energy Connections Program Solar One [email protected] 646-‐576-‐5673