Q) What is Net Metering?
A) At times, your Solar Panels may generate more electric energy than your house is consuming. When this occurs, the electric meter will spin in reverse. The excess electricity is returned to the system. At the end of each month, the net metered customer is billed only for the net consumption, that is, the amount of electricity consumed, less the amount of electricity produced.
Q) Is there any financing available?
A) Absolutely! We can offer you various financing solutions to meet your particular needs.
Our most popular option is the Smart Energy Loan which is a New York State sponsored program offering a low 3.49% rate. The Smart Energy Loan allows you to finance the cost of your project and pay back the loan with the savings generated by your solar panels!
Q) How long will the solar panels produce electricity for?
A) All of the equipment we install is warrantied for a minimum of 25 years!
Q) Are there any tax incentives available?
A) There are tax incentives available on both the state and federal level.
- Federal Tax Incentive: The federal tax incentive will cover 30% of the cost of your project.
- State Tax Incentive: The state will cover 25% of the cost of your project with a $5,000 cap. Hurry this, this may be the last year this incentive is available.
Q) How much does it cost to go solar?
A) The price of going solar can range widely, depending on many factors - particularly the size of the system and how much electricity you use. However, with Green Team LI's financing options and competitive pricing, you will be able to pay for your project for less money than you're currently spending on your electric bill
Q) Are there untility incentives available?
A) Yes, the following incentives are available. Solar incentives in New York are based on the size of the solar system being installed on your home. For every Watt that is installed, you will get a discount that is applied to the cost of your system. The average system size in this are is 7,000 Watts.
- Con Ed: $0.60 per Watt (DC)
- Low Income: $0.40 per Watt (DC)
I signed up for an audit at the Smithtown Day festival. They came and did the audit and were very nice. They insulated my attic and changed all my light bulbs. I can't wait to see my savings this winter.