"The utility company announced electricity rates will jump 3.5 percent in 2026, with more increases coming: 3.2 percent in 2027 and 3.1 percent in 2028. Gas prices are heading up too, putting extra pressure on family budgets. But there's a way to dodge these rising electricity costs: solar power. NYC homeowners who install solar panels can offset their ConEd bills by hundreds of dollars each month. Many solar users end up paying just a basic service fee, avoiding most supply charges throughout the year."
"The city wants more homes to make this switch. NYC offers strong incentives that stack together: ● A 30 percent Property Tax Abatement ● $5,000 NY State income tax credit ● 20 percent installation cost coverage for qualifying historic homes ● Net metering to bank summer energy for winter use This combination of incentives helps explain why more New Yorkers are switching to solar now. Net metering is particularly valuable-it lets homeowners store up extra energy credits during sunny months to cover their winter usage."
ConEd electricity rates are rising through 2028 and gas prices are increasing, putting pressure on household budgets. Solar installations can offset ConEd bills by hundreds monthly, with many homeowners paying only a basic service fee and avoiding most supply charges. NYC offers stacked incentives including a 30 percent Property Tax Abatement, a $5,000 New York State income tax credit, 20 percent installation coverage for qualifying historic homes, and net metering to bank summer energy for winter use. The Climate Mobilization Act targets an 80 percent greenhouse gas reduction by 2050, encouraging home electrification with heat pumps, induction stoves, and EV chargers. Typical solar payback occurs in five to seven years, with potential lifetime savings exceeding $80,000.
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