Installed Cost (assumes $4.75/watt)                              $23,750

LIPA Rebate (at $
1.75/watt)  or up to 50% of install     -$8750

Cost to Customer                                                           $15,000

NYS Tax Credit (25% of subtotal)                                 -$ 3

Federal Solar Tax 30% Credit                                        -$4

Final customer investment =                                           $6750

Years to recoup investment                                          5 years
For example:
How much does a 5000 watt PV system cost?
Annual production of 6323 KWHs.
Savings of $1328.00 annually on your LIPA bill!
Extends for the next 8 years a 30% tax credit for residential and commercial solar
Eliminate the flat $2,000 cap for residential solar electric installations, replacing it with
a 30% tax credit effective for qualified renewable energy systems installed after
December 31, 2008.
Eliminates the prohibition on utilities from benefiting from the credit
Allows Alternative Minimum Tax (AMT) filers, both businesses and individuals, to take
the credit
Authorizes $800 million for clean energy bonds for renewable energy generating
facilities, including solar

IRS Form 5695 for Residential Energy Tax Credits