Solar, for Co-ops and Condos
Most Brooklyn homeowners live in multi-family co-ops, condos. Whether for shared common area demand only or for individual unit consumption, BSW can offer different solar models that match your board’s specific goals and priorities. And since multi-family residents and property owners can take advantage of the same local, state and federal tax credits available to single-family homeowners, solar offers an impressive return while boosting overall property value.
Value
Strong public incentives and sky high electricity rates make NYC one of the best solar markets in the country. Rebates and tax credits can cover up to 70% or more of gross costs for most projects.
Learn More
For full details scroll over the different incentives.
Federal Solar Income Tax Credit
30% of solar system costs can be claimed as a federal income credit. The total credit can be divided among shareholders and owners on a unit equity basis. The credits can be divided over multiple tax years if a client is unable to fully utilize it in a single year.
This credit will decline to 26% on January 1, 2020, 22% in 2021, and then terminate in 2022.
Your Out-of-Pocket Cost
Up to 70% Covered
NYC Solar Property Tax Abatement
20% of solar system costs can be claimed as a local property tax abatement with the NYC Department of Finance. The abatement is divided into annual 5% installments over a four year cycle. The NYC PTA is set to expire on December 31, 2020.
NYS Solar Income Tax Credit
Co-ops and Condos can claim a 25% tax credit against their building’s solar investment. This credit can be divided among individual shareholders or owners on a unit equity basis, and can also be spread out over multiple tax years if an individual is unable to fully utilize it in a single year.
NYS Solar Rebate
New York State residential solar projects receive a rebate that reduces their upfront contract price. The rebate declines over time based on the amount of solar installed in different regions of the state. For residential projects in New York City, the state rebate is currently $.30 per Watt of solar installed which reduces out of pocket costs by roughly 5%.
Federal Solar Income Tax Credit
Your Out-of-Pocket Cost
Up to 70% Covered
NYC Solar Property Tax Abatement
NYS Solar Income Tax Credit
NYS Solar Rebate
Let’s Talk
Ask Us About:
- NYS’s special rebates for low and moderate income buildings, including HDFC co-ops.
- Special additional rebates for solar canopies on multi-family buildings.
- How individual unit’s can realize electricity bills savings through community solar.
4-5 Years
Let’s Talk
Ask Us About:
- NYS’s special rebates for low and moderate income buildings, including HDFC co-ops.
- Special additional rebates for solar canopies on multi-family buildings.
- How individual unit’s can realize electricity bills savings through community solar.
Investment Security
LG solar panels come with an industry leading 25-year product warranty, as well as a production guarantee that ensures that panels will generate at least 89% of year 1 production (kwh) by the end of the 25-year product warranty period.
The SMA Sunny Boy inverter, an industry leading product and BSW’s go to inverter, is covered by a 20-year extended warranty.
BSW offers a 10 year warranty on all materials and services performed, including roof penetrations. Any necessary repairs required during that period will be promptly performed at BSW’s expense.
BSW guarantees that solar systems will produce at least 95% of the projected estimates that are included in your contract during the first 10 years of the system’s operating life. If annual system production falls below this guarantee BSW provides cash compensation for underperformance. This is offered by BSW in addition to LG’s power production guarantee.
All BSW installed systems automatically report performance data every few minutes to our monitoring staff, who will be notified of any irregularities. The monitoring team actively reviews system performance data monthly to ensure system is producing as designed. All customers can also track performance data themselves on their, computer or tablet via their individual monitoring portal.
Completion Timeline
Average project completion time from contract signing: 2-3 Months
Scroll over project steps for full details.
Assessment & Proposal
Project Initiation
(1 Month)
Permit Application
(1 Month)
System Installation
(1-3 Days)
Inspection & Meter Swap
(2 Weeks)
Tax Season
Assessment & Proposal
BSW survey specialist completes 1-hour home assessment; You review project proposal with BSW solar consultant, and discuss tax credit eligibility with your accountant
Project Initiation
(1 Month)
You choose solar system size, sign contract, pay $3,000 down payment; BSW drafts project plan set and completes professional engineering review.
Permit Application
(1 Month)
BSW submits stamped plan set and building and electrical permit application to NYC Department of Buildings; awaits approval.
System Installation
(1-3 Days)
You schedule convenient day/time & pay remaining installation fee; BSW orders equipment, installs solar system at your home.
Inspection & Meter Swap
(2 Weeks)
BSW schedules ConEd meter swap and DOB electrical and building inspections; You provide access for swap and inspections (1 hour each).
Tax Season
BSW supplies state and federal tax forms; You claim our solar tax credits (& repay bridge loan if needed)
Anatomy of a Solar System
Residential solar systems are surprisingly simple, consisting of only a few main components located on the roof and in the basement. BSW’s experienced installation team can complete a typical project in just one day with minimal disruption to your home and routine.