Solar Panels for Small Business in Brooklyn
Runaway ConEd bills can be an outsize factor for any NYC small business’s bottom line. Solar can both lower energy costs and make them more predictable, while communicating a clear environmental commitment to an increasingly climate conscious public.
Local small businesses also enjoy access to special additional canopy rebates and low cost “on-bill” financing supported by New York State. Ask us about both!
Solar 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.
For full details scroll over the different incentives.
Federal Solar Income Tax Credit
26% 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. The federal solar income tax credit, which was scheduled to drop from 26% to 22% in 2021, will stay at 26% for two more years.
Your Out-of-Pocket Cost
Up to 75% 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. As of August 2020, the NYC PTA has been extended until 2023.
Accelerated Depreciation (MACRS)
Under the federal Modified Accelerated Cost-Recovery System (MACRS), businesses may recover investments in onsite solar energy through depreciation deductions. Most recently, The Tax Cuts and Jobs Act of 2017 increased bonus depreciation to 100% for qualified property acquired and placed in service after September 27, 2017 and before January 1, 2023.
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 $.70 per Watt of solar installed which reduces out of pocket costs by as much as 10%.
All BSW solar systems come with an industry leading 30-year umbrella warranty that covers all aspects of the installation. This is an addition to the comprehensive 25-year panel warranty offered by LG on all panels.
The SMA Sunny Boy inverter, an industry leading product and BSW’s go to inverter, is covered by a 30-year extended warranty.
In addition to the 30-year warranty offered by SolarInsure, 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 the system is producing as designed. All customers can also track performance data themselves on their computer or tablet via their individual monitoring portal.
Average project completion time from contract signing: 2-3 Months
Scroll over project steps for full details.
Assessment & Proposal
Inspection & Meter Swap
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
You choose solar system size, sign contract, pay $3,000 down payment; BSW drafts project plan set and completes professional engineering review.
BSW submits stamped plan set and building and electrical permit application to NYC Department of Buildings; awaits approval.
You schedule convenient day/time & pay remaining installation fee; BSW orders equipment, installs solar system at your home.
Inspection & Meter Swap
BSW schedules ConEd meter swap and DOB electrical and building inspections; You provide access for swap and inspections (1 hour each).
BSW supplies state and federal tax forms; You claim our solar tax credits (& repay bridge loan if needed)
“"From permitting, to install, to service, Brooklyn Solar Works has stood by their work and delivered a seamless experience with our system. Our system has met the promised yield expectations and saved us nearly $4,000 per year in electricity costs."”
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.