Net metering is a billing mechanism that credits solar energy system owners for the electricity they export to the grid at the same rate that they would have paid for it. For example, if a residential customer has a PV system on their roof, it may generate more electricity than the home uses during daylight hours. If the home is net-metered, the electricity meter will run backwards to provide a credit against what electricity is consumed at night or other periods when the home’s electricity use exceeds the system’s output.
VDER stands for the Value of Distributed Energy Resources. It is New York’s attempt to evolve beyond Net Metering and is both more sophisticated and more complex than Net Metering. The VDER Calculator models exports to the electric grid for any solar and/or solar and storage system in New York and generates the estimated value of that exported electricity for the next 25 years. The values vary based on the components of the Value Stack including where the electricity is exported, when it is exported, and the environmental benefits of the electricity. VDER rates can be either higher or lower than Net Metering rates and depend on the individual system being evaluated. Accord Power can help you decide what the best choice for your circumstance will be.
Solar Energy Systems installed in 2024 are eligible for 30% of the system cost in federal tax credits. In New York, homeowners and commercial property owners are also incentivized by NYSERDA rebates (and state tax credits capped at $5,000 for homeowners), and in New York City, property tax abatements are also available, which combined can pay for more than an additional 25% of the system cost within the first year.
In NJ, as part of the SuSI program, you will receive between $70 and $120 per MWh produced over 15 years depending on the size and type of the solar energy system installed. However, state incentives are always changing. That means there’s never been a better time to go solar than now!
New York City passed Local Laws 92 & 94 in November of 2019 as part of the Climate Mobilization Act. Local Law 92 refers to new construction in New York City, while Local Law 94 concerns existing buildings that are undergoing certain kinds of retrofits. The laws require the owners of new buildings or existing buildings to install either Green Roofs or Solar. All new buildings are covered if they can fit at least a 4kW solar array (approximately 300 sq. ft. of usable roof space). Existing buildings are required to install either a Green Roof or Solar if they add roof space or completely replace the roof (not just install a new membrane). There are some exceptions and some loopholes, but the intent of the Laws is to require building owners to create sustainable roofing systems wherever practical if they are doing any significant roof creation, expansion or rebuilding. Our solar experts can help guide your compliance process.
Local Law 97 requires buildings in New York City that are larger than 25,000 square feet to reduce their emissions by 2024 if they are above specific limits. The law also applies to two or more buildings on the same lot that combine to exceed 50,000 square feet. Condo associations that are larger than 50,000 square feet are also included.
Fines are based on emissions reductions from baseline numbers reported previously.
One helpful resource is the NYC Accelerator that can assist building owners, property managers and developers with one-on-one support. This a free resource funded by the Mayor’s Office of Climate & Environmental Justice.
Buildings are subject to fines of $268 per ton of CO₂ equivalent over the building’s limit in 2025 and for every year after that. The limit for each building is determined by the building type, its associated CO₂ equivalent emissions and its size in square feet. If a building’s actual CO₂ equivalent emissions are above the building’s limit, each additional ton of CO₂ incurs a $268 penalty.
In addition to saving money on your electric bill with a solar energy system, going solar will help reduce and possibly eliminate Local Law 97 fines for your buildings. If your building is above its emissions limit, every 10,000 square feet of usable roof space for solar could save you over $14,000 per year in LL97 fines. Contact us today to see how much you can avoid in fines.
Solar panels from Accord Power will not damage your roof. Our installation team attaches the panels using methods that do not void roofing warranties. In fact, when solar panels are installed over shingles, they are better protected from the elements and everyday wear and tear. By extending the life of your roof even a few years, solar will put more savings in your pocket!
Our monitoring systems will help you actively oversee the performance of your system. You can check real-time production, find the exact location of any problems, get email alerts, and track your production data. You are in complete control!
The system works exactly as they described it would. This company’s honesty is the main reason why I chose to go green with them.
Over the last five years, I’ve had the pleasure of working with Accord Power on more than a dozen innovative solar and storage projects in New York City, primarily on multifamily affordable housing. Their team is organized, communicative, and solution-oriented. Whether it’s a straightforward ballasted installation or a rooftop canopy with an energy storage system, they always go the extra mile and get the job done right.
The team was excellent, they walk the extra mile to make sure everything was completed correctly, work with me to accommodate any extras or not extras!! Thank you, Melida
Accord Power made going solar seem effortless. They responded to all of my questions very quickly and made me feel confident in the process. There was a personal touch every time I had to talk to someone at this company!
Accord Power was highly professional throughout the process. They helped me understand every aspect of my system and guided me to the best solution. I would recommend going solar with them because of their honesty and expertise!
Thinking about solar? We will provide you a bill analysis and customized solar plan with no obligations. This will contain the information you need to determine if solar is right for your business or home. Let us know more about you by filling out the form and one of our professionals will contact you with more details.