Financing & Incentives For Solar Services

Solar panel installation is on the rise on Long Island, and as more and more homeowners convert their homes to solar energy, the cost is dropping. In fact, the price of solar has fallen more than 50% over the last five years, making it a viable option for more and more Nassau and Suffolk county residents.

For those still on the fence about the upfront costs of solar installation, here’s valuable information about financing and rebate incentives available for solar upgrades through Green Team LI.



The most significant solar incentive currently available is the federal solar tax credit, also known as the federal investment tax credit (ITC). Homeowners and businesses who own their solar systems can deduct 26% of their solar installation costs from their federal taxes due, and can rollover any remaining balance an additional year.

However, homeowners should act quickly—the amount of the tax credit decreases, year-by-year, until it is eliminated completely for residential homeowners by 2022.


On a state level, homeowners in New York can qualify for a Solar Energy System Equipment Credit and take a 25% state tax credit—up to $5,000 which can be carried over up to five years—on purchased or leased solar systems.


There are also a number of different solar financing options available.

  • Mosaic solar panel and solar battery storage loans through Sunpower are structured with a bridge loan and a term loan to help you take full advantage of available tax credits. Many Green Team customers are able to bundle other necessary projects like roof, energy efficiency, and even HVAC improvements into their Mosaic solar loans to take advantage of the unique Mosaic loan structure to get low cost financing for their combination (solar plus other improvements) projects.
  • SunPower’s 20 year leases include little or no interest rate escalation. Leases often make sense when someone does not pay very much federal income tax, including many people who are retired or who have less than average income.
  • Green Team also offers third-party financing loans through other partners that can provide 12-year financing with rates as low as 2.99%, or provide bridge loans for 12 to 18 months with no interest and no payment until you receive your tax refund.
  • Home Equity Lines of Credit (HELOC) are a great option for those that have available equity in their homes. HELOCs typically offer low interest rates, and the interest is usually tax deductible.


When it comes to upgrading your home to solar, it can be confusing to sort through all the different rebates and financing options. What’s the best way to pay for your solar panel system? How can you qualify for the best solar panel savings?

At Green Team Long Island, we’re committed to helping homeowners in Islip, Elmont, Lindhurst, and beyond maximize their solar savings. Not only do we install the best, highest-performing solar panels on the market from SunPower, but we can help you navigate the many ways to make solar upgrades even more affordable for your Long Island home.

Increase your solar savings with tax credits, rebates, and financing. Call 844-370-3322 or contact us to find the best option for you.

Qualify for the most in solar savings.

Learn more about available rebates and financing. 844-370-3322
Please enable JavaScript in your browser to complete this form.

By submitting, you authorize Green Team LI to reach out via phone, email, or text for information about your project needs. We will never share your personal information with 3rd parties for marketing purposes or spam you. You can opt out at any time. Message/data rates apply. Consent is not a condition of purchase. | Privacy Policy

Contact Us

Green Team LI is proud to be the national winner of Energy Star’s Contractor of the Year, four years in a row

Find out what actual Green Team LI customers have to say about us:

I signed up for an audit at the Smithtown Day festival. They came and did the audit and were very nice. They insulated my attic and changed all my light bulbs. I can’t wait to see my savings this winter.

St. James

I must admit that when I completed the LIPA energy audit and found out that an outside company will be doing the audit, I was skeptical. But, as an energy conscious consumer I kept an open mind. My doubts dissapeared from the first contact with your company.I am a businessman ... Read More

East Northport

This company is efficient and professional. Working with everyone involved was a pleasure.

Huntington NY

The workmen were very neat and precise. I was very satisfied. My heating bill is lower by 25%.

East Northport NY

Green Team LI can help you save big on all your home projects

With all of the rebates and incentives available to New York residents, upgrading the energy efficiency of your home has never been more affordable. From tax and utility incentives to state-subsidized low interest financing, Green Team LI can help you qualify for home performance savings.

Green Team LI Can Help You

Save big

On Your Efficiency Project