Solar is skyrocketing in New York City, with prices falling as interest increases and the number of solar installers multiply, according to the New York Times.
City, state and federal incentives can halve the cost of rooftop solar systems that cost $20,000 to $50,000, the Times reported.
“Five solar installers were operating in the five boroughs in 2005, but by 2015, the number had increased to about 55 companies, employing about 2,700 workers,” the newspaper reported.
Consider the case of Daniel Benedict, who spent $1.7 million on nine solar systems on nine apartment houses in Brooklyn, Queens and the Bronx.
“Solar is great for long-term owners,” he said. “I’m saving 70 percent on my annual electricity bill.”