If you live in New York, your state government is about to send you money. No application needed. The State's newly enacted 2026-2027 budget includes $1 billion in POWER Checks (Protecting Our Wallets Energy Rebate) aimed at giving New Yorkers relief from some of the highest utility rates in the country. Assembly Speaker Carl Heastie and Energy Committee Chair Didi Barrett announced the program on May 27, 2026. Checks go out automatically to residents from September through December 2026, based on your 2024 tax return:

• $200 for joint filers earning under $150,000
• $150 for joint filers earning between $150,000 and $300,000
• $100 for single filers earning under $150,000

Nice, right? That’s real money. But for most New York households, that only covers about a month of electricity costs. Your utility bill hasn't changed. Your rates haven't changed. And next year, there's no POWER Check coming.

Why utility bills keep rising in New York

The POWER Check exists because ConEd rates have been climbing steadily, and New Yorkers pay among the highest electricity rates in the country. Homeowners without solar see an average annual increase of 4% on their electricity bills. Over time, those increases compound significantly.

Solar addresses the underlying problem rather than the symptom. Most Mpower Solar customers see their monthly electricity costs drop dramatically—often by hundreds of dollars —and those savings continue for the life of the system, typically 25 years or more. Over that period, the total savings can reach tens of thousands of dollars.

The tax incentives available to New York solar customers

Beyond long-term bill reduction, New York City homeowners have access to a substantial set of tax incentives. When stacked correctly, these programs can reduce the net cost of a solar installation by more than half:

• New York State's Solar Energy System Equipment Credit returns an additional 25%, up to $5,000 of solar installation costs (claimed when you file your state taxes.) 
• The NYC Property Tax Abatement can reduce your property taxes by up to 30% over four years (applied for by your solar installer and automatically deducted from your tax bill.)
• Net metering credits you for excess power your panels send back to the grid

Our full guide to New York solar incentives and tax credits covers every program available to NYC homeowners in 2026. Once your system is installed, our guide on how to claim your New York solar tax credits walks through the filing process step by step.

What to do with your POWER Check

Cash it—you've earned it. But if rising utility costs are a recurring concern, a one-time payment only goes so far. As Mpower Solar CEO Lavie Popack noted earlier this year, “2026 is shaping up to be a turning point for solar adoption in New York City, driven by the combination of rising ConEd rates and strong available incentives.”

If you want to see what your actual monthly savings could look like, get a free quote from Mpower Solar.

Further reading: 

• Guide to Con Edison Rate Hikes: What NYC Homeowners Need to Know
• 5 Real Financial Reasons It Makes Sense to Go Solar in NYC
• How to Claim Your New York Solar Tax Credits
• New York Solar Incentives: Why This State Is the Best Place to Go Solar in 2026