New York State Solar Incentives 2017

This rebate incentive is called the megawatt block incentive as the watt rebate amount varies based on which block the incentive is reserved under for different areas.

New york state solar incentives 2017.

If you re a new york state resident interested in filing for a renewable energy tax credit you will need to complete the appropriate forms to submit along with your normal yearly tax filing. In addition to our incentive programs and financing options you may qualify for federal and or new york state tax credits for installing solar at home. That means you can pocket the extra 4 state sales tax you would normally pay when you buy a home solar system and battery. Ny state solar does more solar projects through the ny sun on bill recovery program than anyone else in new york state.

The new york solar tax credit can reduce your state tax payments by up to 5 000 or 25 off your total solar energy expenses whichever is lower. Solar incentives new york has some of the most attractive solar incentives in the country which can reduce the a solar system by as much as 50. Trust the experts for a hassle free experience. In fact according to new york s 2017 solar report card this state is the number one state to go solar.

The solar energy system equipment credit is not refundable. New york solar sales tax exemption the solar sales tax exemption 8 is a welcome addition to the other incentives available in the empire state. Cuomo has established a 1 billion incentive program to encourage more residential and commercial solar installations. The system must also be installed and used at your principal residence in new york state.

Solar is exempt from property tax and sales tax. Loan amounts are available from 1 500 to 25 000 with loan terms of five 10 or 15 years to help new york residents finance solar installation. It is the only program that allows you to own your solar system while paying for the cost through your electric bill. Federal solar tax credit.

How much is the credit. On top of that intrinsic incentive new york has established an aggressive state rebates program for solar which will refund 1 750 per installed kilowatt hour up to 12 500 or 40 percent of the installed cost of your solar project. The credit is equal to 25 of your qualified solar energy system equipment expenditures and is limited to 5 000. New york governor andrew m.

It s simple and you get to own your system with 0 down. New york solar permits increased 26 to 249 in june from 197 in june 2016 and decreased 19 from may 2017 ytd increase of 2 new york solar. In addition to incentives ny sun offers two loan options for residents.