New York State Solar Incentives 2017

In addition to incentives ny sun offers two loan options for residents.

New york state solar incentives 2017.

Trust the experts for a hassle free experience. 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. 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. Solar is exempt from property tax and sales tax.

Federal solar tax 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. It is the only program that allows you to own your solar system while paying for the cost through your electric bill. New york governor andrew m.

The system must also be installed and used at your principal residence in new york state. 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. It s simple and you get to own your system with 0 down. 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.

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. That means you can pocket the extra 4 state sales tax you would normally pay when you buy a home solar system and battery. New york state has a great solar rebate program under the new york state energy research and development authority nyserda ny sun program. The credit is equal to 25 of your qualified solar energy system equipment expenditures and is limited to 5 000.

Cuomo has established a 1 billion incentive program to encourage more residential and commercial solar installations. It also means any investment will pay for itself more rapidly. On bill recovery and smart energy loans. The solar energy system equipment credit is not refundable.

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. How much is the credit. 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.