Ny State Solar Panel Incentives

When pairing energy storage and solar you may be eligible for an energy storage incentive in addition to the current ny sun solar incentive.

Ny state solar panel incentives. The megawatt block incentive structure. To encourage the continued expansion of solar governments utilities and other organizations offer solar tax breaks and financial incentives to make solar more accessible for today s homeowners. To find out what incentives you may be eligible for find a participating contractor in new york state. It is the only program that allows you to own your solar system while paying for the cost through your electric bill.

New york s megawatt block incentive is a direct generous incentive for solar. There are several ways to get solar for your home. Own a solar system through your current electric bill. What are the best new york state solar incentives.

Ny sun helps make solar energy more accessible and affordable for residential customers. The solar energy system equipment credit is not refundable. We offer financing and incentive options for new york residents looking to go solar including. 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.

How solar works for you. Solar power offers homeowners and renters many benefits including. New york net metering. Net metering is a crucial policy that ensures you get paid a fair price for the solar electricity.

However any credit amount in excess of the tax due can be carried over for up to five years. As a result you can reduce the net cost of your solar panel system by anywhere from 26 to 50 percent. The credit is equal to 25 of your qualified solar energy system equipment expenditures and is limited to 5 000. It s simple and you get to own your system with 0 down.

Over 86 000 homes in new york state are powered by solar energy. Ny solar sales tax exemption in 2005 new york state enacted legislation that would exempt the sale and installation costs of residential solar systems from the state sales tax. Solar is more accessible and affordable than ever before. In addition to incentives ny sun offers two loan options for residents.

This exemption would allow systems that cool heat and or provide electricity to residences to benefit from tax exemption on those costs. On bill recovery and smart energy loans. 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 incentive and financing options your business may qualify for federal and or new york state tax credits and rebates for getting solar.

New york state offers a unique on bill payment plan for people looking to go solar.