Solar Rebates In Ny

The solar energy system must use solar radiation to produce energy for heating cooling hot water or electricity for residential use.

Solar rebates in ny.

The most significant incentive to install solar panels for homes and businesses is the federal solar tax credit. Ny sun makes going solar easier and more affordable for new york residents. Ny sun works directly with solar contractors and developers to offset the cost for new york residents to go solar. Solar is exempt from property tax and sales tax.

We offer incentives and financing options to lower the cost of purchasing and installing solar at home. At the end of 2020 the amount of the credit will decrease from 26 to 22 of the cost of the solar installation. Building owners who place a grid connected solar energy system into service from january 1 2014 to january 1 2024 are eligible for a four year tax abatement of 5 per year of the installed cost of the system for a total of up to 20. New york s megawatt block incentive is a direct generous incentive for solar energy available under new york s ambitious ny sun initiative.

Federal tax credit state tax credit federal solar tax credit. The program provides an up front dollars per watt w rebate for both commercial and residential solar panel systems. New york city property tax abatement pta. Abatements are applied after the ny sun incentive and capped at.