Ny Solar Incentives 2018

The system must also be installed and used at your principal residence in new york state.

Ny solar incentives 2018. Ny sun makes going solar easier and more affordable for new york residents. How much is the credit. The solar energy system equipment credit is not refundable. We offer incentives and financing options to lower the cost of purchasing and installing solar at home.

Other new york solar programs and incentives the ny sun initiative. Ny sun works directly with solar contractors and developers to offset the cost for new york residents to go solar. Thanks to rebates solar tax credits and exemptions new yorkers could earn back up to 40 on the up. Other incentives for solar accelerated depreciation.

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. The credit is equal to 25 of your qualified solar energy system equipment expenditures and is limited to 5 000. 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. Learn how you can benefit from new york s solar incentives rebates tax credits today.

As a part of its ambitious reforming the energy vision initiative 2 new york is making solar accessible to households across the empire state. Ny sun in conjunction with nypa also provides the backbone for the state s community solar and k solar programs. Ny sun is an umbrella program for a number of solar industry support mechanisms in new york state including but not limited to the megawatt block incentive structure. Thanks to accelerated depreciation businesses can write off the value of their solar energy system through the modified accelerated cost recovery system macrs which reduces businesses tax burden and accelerates returns on solar investments qualified solar energy equipment is eligible for a cost recovery period of five years.

Ny sun brings together and expands existing programs administered by nyserda long island power authority lipa pseg long island and the new york power authority nypa to ensure a coordinated well supported solar energy expansion plan and a transition to a sustainable self sufficient solar industry. The solar industry is growing at an unprecedented rate providing emissions free power opportunities for all sectors. In 2018 pennsylvania has over 354 megawatts of solar power generation installed at nearly 19 000 homes farms and businesses and nearly 5 000 people employed in the solar energy field. Toolkit provides guidance for projects on brownfields and landfill sites and supports new incentives under the ny sun megawatt block program august 22 2018 the new york state energy research and development authority nyserda today announced the newest chapter of the new york solar guidebook the municipal solar procurement toolkit.