Solar Incentives Nyc

The state offers a balanced mix of good solar incentives and relatively high electricity prices that makes home solar in new york a very attractive financial investment.

Solar incentives nyc. Learn how you can benefit from new york s solar incentives rebates tax credits today. New york solar power overview. As a part of its ambitious reforming the energy vision initiative 2 new york is making solar accessible to households across the empire state. The abatement is divided into annual 5 installments over a four year cycle.

Providing homeowners and renters the information needed to make informed decisions about solar. You can write off 25 or 5 000 of the cost on your new york state taxes in addition to the 26 federal tax credit. What are the solar incentives available to new york homeowners. Thanks to rebates solar tax credits and exemptions new yorkers could earn back up to 40 on the up.

As of august 2020 the nyc pta has been extended until 2023. If you live in new york and are thinking about going solar you should know that thanks to the many financial incentives available 2020 is an excellent year for you to install solar panels but don t wait government financial incentives are decreasing. 20 of solar system costs can be claimed as a local property tax abatement with the nyc department of finance. Other new york solar programs and incentives the ny sun initiative.

While the average american is responsible for approximately 19 metric tons of co2 emissions per year the average nyc resident is responsible for less than a third. What solar incentives are available in new york city. That means you can expect a rebate of 1 500 1 750 on a 5 kw system. Despite being the most populous and densely packed city in the country new york city is actually quite energy efficient.

You will need to work with a nyserda approved participating contractor to find out if you are eligible for ny sun incentives. Incentives are provided directly to your selected contractor and vary throughout the state. Nyc solar property tax abatement. The state of new york will reimburse you 0 35 per solar watt you install.

Ny sun in conjunction with nypa also provides the backbone for the state s community solar and k solar programs. Providing a range of offerings to make going solar more affordable. 3 nys tax credit. 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.

Through the ny sun pv incentive program new york residents statewide are looking at rebate rates of 300 350 per kw on solar installations up to 25 kw. New york is a top 10 solar state 1 and for good reason. Incentives and financing for your home and business.