Solar Rebates In Ny

The program provides an up front dollars per watt w rebate for both commercial and residential solar panel systems.

Solar rebates in ny.

Abatements are applied after the ny sun incentive and capped at. New york city property tax abatement pta. The system must also be installed and used at your principal residence in new york state. The most significant incentive to install solar panels for homes and businesses is the federal solar tax credit.

New york s megawatt block incentive is a direct generous incentive for solar energy available under new york s ambitious ny sun initiative. Ny sun makes going solar easier and more affordable for new york residents. At the end of 2020 the amount of the credit will decrease from 26 to 22 of the cost of the solar installation. 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.

Solar is exempt from property tax and sales tax. 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. The solar energy system must use solar radiation to produce energy for heating cooling hot water or electricity for residential use. New york solar incentives tax credits.