Solar Rebates In Ny

Abatements are applied after the ny sun incentive and capped at.

Solar rebates in ny.

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. 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. New york s megawatt block incentive is a direct generous incentive for solar energy available under new york s ambitious ny sun initiative.

The program provides an up front dollars per watt w rebate for both commercial and residential solar panel systems. Ny sun works directly with solar contractors and developers to offset the cost for new york residents to go solar. 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 city property tax abatement pta.

At the end of 2020 the amount of the credit will decrease from 26 to 22 of the cost of the solar installation. Solar is exempt from property tax and sales tax. The system must also be installed and used at your principal residence in new york state. Federal tax credit state tax credit federal solar tax credit.