Ny Solar Incentives 2018

How much is the credit.

Ny solar incentives 2018.

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. 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. 1 generate revenue by selling net metering credits or.

As a part of its ambitious reforming the energy vision initiative 2 new york is making solar accessible to households across the empire state. 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. Thanks to rebates solar tax credits and exemptions new yorkers could earn back up to 40 on the up. 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.

Ny green bank s rfp 7 is targeted at developers of photovoltaic pv solar projects selling to commercial industrial and other institutional organizations c i in new york state which plan to utilize third party tax equity and seek back leveraged financing for projects that. 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. Ny sun makes going solar easier and more affordable for new york residents. New york is a top 10 solar state 1 and for good reason.

Other new york solar programs and incentives the ny sun initiative. The solar energy system equipment credit is not refundable. 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. The solar industry is growing at an unprecedented rate providing emissions free power opportunities for all sectors.

The system must also be installed and used at your principal residence in new york state. Ny sun works directly with solar contractors and developers to offset the cost for new york residents to go solar. Learn how you can benefit from new york s solar incentives rebates tax credits today. Other incentives for solar accelerated depreciation.