Solar Panel Rebates In Ny

Ny sun makes going solar easier and more affordable for new york residents.

Solar panel rebates in ny.

The program provides an up front dollars per watt w rebate for both commercial and residential solar panel systems. How much is the credit. New york is a top 10 solar state 1 and for good reason. The credit is equal to 25 of your qualified solar energy system equipment expenditures and is limited to 5 000.

New york has long been a leader in installed solar capacity. The solar energy system equipment credit is not refundable. The tax break reduces. 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.

All of the financial benefits listed below go to the owner of the solar panel system. The biggest advantages in new york for installing solar panels are the big state and federal tax credits that can wipe out over half your cost to go solar in under 1 year. An average sized residential solar system about 400 square feet of solar panels costs 18 000 according to the solar energy industries association an industry group. Solar is exempt from property tax and sales tax.

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. If you buy your system in cash or with a solar loan that means you also get the tax credits rebates and srecs for the system however if you lease your system the third party owner will receive all of the solar incentives. As a part of its ambitious reforming the energy vision initiative 2 new york is making solar accessible to households across the empire state. Detailed information on available incentives and loans for residential customers going solar.

Guidance on determining federal and or new york state tax credit eligibility. The system must also be installed and used at your principal residence in new york state. Solar incentive and financing options. We offer incentives and financing options to lower the cost of purchasing and installing solar at home.

If your property isn t ideal for solar panels or you are not a homeowner community solar may be right for you. 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. New york s megawatt block incentive is a direct generous incentive for solar energy available under new york s ambitious ny sun initiative.