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. Ny sun works directly with solar contractors and developers to offset the cost for new york residents to go solar. Other new york solar programs and incentives the ny sun initiative. Ny sun in conjunction with nypa also provides the backbone for the state s community solar and k solar programs.

The system must also be installed and used at your principal residence in new york state. 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. 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. The credit is equal to 25 of your qualified solar energy system equipment expenditures and is limited to 5 000.

The solar industry is growing at an unprecedented rate providing emissions free power opportunities for all sectors. 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. We offer incentives and financing options to lower the cost of purchasing and installing solar at home. Learn how you can benefit from new york s solar incentives rebates tax credits today.

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. Other incentives for solar accelerated depreciation. 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. Ny sun makes going solar easier and more affordable for new york residents.

Thanks to rebates solar tax credits and exemptions new yorkers could earn back up to 40 on the up. As a part of its ambitious reforming the energy vision initiative 2 new york is making solar accessible to households across the empire state. 1 generate revenue by selling net metering credits or. New york is a top 10 solar state 1 and for good reason.