Solar Panels Ny Rebate

Solar incentive and financing options.

Solar panels ny rebate.

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. Guidance on determining federal and or new york state tax credit eligibility. The solar energy system must use solar radiation to produce energy for heating cooling hot water or electricity for residential use. 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 but don t wait government financial incentives are decreasing.

Ny sun is a major component of governor andrew m. New york solar power overview. The state offers a balanced mix of good solar incentives and relatively high electricity prices that makes home solar in new york a very attractive financial investment. 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.

New york s megawatt block incentive is a direct generous incentive for solar energy available under new york s ambitious ny sun initiative. The system must also be installed and used at your principal residence in new york state. Other incentives for solar accelerated depreciation. 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.

Ready to go solar. Cuomo s reforming the energy vision rev which aims to create a cleaner more resilient and affordable energy system for all new yorkers. We offer incentives and financing options to lower the cost of purchasing and installing solar at home. When it comes to home solar panels new york has long been one of the best places in the country.

The program provides an up front dollars per watt w rebate for both commercial and residential solar panel systems. Detailed information on available incentives and loans for residential customers going solar. If your property isn t ideal for solar panels or you are not a homeowner community solar may be right for you.