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New York state offers some of the most generous incentives in the United States.
As soon as solar is installed, you’ll begin to see a return on your investment thanks to generous incentives in New York state along with some help on the federal level. It's easier than ever for both homeowners and businesses to go solar with no upfront investment.
A rebate based on the size of the system, typically accounting for 10-20% of the installed system cost.
Allows a household below a certain income level to double the NY-SUN incentive.
All solar systems connected to the electrical grid may sell extra power back to their utility as credits for later use.
For residential systems only, you may be eligible for a 25% tax credit up to a maximum of $5,000.
In parts of the state that have not opted out of this program, solar equipment can be purchased without paying any sales tax.
Commercial properties can deduct 85% of the value of the cost of a solar energy system from their taxes over a five-year period.
Originally slated to expire in 2016, the 30% federal tax credit for both residential and commercial solar has been extended until 2019. That will scale down to 26% in 2020 and 22% in 2021. After that, homes will no longer be eligible for a federal tax credit at any level. Luckily for them, businesses will still qualify for a tax credit at 10% from 2022 onwards.
The Megawatt Block Incentive Structure (Megawatt Block) is one of New York’s most important solar incentives. The program provides strong subsidies for both commercial and residential rooftop solar energy systems. The Megawatt Block Incentive provides generous up-front discounts for solar energy systems, delivered in a ‘dollar-per-watt’ ($/W) format.
We can help you navigate all of these programs to determine your eligibility and what the incentive amounts would be. Contact Us To Know More.