Tax Incentives for Going Solar in New York

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Residential Solar Tax Incentives

NYSERDA’s Solar PV Incentive Program provides incentives that can reduce our customer’s out of pocket cost. System owners may qualify for up to 30% federal and 25% (up to $5,000) New York State tax credits (for primary residences only). Always consult with your qualified tax professional or accountant to determine your eligibility for tax credits. NOTE: Information provided by nyserda.ny.gov

NY-Sun Incentive Program

NY-Sun provides financial incentives for installing a solar electric system through a NYSERDA participating contractor. A properly sized and installed system can provide a significant percentage of your electric needs. In addition to the existing program incentives, the NY-Sun Incentive Program offers low-interest rate financing options, through Green Jobs – Green New York*, for residential buildings with four or fewer dwelling units and commercial buildings that are used by small businesses or not-for-profit organizations.

Financing Options

For residential customers, loans are available for up to $13,000, or up to $25,000 with higher cost-effectiveness standards, with repayment periods of 5, 10, or 15 years. For small business and not-for-profit organizations, Participation Loans of up to $100,000 at half the market interest rate and On-Bill Recovery loans of up to $50,000 at 3% interest are available, with repayment periods of up to 10 years.

 

Visit NY-Sun Initiative website for more details.

Solar Tax Incentives

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