Tax Incentives for Going Solar in New YorkGo GREEN Save GREEN
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.
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.
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