It applies to you even if you went solar with a lease or ppa.
Solar rebates ny 2018.
25 new york state tax credit.
The credit is equal to 25 of your qualified solar energy system equipment expenditures and is limited to 5 000.
Loan amounts are available from 1 500 to 25 000 with loan terms of five 10 or 15 years to help new york residents finance solar installation.
However any credit amount in excess of the tax due can be carried over for up to five years.
Check out the top utility net metering programs in new york.
First you don t have to purchase your system to claim the credit i e.
Rebates are processed in the order in which they are received and can take up to 4 to 6 weeks for processing.
New york offers a state tax credit of up to 5 000.
The federal government provides a solar tax credit known as the investment tax credit itc that allow homeowners and businesses to deduct a portion of their solar costs from their taxes.
The solar energy system equipment credit is not refundable.
For people who purchase solar systems in new york they are given a credit worth 25 of their system cost or 5 000 whichever is less.
Download new york state forms and instructions.
New york s system equipment credit is one of the best state tax credits available for solar.
On bill recovery and smart energy loans.
Community solar is not eligible for the new york state personal tax credit.
For instance if your system costs 15 000 you d be able to take a 3 750 tax credit on your state taxes.
New york city property tax abatement.
You can also call our energy efficiency hotline at 800 995 9525 and ask for a rebate form to be mailed to you.
Solar is exempt from property tax and sales tax.
The new york solar tax credit can reduce your state tax payments by up to 5 000 or 25 off your total solar energy expenses whichever is lower.
New york state tax credit.
New york state solar equipment tax credit.
For you to claim the new york state personal tax credit the system must be installed at your personal residence.
In addition to incentives ny sun offers two loan options for residents.
The great advantages of the solar equipment tax credit are twofold.
Arizona and massachusetts for instance currently give state income tax credits worth up to 1 000 toward solar installations.
New york s residential solar tax credit is equal to 5 000 or 25 percent of the cost of your solar system whichever is less.
