New York State PV Rebate
$0.40 per watt up to 25 kilowatts (maximum rebate of $15,000) of installed solar photovoltaic (PV) system per site/meter.
New York State Tax Credit
25% of installed costs for solar PV and solar hot water systems (each) capped at $5,000
Federal Tax Credit
30% of the installed costs for a solar PV system and hot water system (the 30% is calculated from the after-NYSERDA rebate cost ).
Property Tax Exemption
There is a 15-year exemption for any increase in the assessed value of your property as a result of installing renewable energy upgrades.
Solar Sales Tax Exemption
All sales and installation costs on solar PV and solar hot water systems are exempt from state sales tax (4%). Some counties are also exempt from sales tax.
New York Net Metering
According to the “Solar Choice Act of 1997”, all NY electrical utilities must buy back any excess electricity that a residential solar PV system produces and compensate the owner of that system.
What is an Incentive?
Incentives are created to encourage homeowners and business owners to invest in renewable energy systems and insulation by bringing down the cost by offering rebates, grants, tax credits and other programs. We’ve listed some of the incentives for renewable energy systems available from the Federal government and New York State. To see a complete list of incentives for New York and other states please visit www.dsireusa.org.
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Chatham, NY 12037
T: 518.392.4000 F: 518.392.8191
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