New York Solar Rebates and Incentives for 2013
The biggest New York solar rebates and incentives are handled through the NYSERDA PV Incentive Program, which processes solar rebates for customers of New York’s major electricity companies who have home PV systems installed. The Program can take up to 40% off the cost of a New York solar panel installation, and income and property tax incentives ensure back-end savings as well.
New York Government Solar Energy Rebates and Incentives
This New York solar incentive allows owners and lessees of residential solar PV systems up to 25 kW (or 50 kW for condominiums and co-op housing) to claim an income tax credit of 25% of the system cost, up to $5,000. Unused portions of this NY solar tax credit can be rolled over for up to five years.
Residential solar electric systems are exempt from New York state sales and use taxes.
New York law grants cities and counties the option to offer a local sales and use tax exemption on solar electric systems as well.
New York residential solar systems are exempt from state property taxes for 15 years.
Many towns exempt systems from local property taxes as well.
New York Utility Solar Energy Rebates and Incentives
Residential customers of Long Island Power Authority (LIPA) are eligible for an incentive when they have a new grid-tied solar PV system installed at their home. The incentive varies and is dependent on the system size, equipment used, orientation, and shading. It is calculated using LIPA’s Expected Performance Based Buy-Down method.
The New York State Energy Research and Development Authority (NYSERDA) offers a rebate of $1.15 per installed Watt on residential solar PV systems. The amount of this NY solar incentive is capped at 40% of the installed system cost after tax credits or $28,750. It is available to customers of the following utilities:
- Central Hudson Gas + Electric Corporation
- Consolidated Edison Company of New York
- New York State Electric + Gas Corporation
- Niagara Mohawk Power Corporation
- Orange + Rockland Utilities
- Rochester Gas + Electric Corporation