Solar Panel Rebates Ny

Ny sun makes going solar easier and more affordable for new york residents.

Solar panel rebates ny.

On top of that intrinsic incentive new york has established an aggressive state rebates program for solar which will refund 1 750 per installed kilowatt hour up to 12 500 or 40 percent of the installed cost of your solar project. When it comes to home solar panels new york has long been one of the best places in the country. The solar energy system equipment credit is not refundable. Here s a summary of solar rebates by state.

If you live in new york and are thinking about going solar you should know that thanks to the many financial incentives available 2020 is an excellent year for you to install solar panels. An average sized residential solar system about 400 square feet of solar panels costs 18 000 according to the solar energy industries association an industry group. Solar is exempt from property tax and sales tax. The system must also be installed and used at your principal residence in new york state.

The program provides an up front dollars per watt w rebate for both commercial and residential solar panel systems. The state offers a balanced mix of good solar incentives and relatively high electricity prices that makes home solar in new york a very attractive financial investment. How much is the credit. New york solar power overview.

But don t wait government financial incentives are decreasing. Ny sun works directly with solar contractors and developers to offset the cost for new york residents to go solar. All of the financial benefits listed below go to the owner of the solar panel system. In addition to the 26 federal solar investment tax credit homeowners may also have access to additional solar incentives from their state or local utility.

The tax break reduces. The credit is equal to 25 of your qualified solar energy system equipment expenditures and is limited to 5 000. New york has long been a leader in installed solar capacity. If you buy your system in cash or with a solar loan that means you also get the tax credits rebates and srecs for the system however if you lease your system the third party owner will receive all of the solar incentives.

New york s megawatt block incentive is a direct generous incentive for solar energy available under new york s ambitious ny sun initiative.