Nyc Solar Panel Incentives

The system must also be installed and used at your principal residence in new york state.

Nyc solar panel incentives.

How much is the credit. New york net metering. Net metering is a crucial policy that ensures you get paid a fair price for the solar electricity. When pairing energy storage and solar you may be eligible for an energy storage incentive in addition to the current ny sun solar incentive.

The itc entitles you to a tax credit equal to 26 percent or your system s value. You will need to work with a nyserda approved participating contractor to find out if you are eligible for ny sun incentives. The credit is equal to 25 of your qualified solar energy system equipment expenditures and is limited to 5 000. In addition to incentive and financing options your business may qualify for federal and or new york state tax credits and rebates for getting solar.

For instance if your system costs 22 000 you could take a tax credit of 6 600 on your federal taxes. New york s megawatt block incentive is a direct generous incentive for solar. The megawatt block incentive structure. What are the best new york state solar incentives.

The second most important incentive for solar panel installations. The solar energy system equipment credit is not refundable. Incentives are provided directly to your selected contractor and vary throughout the state.