New York State Solar Panel Grants

What are the best new york state solar incentives.

New york state solar panel grants.

New york s megawatt block incentive is a direct generous incentive for solar energy available under new york s ambitious ny sun initiative. Incentives are provided directly to your selected contractor and vary throughout the state. New york state is making solar energy more accessible to homes businesses and communities through ny sun. 25 of the 19 840 cost of this system earns a ny state tax credit of 4 713 leaving only 9 969 after tax breaks.

Ny sun works directly with solar contractors and developers to offset the cost for new york residents to go solar. The second most important incentive for solar panel installations in new york is the state solar tax credit which allows you to potentially earn an extra 5 000 to put towards your taxes on top of the federal solar tax credit. 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. The next round of major solar policies were enacted in a group during the late 1990s.

The megawatt block incentive structure. Our goal is to help make it possible for new yorkers to choose clean energy while lowering their energy costs. After the tax credits we subtract your first year s energy savings which we estimate to be 1 483. It s simple and you get to own your system with 0 down.

If your property isn t ideal for solar panels or you are not a homeowner community solar may be right for you. Own a solar system through your current electric bill. Guidance on determining federal and or new york state tax credit eligibility. Another set of early solar policies in new york were solar easements rights laws which protect a homeowner s right to install and generate electricity with solar panels without any external restrictions.

Community solar projects are an array of solar panels installed in a sunny offsite location. New york state offers a unique on bill payment plan for people looking to go solar. Many community solar projects are becoming available across the state. If your home isn t ideal for solar panels or you can t install them on your property community solar may be right for you.

There are three main incentive programs that make going solar a sweet deal in new york. It is the only program that allows you to own your solar system while paying for the cost through your electric bill. The program provides an up front dollars per watt w rebate for both commercial and residential solar panel systems. You will need to work with a nyserda approved participating contractor to find out if you are eligible for ny sun incentives.

Ny sun has multiple resources to help new yorkers harness the power of the sun including. Next comes the new york solar tax credit of 25 of costs up to 5 000. Detailed information on available incentives and loans for residential customers going solar.