New York Solar Incentives
You Can Benefit from Solar Installation in NY
The New York State Energy Research and Development Authority (NYSERDA) currently offers a rebate for solar electric systems. Our New York solar installation team at Sea Bright Solar will take care of all the required paperwork and explain how the rebate works. Businesses and homeowners are not only eligible for the state rebate, but also federal tax benefits, like a 30% tax investment credit. Businesses can take advantage of federal depreciation benefits as well. If you believe have been considering installing solar power, these added incentives may be helpful to know.
To learn more about these incentives, call us at (732) 253-4052 or read on below.
The federal incentives provided to New York homeowners and business owners are very beneficial. You are able to install solar panels, reduce the cost of your bills, and receive a few extra incentives that can help with tax credits as well.
Federal incentives that may be available in New York are:
- Business Energy Investment Tax Credit: Business owners are eligible to recover depreciation benefits. This credit applies to all solar hot-water and solar electric systems. (Expires 12/31/2016)
- Federal Tax Credit: Homeowner in New York can take advantage of a 30% federal tax credit on the full cost of the solar system. There is no system size limit. (Expires 12/31/2016)
The state of New York also allows for various incentives to homeowners and business owners who install solar power to their home or building. There are certain exemptions on taxes, as well as personal credits which you may be able to use.
State incentives include:
- Personal Tax Credit: For residential and multi-family homes, there is a tax credit for 25% of the system cost, which is capped at $5,000. The maximum system size eligible for this tax credit is 25 kW for residential homes and 50 kW for systems owned by a condominium or cooperative housing associations.
- 0% Sales Tax: Solar electric and solar hot-water systems are 100% exempt from sales tax.
- Property Tax Exemption: 100% exemption for 15 years.
Sea Bright Solar: We Do Solar Right
Opening our doors in 2003, our team has been recognized numerous times by various organizations for our commitment to excellence. We offer a free consultation so you can understand how solar works, what our installation process is like, and how you can benefit. We have been trusted by countless customers as their full-service solar company, and we want to be there for you too. If you need solar installation in New York, we're the team you can trust.
Get started today. Call (732) 253-4052.