Incentives
Federal Incentives:
Solar Investment Tax Credit (ITC):
● Offers a federal tax credit of 30% of the total solar system cost for systems installed by the end of 2032.
New York State Incentives:
Residential Solar Tax Credit:
● Offers a personal income tax credit for residential solar PV systems with a
credit that is calculated by the system cost times 25% up to $5000.
Property Tax Exemption:
● Exempts the added value of a solar PV system from property taxes for residential and commercial properties.
NY State Energy Research and Development Authority (NYSERDA) Programs:
● Various programs and incentives for energy efficiency and renewable energy, including solar.
● Programs may evolve, so check the NYSERDA website for the latest offerings.
Local Utility Programs:
National Grid:
● Provides incentives and support for solar projects within its service areas.
Net Metering:
● New York has a net metering policy that allows solar system owners to receive credit for excess electricity generated and fed back into the grid.
