Nyc Solar Panel Incentives

The solar energy system equipment credit is not refundable.

Nyc solar panel incentives.

The itc entitles you to a tax credit equal to 26 percent or your system s value. New york net metering. The megawatt block incentive structure. Ny sun works directly with solar contractors and developers to offset the cost for new york residents to go solar.

When pairing energy storage and solar you may be eligible for an energy storage incentive in addition to the current ny sun solar incentive. You will need to work with a nyserda approved participating contractor to find out if you are eligible for ny sun incentives. The system must also be installed and used at your principal residence in new york state. The credit is equal to 25 of your qualified solar energy system equipment expenditures and is limited to 5 000.

Incentives are provided directly to your selected contractor and vary throughout the state. The most significant solar incentive available for new yorkers in 2020 is the federal investment tax credit itc. For instance if your system costs 22 000 you could take a tax credit of 6 600 on your federal taxes. The second most important incentive for solar panel installations.

What are the best new york state solar incentives. Net metering is a crucial policy that ensures you get paid a fair price for the solar electricity. New york s megawatt block incentive is a direct generous incentive for solar.