Solar Energy Incentives in New York
If you’re a home or business owner, there couldn’t be a better time to go solar. State and federal tax incentives for transitioning to clean, renewable energy are bigger than ever before and can save you money through every stage of the process, from installation to years beyond.
Discover the many benefits of going solar by scheduling a consultation with Solar Liberty online or calling today!
Make the first step toward energy independence today, and let Solar Liberty guide you! State and federal incentives can equal up to 50% or more of the total installed system cost.
Residential Solar Incentives
While going solar is an excellent option for any homeowner looking to reduce their energy bills, many people still think solar is too expensive to install. But this simply isn’t true for most! Solar energy is truly accessible to almost everyone these days, thanks to special incentives and financing, made available by our Empire State.
NYSERDA NY-Sun Grant
NY-Sun is New York’s solar program, which falls under The New York State Energy Research and Development Authority (NYSERDA). All you need to know is that NY-Sun exists to make going solar easy and affordable for homeowners like you by offering special contractor incentives and reduced-interest financing.
NYSERDA Application Process
We know mountains of paperwork with complicated jargon aren’t fun to navigate. To make your life even easier, Solar Liberty will do all the hard work for you by filling out the necessary applications on your behalf.
FEDERAL TAX INCENTIVES
With the Inflation Reduction Act of 2022, installing a solar photovoltaic (PV) system between 2022 and 2032 makes you eligible for a 30% federal tax credit — that’s up from 26% between 2020 and 2021. Note: This federal tax credit can often be combined with state tax credits.
NEW YORK STATE TAX INCENTIVES
When you purchase or loan solar equipment, you can also qualify for the Solar Energy System Equipment Credit. For maximum savings, this tax credit can often be combined with other credits.
Rest assured; Solar Liberty can help you get every penny you’re entitled to! Our NABCEP-certified team understands every nuance of New York State and federal solar-energy tax credits because it’s our mission to make going solar accessible for everyone.
*As per NY Sun and our standard operating procedure, we advise that each customer talk with their tax professional.
Commercial Solar Incentives
Taxable businesses and certain tax-exempt entities qualify for the Investment Tax Credit (ITC) or Production Tax Credit (PTC) when they convert to renewable solar power. With the ITC or PTC, a percentage of the cost of going solar can be deducted from federal taxes, with the option of direct payment of the tax credit to the qualifying business or nonprofit.
In 2025, the ITC will be replaced by the Clean Energy Investment Tax Credit and PTC will be replaced by the Clean Energy Production Tax Credit.
Commercial Eligibility
To be eligible for either of these tax credit options, your business and the location of installation must be within the United States. Most or all of the equipment must also be new.
If your business or commercial entity is tax-exempt, it may be eligible for direct payment or credit transfer rather than tax reimbursement. Examples of tax-exempt entities include public schools, public universities, municipalities, 501c non-profits, and projects on tribal lands.
*Contact your trusted tax professional to confirm all aspects of eligibility.
Schedule a Consultation Today!
Solar Liberty has been New York State’s number one solar installer since 2003. Our experienced, trained, and NABCEP-certified solar installers and electricians are unsurpassed in the industry for getting the job done right.
Discover just how easy and affordable it is to shrink your carbon footprint and energy bills by going solar! Request an appointment with Solar Liberty in New York.
