Serving the Hudson Valley Region of New York
Telephone 518-398-5060

Solar Power Rebates & Incentives

Your solar power system may qualify for several tax incentives.

  1. A Federal Tax Credit of 30% of the post-rebate cost
  2. A New York State 25% Tax Credit capped at $5,000
  3. A New York State Sales Tax Exemption
  4. A 15-Year Property Tax Exemption

Federal Residential Solar Investment Tax Credit (IR Code 25D)

Individuals who install a residential solar electric system in the United States between January 1, 2009, and December 31, 2016, will receive a credit against their federal income tax liability (including AMT) in the amount of 30% of the net installed cost after eligible utility rebates.

The bill allows individual taxpayers to use the credit to offset AMT liability, and to carry unused credits forward to the next succeeding taxable year up to 5 years.

New York State Solar Tax Credit (NY CLS Article 22 606)

Individuals who install a residential solar electric system in New York State will receive a credit against their state income tax liability in the amount of 25% of the net installed cost after eligible utility rebates (up to $5,000). Unused credits can be carried forward for five years.

New York State Solar Tax Exemption (NY CLS Article 28 1115)

Sales and installation of solar energy systems are completely exempt from New York State sales tax.

New York State Real Property Tax Law (Section 487)

Provides a 15-year real property tax exemption for solar electric systems constructed in New York.

Your solar system also qualifies for rebates.

NYSERDA is responsible for rebates for customers in the CHG&E, National Grid & NYSEG territories.

Incentives are available on a first-come, first-served basis. Program incentives are not reserved until a project has achieved ‘Approved’ status.

The individual project incentive rate is $1.00 per Watt DC for all types of applications up to the first 50kW of system size. Residential incentives are capped at a maximum of 25kW. Additionally, a second tier incentive of $0.60 per Watt DC is available for systems greater than 50kW up to 200kW. Systems that are greater than 200kW may still apply, but are only eligible for funding up to the 200kW level. All incentives are subject to change depending upon demand and other market conditions. Incentive rates are subject to change by NYSERDA at any time.

The above is a summary of the available tax credits and rebates for which you may be eligible. It should not be misconstrued or misinterpreted as professional tax advice. HVW&S is not a tax advisor and recommends speaking with a professional tax advisor or accountant to determine eligibility. Additionally, utility rebates are subject to change without notice. Make sure to speak with your HVW&S representative to verify the current solar rebate levels in the Hudson Valley region.

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