New York residents are fortunate to have access to both Federal tax rebates and Statewide programs to help offset the cost of going green. These tax credits and incentive programs are considered among the best in the nation.
Not only can Solar Dad and Sons help design, install and maintain a residential solar energy system, but we can help your family navigate the application process and provide all the necessary permitting and paperwork you may need for State assistance and tax credits. We’ve worked with New York State solar tax incentives for many years and are committed to helping every client leverage the available financial assistance for their solar energy projects.
New York State Solar Tax Credit
New York residents who install new solar energy systems are eligible for a tax credit of 25% of the cost of their system, up to $5,000. This is available even if you lease your solar energy equipment, as long as the solar energy system is installed at your primary residence in New York State. We can help provide the necessary documentation you will need to claim this credit.
NY-Sun Incentive Program
As part of a statewide goal to generate 50% of New York’s electricity from renewable sources by 2030, homeowners and businesses interested in solar electric systems can apply for the NY-Sun Incentive Program to access financial incentives and low-interest loans.
Solar Dad and Sons is an official Participating Contractor with NY-Sun and we are happy to answer any questions about your eligibility for these regionally based incentives.
The majority of incentives are offered on a regional basis, structured by NY-Sun into “Megawatt (MW) Blocks.” Additionally, NY-Sun offers additional incentives and financing through the following programs:
- Affordable Solar: Provides incentives for low to middle-income New York State residents, allowing homeowners with total household income less than 80% of the median income to double the standard NY-Sun Incentive.
- Shared Solar Program: A community-focused program that allows renters, businesses and homeowners the chance to participate in a shared renewable energy project.
- On-Bill Recovery Loans: This NY-Sun Loan Program allows you to take out a low-interest loan to pay for solar electric systems and then repay the amount on your monthly utility bill, with the payment amount based on the estimated energy cost savings.
- Residential Smart Energy Loans: Provides low-interest loans for solar electric systems, with simple repayment options and flexible terms.
- Small Commercial Participation Loans: Allows small business and non-profits to access loans of up to $100,000 for solar energy investment.
- Energize NY: Financing for commercial building owners in select communities in New York, based on the ability to save energy rather than credit scores.
Want to know more about NY-Sun, Statewide tax credits or financing for solar energy? We would love to answer your questions! Contact Us today to get started.