Are you aware of the many great NY solar incentives that are available to you through investing in our solar powered technologies? Financial tax credit incentives from both the Federal government and New York State have been extended through 2016.
Federal Income Tax Credits
30% of the cost after any State incentives, rebates or grants can be taken off of your Federal Income tax.*
The Federal Income Tax Credit for solar power is expiring end of 2016. It offers you great tax incentives through utilizing solar power technologies for both residential and commercial projects. There is now no upper limit on residential or commercial solar systems. The credit is currently due to expire December 31st, 2016. So don’t wait. Also included were tax credits for geothermal heat pumps and residential wind systems. Want to know more about these great tax incentives? Check out www.dsireusa.org for the latest information.
New York State Incentive Program
New York State Energy Research and Development Authority (NYSERDA) offers a NY solar incentives program to help pay for grid tied solar power (PV) systems. The NYSERDA incentive program has been extended through the end of December 2023. Want to know more about this great NY solar incentive? Check http://ny-sun.ny.gov for more details. NYSERDA just raised the upper system size limits. So now you can get NYSERDA incentive on larger systems. The level of potential incentive benefit is subject to change without notice (the current rate is $0.50 per watt), This incentive is reducing all the time so don’t wait to schedule your site survey. This process takes time and functions on a first come, first served basis.
In addition if you are low income NYSERDA is making solar even more affordable for you. If you earn less than 80% of the average income for your region of New York State NYSERDA is offering you twice the regular incentive rate for going solar. Contact Great Brook Solar today for more details at 607-847-6366.
Low Interest Loans
Green Jobs Green New York now offers loans as low as 3.49% for residential solar systems. See how Great Brook Solar can help you obtain this easy financing.
New York State Personal Income Tax Credit
25% of an eligible solar energy system cost up to $5000 can be taken directly off your personal State income tax
New York State has a personal Income Tax Credit for solar power systems. This is a credit not a deduction. It directly reduces your tax. This is one more way New York State helps you go solar reducing your energy costs while helping the environment.
*Note: Great Brook Solar NRG, LLC are not tax advisers. We cannot obtain income tax credits for our customers. Please consult with your tax adviser to see whether you are eligible for any Federal and NY solar tax credit incentive. You will be able to learn more about how your investment in solar powered technologies can be a tax shelter! Note these are tax credits not deductions. They directly reduce your tax.
New York Property Tax & Sales Tax
In addition, New York State has a property tax exemption where your property cannot have its assessment raised because you installed a solar power system (please note: a few towns opted out of this exemption). New York also has a sales tax exemption for residential installed solar systems and now commercial installed solar systems as well.
Call Great Brook Solar (607) 847-6366 to discuss Solar System Installations and NY solar incentives!