New York State Solar Tax Credit

New York State Solar Tax Credit is sponsored by New York State. State tax credit for homeowners installing solar systems at their primary residence.

New York solar credits, rebates, and incentives Save more with New York solar incentives, credits, and rebates With more renewable energy than any state east of the Mississippi River, there are many New York solar incentives, credits, and rebate programs available to help Empire State residents make cost-effective investments in green electricity.

As qualifying and applying for these programs can reduce your total project costs and speed up your return on investment , it’s crucial that you understand what incentives are available today, as well as your eligibility, when considering solar.

In this guide for New York residents installing a solar energy system, we break down local tax credits, rebates, and incentives to help lower your total investment costs and maximize your long-term savings. Local solar incentives and programs for New York residents The first state to receive 2022 Inflation Reduction Act funding, New York is a national leader in solar, hydroelectricity, and renewable energy development.

In 2023, the 10-Point Action Plan was set into place to help New York meet its climate goals, including $3. 3 billion set aside specially to scale up solar development statewide. As a result, there are several new and long-running financial incentives available to help make home solar as cost-effective as possible for New York residents.

New York State Solar Energy System Equipment Tax Credit Valued at 25% of your total project costs up to $5,000, the Solar Energy System Equipment Credit (SESEC) can be used to reduce state income tax liability for eligible New York homeowners and remains one of the most valuable state-level solar incentives available.

Administered by the New York State Department of Taxation and Finance, the SESEC can be redeemed as a tax credit against your state income liability over a maximum period of five years. The SESEC is also open to New Yorkers who enter into a solar lease or power purchase agreement, in addition to those who purchase or finance solar .

NY-Sun Megawatt Block program rebates The New York State Energy Research and Development Authority (NYSERDA) manages the NY-Sun Megawatt Block program—an initiative that’s helping New Yorkers go solar with cash incentives for PV installations. The program is only available in select locations and for a limited number of people.

In 2024, the NY-SUN Megawatt Block program expired in Long Island, though rebates remain available for homeowners in the ConEd and Upstate regions. The value of your incentive depends primarily on the size of your solar energy system, though if your household income is below 80% of your area’s median, you may be eligible for greater rebates through NYSERDA’s Affordable Solar program.

Critically, the NY-SUN program rebates are handled by solar professionals and passed on to their customers. Therefore, to qualify for this program, you need to work with an NY-Sun-certified solar installer . NYSERDA solar financing incentives and rebates NYSERDA also offers several financing programs for home energy projects with low interest rates to minimize your long-term investment in solar.

In 2024, NYSERDA’s financing options include On-Bill Recovery loans, Smart Energy loans, and Renewable Energy Tax Credit bridge loans—each with its own unique eligibility requirements and terms. Income-qualified New Yorkers may also be eligible for several NYSERDA EmPower+ rebates after going solar.

Currently, eligible Empire State residents can receive EmPower+ rebates worth up to $4,000 for electrical service panel upgrades and $2,500 for electrical wiring upgrades, which may be necessary to install solar or a home EV charger .

New York solar property tax exemptions and abatements Studies show that solar increases property value in real estate sales, though New Yorkers do not have to worry about PV systems increasing their annual property tax liability. Just as in 35 other states, the value of a solar energy system is not considered during property tax assessments in New York, and thus will not affect your annual property tax payments.

If you live in New York City, your residential installation may also qualify for the NYC Solar Property Tax Abatement . While solar property tax exemptions prevent your liability from increasing, an abatement can actually help lower your property taxes owed. Currently, NYC residents can qualify for a property tax abatement worth 7.

5% of total installation costs after NYSERDA rebates, with a maximum value of $62,500 per year or your total annual liability, whichever is less. When filing your property taxes, the NYC solar abatement can be claimed four separate times, which can lower your net installation costs by up to 30% in property tax savings over four years.

Solar sales tax exemption in New York Under state law , residential solar energy systems that are owned or installed under a power purchase agreement are exempt from sales and use taxes in New York.

When considering the statewide sales tax of 4%, this exemption can help you save hundreds of dollars when you go solar in the Empire State and, most importantly, prevents unexpected price increases in the final stages of solar contract development.

How solar net metering works in New York While technically not a tax credit, rebate, or incentive, net metering is a very important program that impacts the overall value of a solar installation. Introduced in New York nearly 30 years ago, net metering rates dictate the value of the excess solar electricity you generate and share with the utility grid.

In 2024, New York is in the process of transitioning away from traditional net metering policies, much like NEM 3. 0 in California . When you install residential solar panels in New York today, you may enroll in Net Energy Metering (NEM) or a new Value of Distributed Energy Resources (VDER) program.

While still available in your area, net metering will usually lead to higher utility bill credits than VDER programs, and new NEM participants must now also pay a small monthly Customer Benefit Contribution (CBC). CBC values are based on the size of your system, at a rate that varies by utility, with an estimated average total between $109 and $159 annually.

Learn more and how to get started The best way to learn everything you need to know about New York solar tax credits, rebates, and incentives is with the help of a local professional. When you choose to install an Enphase Energy System, you gain access to a nationwide network of certified solar installers that includes hundreds of contractors and companies ready to assist you with local expertise across New York State.

Whether you’re in downtown Manhattan, the Hudson Valley, or way Upstate, Enphase Energy systems are designed to outlast New York winters and generate significant amounts of usable electricity year-round with durable, high quality equipment and industry-leading warranty coverage. New York solar incentives, tax credits, and rebates FAQs Does New York offer a solar tax credit?

Yes, New York offers a solar tax credit worth up to 25% of your total system installation costs—including hardware, labor, and permitting. New York’s Solar Energy System Equipment Tax Credit is redeemed as a credit against your state income tax liability. Are solar energy systems exempt from property taxes in New York?

Yes, solar energy systems are exempt by law from increasing your property taxes in the state of New York. If you live in New York City, you may also be eligible for an additional property tax abatement after going solar to reduce your property taxes already owed. Can you get free solar panels in New York?

No, you cannot get free solar panels in New York under ordinary circumstances. Although there are many New York state solar tax credits, rebates, and incentives to lower your total investment costs, there are not any government programs that simply give solar energy systems away to homeowners.

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