NY State Tax Credit

New York offers a personal tax credit of up to $5,000 for homeowners buying, financing, or leasing solar systems. It is calculated as 25% of your system cost after the NYSERDA rebate. Most systems qualify, and we’ll help calculate this for you. Act now, since this credit expires soon.

Property Tax Exemption

New York offers a personal tax credit for solar energy systems up to 25% of cost, maxing out at $5,000. This is a dollar-for-dollar credit against state income taxes, filed through IT-255. Credit can be claimed at once or spread over years, and will come back to you with your tax return.

Net Metering

New York provides net metering, which allows you to store the energy your panels produce in the electric grid for use at a later date (for example, excess energy produced in July can be used in December), decreasing your electricity bill and putting money back in your pocket.

Federal Tax Credit

The federal government offers a tax credit that covers 30% of the cost of your solar energy system.

 

This isn’t a write-off or a deduction, but a dollar-for-dollar credit against your income taxes. You can claim all of this in one year, and it will come back to you in your tax return.