Financial Incentives Masthead

Financial Incentives

Incentives for Installing Solar Electric Systems in NY State

New York State recognizes the many benefits of solar electric systems and has implemented several incentive programs to reduce the barriers to installing these systems. They include:

  • The Net Metering law
  • Newly revised tax credits
  • New York State rebates

Upfront rebates and tax incentives can total up to 70% off system costs.

I. Net Metering – Residential customers with 25kW or smaller solar electric systems are entitled to turn their electric meters backwards when their solar systems generate more electricity than is being consumed. You pay for only the NET amount of electricity that you buy from the utility, and end up being PAID when you generate excess electricity. The utility company purchases your excess electricity from you at the same price that you pay them for it.    
New York State now also allows net metering for commercial, non-profit and municipal systems up to 2 megawatts in capacity.

II. Income/Tax Credits – For residential solar systems, New York State provides an income tax credit for up to 25% of the system cost, with a maximum of $5,000 per year.
The federal government provides a 30% tax credit for both residential and commercial solar systems.

III. Incentive Rebates New York State offers the following rebates for solar electric installations:

  • Residential $1.75 per watt, up to 7 kW
  • Commercial $1.75 per watt, up to 50 kW
  • Not-for-Profit – $1.75 per watt, up to 25 kW

E-Mail us or call our office today for more information at 866-452-7652.