New York is a great place to invest in solar energy. With generous incentives, rising electricity rates, and ambitious clean energy goals, the Empire State is setting a great example for the rest of the country. NY-Sun makes solar energy easier and more affordable for New York residents by offering incentives and financing options to reduce the cost of purchasing and installing solar panels. In addition to the state incentives available for potential solar systems in New York, many towns, cities and counties will also offer incentives such as tax credits, rebates, or others that may overlap with state incentives.
To claim this credit, you will need to file Form IT-255 “Credit Claim for Solar Energy System Equipment” with your New York State income taxes. NY-Sun, along with the NYPA, also provides the backbone for the state's Community Solar and K-Solar programs. To make sure you don't miss out on any potential incentives and benefits of installing solar panels in your New York residence or business, read on to see New York State's top solar tax credits and other incentives to consider when researching whether solar is for you. In addition to living in a designated historic community, your solar panels must be installed in the home you owned and where you resided during the specified fiscal year in order to qualify.
Simply take 25% of your total installation cost (after requesting reimbursement from NY-Sun) and file this handy New York Tax Form IT-255 to receive the credit.Tax credits, rebates and incentives can cover a truly significant part of the cost of solar energy. To better explain how the tax credit works, we included a video from SunPower, one of the country's leading providers of solar energy. If you're seriously considering solar energy for your home, act quickly to be able to offer full solar incentives while they last.Whether you're a homeowner, business owner, or government official, NY-Sun can help you decide if solar energy is right for you. With all of these incentives available, now is a great time to invest in solar energy in New York.
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