Here are some of the monetary incentives New York offers its residents and businesses when installing solar systems.
New York State Energy Research and Development Authority (NYSERDA): Photovoltaic Incentive Program
This program has been suspended since July 2010. However, a new program, PON 2012, is being developed in conjunction with NYSERDA. The new program will offer a similar rebate, most likely with roughly $1.75 per watt DC, but exact values are subject to change.
Long Island Power Authority (LIPA): Photovoltaic Rebate Program
Photovoltaic systems in all sectors are eligible for this rebate, now at a level of $1.75/watt. This rebate will be offered in two blocks of 500kW for the Solar Pioneer Program. The first block was made effective August 16, 2010, and applications submitted after this date were accepted at $1.75/watt. On October 1, 2010, an additional 500 kW block was available at $1.75/watt.
For the commercial systems the current rate is $1.75 per watt DC (up to 50 kW in size - maximum incentive of $87,500)
School, governments and non-profits receive a rate of $2.75/watt DC (up to an incentive of $137,000)
Tax Incentives for Solar Energy in New York
Solar (and Fuel Cell) Tax Credit
This is a personal income tax credit enabling residents to decrease personal tax liability when purchasing solar-energy equipment. PV systems must not exceed 10kW (multi-family systems cannot exceed 50 kW).
Residents can receive up to $5,000 towards a solar energy system.
Property Tax Abatement for Photovoltaic Equipment
Photovoltaic systems in cities larger than 1 million people are eligible for this monetary incentive. Thusly, most PV systems in New York City are eligible.
If your system was installed between August 8, 2008 to December 31, 2010: 8.75% of system expenditures per year for 4 years (total of 35%); If your system was installed from January 1, 2011 to December 31, 2012 then 5% of system expenditures per year for 4 years (total of 20%).
NYSERDA - Energy $mart New Construction Program
New buildings that have an emphasis on solar incorporation, specifically passive measures are eligible for this forward thinking project that rebates 50%-75% of initial costs, depending of the type of project. There is also an $850,000 residential cap, as well as a $1.65 million cap for all Con Edison customers.
100% Solar Sales Tax Exemption
In 2005, New York allowed for tax exemption on the sale and installation of residential solar-energy. Photovoltaic, solar water heat, and solar space heaters (for residential use) are eligible.
New York Grants and Loans for Solar Energy
NYSERDA - Assisted Home Performance Grants
Low-income residents using solar hot water and photovoltaic (pv) systems are eligible for this grant of 50% (up to $5,000 for single home owners, $10,000 for buildings) of initial costs.
NYSERDA - Clean Energy Business Growth and Development
This program specifically targets commercial and industrial businesses installing solar energy systems. The grant gives 50% (up to $200,000) worth of funding for solar systems.
NYSERDA - Energy Star Financing Program
100% of your residential solar water heating and/or photovoltaic system can be covered with this program. The limit for this solar program is $2,500-$20,000 depending on your credit. Energy Star specification and qualifications must be met, and Building Performance Institute approved contractors must install equipment.
New York State Energy Research and Development Authority (NYSERDA): Energy Star Homeowner Financing Incentive
In 2007, the New York State Assembly passed Bill 08690, expanding New York's net metering provisions. Simply put, customers who install solar power will receive credit for any extra power they generate with photovoltaic systems.
Riverhead - Energy Conservation Device Permitting Fees
Businesses and residential photovoltaic systems and other approved renewable energy systems in Riverhead may be charged a permitting fee. However, this permitting fee is now at a flat rate of $150, a significantly decreased amount.