Nys Solar Tax Credit 2018

However any credit amount in excess of the tax due can be carried over for up to five years.

Nys solar tax credit 2018.

The new york solar tax credit can reduce your state tax payments by up to 5 000 or 25 off your total solar energy expenses whichever is lower. Learn how you can benefit from new york s solar incentives rebates tax credits today. New york state offers several new york city income tax credits that can reduce the amount of new york city income tax you owe. The great advantages of the solar equipment tax credit are twofold.

The solar energy system equipment credit is not refundable. It applies to you even if you went solar with a lease or. The credit is equal to 25 of your qualified solar energy system equipment expenditures and is limited to 5 000. Are you a full or part year new york city resident.

First you don t have to purchase your system to claim the credit i e. New york is a top 10 solar state 1 and for good reason. As a part of its ambitious reforming the energy vision initiative 2 new york is making solar accessible to households across the empire state. In addition to our incentive programs and financing options you may qualify for federal and or new york state tax credits for installing solar at home.