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.

Nys solar tax credit 2018.

However any credit amount in excess of the tax due can be carried over for up to five years. As a part of its ambitious reforming the energy vision initiative 2 new york is making solar accessible to households across the empire state. New york is a top 10 solar state 1 and for good reason. It applies to you even if you went solar with a lease or.

The great advantages of the solar equipment tax credit are twofold. First you don t have to purchase your system to claim the credit i e. Thanks to rebates solar tax credits and exemptions new yorkers could earn back up to 40 on the up. The credit is equal to 25 of your qualified solar energy system equipment expenditures and is limited to 5 000.

If you re a new york state resident interested in filing for a renewable energy tax credit you will need to complete the appropriate forms to submit along with your normal yearly tax filing. The solar energy system equipment credit is not refundable. Learn how you can benefit from new york s solar incentives rebates tax credits today. Are you a full or part year new york city resident.