Ny State Solar Tax Credit 2017

Solar energy system equipment credit.

Ny state solar tax credit 2017.

New york is a top 10 solar state 1 and for good reason. You must each file form it 255 showing the computation of the total credit and submit the statement described. Form rp 487 from new york state department of taxation and finance. How much is the credit.

You each pay one half of the cost of the solar energy system equipment. The system must also be installed and used at your principal residence in new york state. Partnering with leading manufacturers in the solar industry ny state solar exclusively offers premium solar components and the most innovative financing methods. Earned income credit new york state new york city economic transformation and facility redevelopment program tax credit empire state apprenticeship tax credit.

You must claim one half of the total credit on your new york state return and your father would claim the other half of the credit on his new york state return. Some municipalities and school districts have opted out and will include the value of the solar installation in your property tax assessment without the exemption. As a part of its ambitious reforming the energy vision initiative 2 new york is making solar accessible to households across the empire state. Thanks to rebates solar tax credits and exemptions new yorkers could earn back up to 40 on the up.

File this form with your local property assessor. Ny sun has multiple resources to help new yorkers harness the power of the sun including. Ny state solar is one of the fastest growing solar providers in the country currently rated as one of the top solar providers in ny. Incentives are provided directly to your selected contractor and vary throughout the state.

Are you a full or part year new york city resident. New york state is making solar energy more accessible to homes businesses and communities through ny sun. The solar energy system equipment credit is not refundable. 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. Learn how you can benefit from new york s solar incentives rebates tax credits today. New york city credits. Our goal is to help make it possible for new yorkers to choose clean energy while lowering their energy costs.

First you don t have to purchase your system to claim the credit i e. Ny sun works directly with solar contractors and developers to offset the cost for new york residents to go solar. The credit is equal to 25 of your qualified solar energy system equipment expenditures and is limited to 5 000.