E-Z GUIDE TO
COMMERCIAL SOLAR INCENTIVES

FEDERAL TAX CREDIT
Property owners that install solar can qualify for a non-refundable federal tax credit of up to 30% of their project’s cost, depending on the individual system’s overall size and production.* Your NYSS Commercial Solar Expert will be happy to walk you through the process of adding solar to your property, and discuss what tax credits your project could potentially qualify for.

NYSERDA REBATES
The New York State Energy and Research Development Authority (NYSERDA) offers incentives to help owners of commercial properties within select key areas of the downstate region go solar. For some projects, these incentives can amount to $1,000 per kilowatt in tax credits!

These specialized incentives from the state are limited in quantity, so NYSS always recommends that property owners refer to NYSERDA’s program guide for rules and regulations and their incentive dashboard to confirm availability in your specific area. For more information, visit www.NYSERDA.ny.gov

NEW YORK CITY PROPERTY TAX ABATEMENT
The New York City Property Tax Abatement is a mechanism from the city’s department of finance that allows property owners within the five boroughs to claim a portion of their commercial solar system costs as a property tax abatement over a four year period.

Unlike other tax credits for solar, the property tax abatement is divided into four annual installments and can not exceed any one year’s property tax liability.

ACCELERATED COST RECOVERY SYSTEM (MACRS) FOR SOLAR PROJECTS
Business owners can depreciate the cost of their solar project five years under the Accelerated Cost Recovery System (MACRS). This accelerated depreciation is considered a tax-deductible expense - but always check with your tax professional before applying MACRS depreciation. By allowing businesses to deduct the depreciable basis over five years, business owners can both reduce their annual tax liability and accelerate the rate of return on their solar project.

*Project qualifications for specific federal, state, and local tax incentives may vary. Federal incentives on solar installations may be up to 30%, depending on system specifications. NYSERDA incentives for solar projects vary based on availability of state funding, project size, production capacity, and your property’s geographic location. Please check www.NYSERDA.ny.gov for the latest qualifying rules and requirements. NYC Property Tax Abatement is available for qualifying projects that receive permission to operate (PTO) by the utility after January 1st, 2024.

NY State Solar does NOT provide tax, financial or legal advice. Always consult with a tax professional regarding your specific tax situation.

CONTRACTOR LICENSES

New York City License: 2096284-DCA
Suffolk County: HI-62273
Suffolk County: ME-62692
Nassau County: 153562
Long Beach: 8311
Floral Park: 959
Atlantic Beach: 362-c
New Jersey: 13VH2003600

 

Malverne: 9947
Island Park: 0613
East Hampton: 9797-2020
EPA: NAT-F204826-1
Long Beach: 8311
Southampton: L005902
Westchester: WC-33666-H21
City of Yonkers: 7637
BPI License # 5069835

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*Project qualifications for specific federal, state, and local tax incentives may vary. Federal incentives on solar installations may be up to 30%, depending on system specifications. NYSERDA incentives for solar projects vary based on the availability of state funding, project size, production capacity, and your property's geographic location. Please check www.NYSERDA.ny.gov for the latest qualifying rules and requirements. NYC Property Tax Abatement is available for qualifying projects that receive permission to operate (PTO) by the utility after January 1st, 2024.

NY State Solar does NOT provide tax, financial or legal advice. Always consult with a tax professional regarding your specific tax situation.

Get in touch for a no-obligation discussion about how solar can help control your business' energy costs.

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NY State Solar is proud to be an authorized,
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