NEW YORK STATE TAX CREDIT INFO-
Incentive Type: Personal Tax Credit
Eligible Renewable/Other Technologies: Solar Water Heat, Solar Space Heat, Photovoltaics
Applicable Sectors: Residential, Multi-Family Residential
Amount: 25% for solar-electric (PV) and solar-thermal systems; for third-party owned systems this is in reference to the aggregate amount owed under the contract rather than the amount owed in any single year
Maximum Incentive: $5,000 for solar-energy systems
Eligible System Size: 25 kW maximum*, except 50 kW for solar systems owned by condominium or cooperative housing associations
Equipment Requirements: Systems must be new and in compliance with all applicable performance and safety standards
Installation Requirements: Electricity generation systems must be grid connected and net metered.
Carryover Provisions: Excess credit may be carried forward five years

In August 2012 the credit was amended yet again (A.B. 34) to allow it to be claimed for systems installed under lease or power purchase agreements (PPAs) of at least 10 years in length. For third-party owned systems, the residential homeowner may claim a tax credit in the amount of lease or PPA payments made during the taxable year, for up to 15 years. The 25% incentive for such systems refers to aggregate amount of payments owed rather than the amount made during any single year. The maximum allowable tax credit amount of $5,000 applies to the total amount of credits claimed regardless of the ownership arrangement. The new law has an effective date of August 17, 2012. It is unclear at this time whether tax credit claims for third-party owned systems will be permitted for installations made prior to this date.

Solar-energy equipment is defined as “an arrangement or combination of components utilizing solar radiation, which, when installed in a residence, produces energy designed to provide heating, cooling, hot water or electricity.” The credit may not be used for pool heating or other recreational applications. Any amount of credit that exceeds a taxpayer’s liability in a given tax year may be carried forward for the five following taxable years. Any portion of the system cost provided by a non-taxable federal, state, or local grant is not eligible for this credit.

NEW YORK STATE PSEG Long Island (Formerly LIPA) Customers-

Solar Pioneer Program For Homeowners…Our valuable rebates of up to $6,600 combined with New York State and Federal tax incentives make PV more affordable than ever.  Incentives vary depending on the systems size, type of equipment installed, panel orientation, and shading. The rebate is calculated using the Expected Performance Based Buy-down (EPBB) method which allows us to incentivize more efficient and optimally sited solar systems. The EPBB is an up-front incentive payment (rebate) for new grid connected solar PV systems and inverters based on the expected output of the system compared to an ideal solar system installation. The rebate will be paid to the customer or their assignee.

CONNECTICUT STATE TAX CREDIT INFO-

The Clean Energy Finance and Investment Authority (CEFIA), formerly the Connecticut Clean Energy Fund, is offering rebates to new solar system owners and lessees who are also customers of United Illuminating and Connecticut Light & Power.

  • For system owners, the rebate is $1.75 per installed Watt up to 5 kW and $0.55 per Watt for the next 5 kW, for a maximum of $11,500.
  • For system lessees, the rebate is $0.30 per kWh generated by the system for the first six years.

Connecticut’s two investor-owned electric utilities, United Illuminating and Connecticut Light & Power, will buy zero-emisison Renewable Energy Credits (ZRECS) from customers with solar PV systems installed after July 1, 2011 who did not receive funding or grants from the Clean Energy Finance Investor Authority or the Connecticut Energy Fund.

  • The rate for Connecticut Light & Power ZRECs is $164.22
  • The rate for United Illuminating ZRECs is $148.89

MASSACHUSETTS STATE TAX CREDIT INFO-

State income tax credit: Massachusetts allows a state income tax credit of 15% of the the installed cost of a resident’s solar PV system (up to $1,000). If the credit is worth more than the taxpayer owes, it can be rolled over to the next year up to three times.

Property Tax Exemption:  Solar PV systems in Massachusetts are exempt from all local property taxes for the first 20 years of their lives.

Sales Tax Exemption:  Solar PV systems in Massachusetts are exempt from all state sales taxes.