Tax Credit
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. 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 most commonly used forms and instructions are listed here. We also encourage you to consult an accountant or tax advisor if you have any questions.
Inflation Reduction Act Tax Credit
25% New York State Tax Credit
For you to claim the New York State personal tax credit, the system must be installed at your personal residence. Community solar is not eligible for the New York State personal tax credit.
New York State Real Property Tax Exemption
- Form RP 487 from New York State Department of Taxation and Finance
- File this form with your local property assessor. 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. You can call your local assessor’s office to find out whether your community has opted out, or reference the online list of municipalities that have opted out.
New York City Real Property Tax Abatement Program
If you live in New York City, ask your participating contractor about the NYC Real Property Abatement Program, which New York City offers in lieu of the New York State Real Property Tax Exemption. Confirm your contractor’s process for submitting and handling the appropriate forms, as some contractors may do it on your behalf.