Since 2014, NYSERDA has directly subsidized solar installations through direct payments to solar installers, which are passed on to customers via upfront discounts. The current subsidy level is $.20/wDC. This means that for every DC watt of installed solar NYSERDA will pay you $0.15. Solar systems are denominated in kW DC; $.15 per watt translates into $150 per kW. A 10kW system would therefore receive a $1500 subsidy. Note that NYSERDA funding blocks are finite and have historically stepped down. Rivertown Solar will file for this incentive on your behalf (this may be considered taxable income).

This is a dollar-for-dollar reduction on the amount of NYS income taxes you would otherwise owe. Currently, it is equal to 25% of the cost of the solar system and capped at $5,000. So if your solar system costs $25,000, you claim that expense on your taxes, which results in $5,000 of tax savings. You can find the form you need to fill out to receive this credit here.*

This is a dollar-for-dollar reduction on the amount of Federal income taxes you would otherwise owe. Currently, this is equal to 30% of project costs if you pay taxes on your utility incentive. So if your solar system costs $30,000, you claim that expense on your taxes, which results in $10,000 of tax savings. Note that if your NY-Sun incentive is treated as taxable, you’re cost basis for this credit is the full amount; otherwise, you must deduct the NY-Sun credit from your cost basis, example: ($30,000 - $2,000) .3 = $8,400. You can find the form you need to fill out to receive this credit here.

If you own property in New York City, you're eligible for a 20% property tax abatement on the cost of your solar system, applied over four years. This is in addition to the 30% federal tax credit and other state incentives. Rivertown Solar will handle the paperwork to make sure you get every dollar you’re entitled to.