New York Residents Save big on solar!
Three reasons why solar is so hot in Staten Island right now:
- It’s plain and simple. Go Green and Save Green! By going solar, you’ll be able to drastically reduce your electric bill.
- By going solar you’ll be eligible for state and federal tax benefits.
- And you’ll be doing something amazing for the environment for generations to come.
Governor Cuomo Extends New York City’s Solar Property Tax Abatement
The New York City Property Tax Abatement for solar systems, which was set to expire at the end of December 2014, was recently extended by Governor Cuomo.
Not only was the abatement extended, it was increased, and made retroactive.
This is great news for Staten Island residents who had their solar systems installed this year AND those who are still thinking about “going solar”.
Property Tax Abatement Details
- The NYC Property Tax Abatement was increased from 10% of the system cost over 4 years (net of the NYS rebate) to 20%.
- The change is made retroactive for any system installed after January 1, 2014.
- The abatement is now set to expire at the end of 2015.
- To obtain a tax abatement, a system must be installed and have passed inspection by December 31, 2016 and an application must be filed before March 15, 2017.
- Check with your solar company installer to ensure your application will be filed on your behalf.
While all the details of the new bill, including next steps and timing, have yet to be worked out, the good news is that Staten Island residents will continue to have another reason for installing a solar system on their homes.
New York’s Commitment to Solar Energy
Earlier in 2014, a $1 billion investment to growing the clean energy economy in New York was approved.
This investment, including generous government incentives, have helped the solar industry gain traction, as well as attract consumers looking for additional reasons to consider solar energy for their homes or businesses. New York’s ongoing commitment to reduce greenhouse gas emissions, help fund the solar industry, benefit local residents and protect the environment is clear.
According to the Solar Energy Industries Association (SEIA), New York ranked 9th out of the 50 states in solar capacity installed in 2013. Ongoing government support for the industry should help to expand solar capacity throughout Staten Island and most of New York State.
Understand How Solar and Net Metering Work
Watch this brief video, created by Con Ed, which describes how solar energy and net metering work and how your electric bill is calculated when you go solar.