By Theresa Ficazzola
It’s obvious that we need the sun to produce solar power for homes and businesses. However, what’s not so obvious is that the solar industry is also powered by support from the government.
Generous incentives from federal, state and local governments have helped the industry gain traction as well as attract consumers looking for additional reasons to “go solar”.
Governor Cuomo’s Commitment
This is especially true in New York where this past April, New York Governor Andrew M. Cuomo announced a nearly $1 billion commitment to NY-Sun. 
According to the Solar Energy Industries Association (SEIA), New York ranked 9th in solar capacity installed in 2013. This new funding should help New York continue to expand its solar initiatives throughout the state.
A press release from the Governor’s office stated:
“This $1 billion investment underscores New York’s commitment to growing the clean energy economy,” Governor Cuomo said. “By providing long-term funding certainty, the State is attracting private sector investment, creating new economic opportunities and supporting sustainable development…”
“…we are once again reminded how initiatives such as NY-Sun can work to provide innovative solutions, create a more resilient and flexible power grid, lower the state’s carbon footprint and promote a cleaner and healthier environment for all New Yorkers,” Governor Cuomo said.
The NYC Property Tax Abatement
This investment in New York’s solar industry is funding many different types of initiatives. Government incentives, for example, are either funded with specific dollar amounts or their legislation calls for specific deadlines as to when the funding expires.
One particular government incentive, the New York City Property Tax Abatement, is set to expire at the end of this year. However, at the time of this writing, there was legislation on Governor Cuomo’s desk to extend the abatement into next year.
Anyone interested in taking advantage of the New York City Property Tax Abatement must have their system installed, inspected and approved by the end of this year. The amount of the abatement is based on the size and cost of the solar system installed.
Time is Running Out
Since the entire solar installation process does take several months, and it’s already the end of August, there isn’t much time left to take advantage of this amazing tax advantage. You may want to ask your solar consultant if there’s a chance your system will be “completed” in time, meaning installed, inspected and approved prior to the expiration of the abatement.
Whether Governor Cuomo can secure the necessary funding to extend the NYC Property Tax Abatement remains to be seen. However, there are still many reasons to take advantage of solar power and the other government incentives that are available to homeowners and businesses that choose to help protect our Earth.
Call SI Solar Today
SI Solar is a local solar company serving the Staten Island, New York, and New Jersey areas. The main goal of SI Solar is to ensure that all of its customers have the information they need to make intelligent, informed decisions about how solar energy can save them money and improve the quality of their lives.
Call the professionals at SI Solar today at 844-747-6527 to get straight forward answers about which government incentives are available to you.
