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New York Solar Incentives

Team up with Sunrun and Bring Home the Benefits of NY Solar Energy

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New York is one of the top ten states for solar in the U.S.1

-11%

New York solar panel price drop over the last five years.1

70%

State electricity generation that will come from renewable energy sources by 2030.2

The Empire State’s electricity rates are more than 48% higher compared to the national average.3 That’s just one of the many reasons New Yorkers choose to go solar to create and store more affordable energy at home. New York also offers some of the best solar incentives in the U.S.

As the country’s leading residential solar, storage, and energy services company,4 we work so you can increase your control over electric utility bills. We can also help you get protection during blackouts and reduce your carbon emissions while connecting you with New York’s solar incentives.

Incentive Programs, Tax Credits, and Solar Rebates in New York*

Incentive

Value

Federal Solar Investment Tax Credit (ITC)**

The 26% federal solar tax credit is available for purchased home solar systems installed by December 31, 2022.5

NY State Solar Energy System Equipment Tax Credit

The 25% state solar tax credit is available for purchased home solar systems in New York. (Max. $5,000 state tax reduction)6

NY-Sun Megawatt (MW) Block Program

Up to $1,000 for every kilowatt (kW) of solar power installed.7

Solar Electric Generating System Tax Abatement (SEGS)

Property tax exemption on the added home value from a solar and storage system.8

Home Solar Project State Sales Tax Exemption

4% home solar system state sales tax exemption.9,10

Find out If You Qualify for New York Solar Incentives

Learn the Details of New York Solar Incentives

Buy and install new solar panels in New York in 2022, with or without a home battery, and qualify for the 26% federal tax credit. The residential ITC drops to 22% in 2023 and ends in 2024.5

Average-sized 5-kilowatt (kW) system cost in New York: $14,994

Approximate system cost in New York after the 26% ITC in 2022: $11,09611

Purchase a new solar power system with backup storage and get a state tax credit of 25% of your system's total installation cost. This is limited to a $5,000 state tax reduction.6

The state solar tax credit isn’t refundable. Still, you can carry over any unused credit amount of this incentive for up to five tax years.6​

Eligible homeowners can receive up to $1,000 for every kilowatt (kW) of solar power installed.7

The Megawatt Block Incentive is divided into districts: Long Island, Con Edison territory (New York City (NYC) and Westchester County), and Upstate New York. Your incentive rate will depend on the region your solar installation will be located.7

Add a new solar and storage system to your home in New York State, and your property taxes won’t go up.8 This could also help you build home value.

Approximate solar home value increase in NY: 3.6%12

When you buy a new solar power system in New York, with or without energy storage, you won’t pay any state sales tax.9 The exemption is for 100% of the state sales tax of your new solar installation and could save you 4% right off the bat.10

New York’s Solar and Storage Benefits Are in Reach

On top of all these state and federal solar incentive programs, our home solar and battery storage plans in New York start at $0 down. What's more, the New York’s Value of Distributed Energy Resources (VDER) program from the New York State Energy Research and Development Authority (NYSERDA) could let you earn credits on your bill for the excess solar energy you produce and send to the grid.13 The VDER program could help you save money on future electric bills. In other states, this arrangement is known as net metering (NEM).

Now could be an ideal time to go solar with a New York solar company like Sunrun. In fact, we’re one of the best solar installers in New York that you can team up with. Discover if our solar and storage solutions are right for your home. Use our Product Selector or request a quote to get one-on-one service from our expert Solar Advisors. Sunrun solar and storage quotes are always free.

 

Go solar today

Federal Tax Credit (ITC) schedule: 26% in 2022, 22% in 2023, and ends in 2024.

 

  • Learn about the federal tax credit
  • Find your ideal system and battery
  • Get your cost to switch to solar

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*Customer’s ability to monetize rebates, incentives, and tax credits depends on several factors, including, without limitation, continued state subsidization of these policies, the applicable Sunrun product type, and whether a customer purchases or leases a home solar system from Sunrun.

**We recommend contacting a tax professional to most accurately determine the impact of the solar Investment Tax Credit (ITC) on your federal taxes.

 

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