NY Residential Solar Tax

[KiranJivnani]

https://www.forbes.com/home-improvement/solar/new-york-solar-incentives/ https://www.tax.ny.gov/pit/credits/solar_energy_system_equipment_credit.htm

Eligibility

Solar Energy System Equipment Credit:

• purchased solar energy system equipment,
• entered into a written agreement for the lease of solar energy system equipment, or
• entered into a written agreement that spans at least ten years for the purchase of power generated by solar energy system equipment not owned by you.
• The solar energy system must use solar radiation to produce energy for heating, cooling, hot water, or electricity for residential use.
• The system must also be installed and used at your principal residence in New York State

Benefits

Solar Energy System Equipment Credit:

• The credit is equal to 25% of your qualified solar energy system equipment expenditures and is limited to $5,000.
• The solar energy system equipment credit is not refundable.
• Any credit amount in excess of the tax due can be carried over for up to five years.

Variable to add: name

Variable to amend: name

Parameter to add: name

Parameter to amend: name