With LIPA's rebate and New
York State's Solar Tax Credit, homeowners can significantly reduce
the cost of purchasing a PV system.
Rebates
LIPA is currently offering rebates for the installation of Photovoltaic (PV) systems in LIPA's
service territory. Rebate availability is on a first-come, first-serve basis, based upon application pre-approval by LIPA.
LIPA PV Rebate Availability
Incentives
Direct incentives of $3.50 per watt, saving you approximately
50% on system costs.
Additional Incentives
LIPA is offering an extra $1 per watt above the current rebate
level listed directly above. This extra incentive is available only
to Schools, Government and Not For Profit customers. This extra
incentive is available on a first come, first served basis.
Download application forms
Investment Tax Credit for Commercial Customers
Commercial customers can take advantage of the business energy tax
credit. Anyone who invests in or purchases qualified solar energy
property can take the credit, up to 30% of the investment or
purchase and installation amount, when income tax forms are filed.
Learn more
| Incentives |
Tax Credit |
Effective Dates |
Incentive Cap |
| New York State |
25% |
|
$5,000 |
| Federal |
| • Residential Customers |
30% |
1/1/06 to 12/31/08 |
$2,000 |
| • Commercial Customers |
30% |
1/1/06 to 12/31/08 |
No Cap |
| Nassau County |
No sales tax |
12/1/05 |
- |
| Suffolk County |
No sales tax |
12/1/05 |
- |
Federal, State and County Tax Incentives
Recent Federal, State and County governments have joined
together to offer additional tax incentives to help promote the
installation of Solar Electric (Photo Voltaic or PV) equipment.
These recent incentives are in addition to LIPA's incentives for PV
installations. For IRS form Investment Credit 3468, please visit
http://www.irs.gov/pub/irs-pdf/f3468.pdf
- Effective December 1, 2005, Suffolk County and Nassau County
have also eliminated their portion of the sales tax on PV
equipment purchases.
- Effective September 1, 2005, New York State has eliminated
the State portion of the sales tax on PV equipment purchases.
- New York State currently offers a tax credit of up to 25% of
the net costs for the installation of a PV system. The current
incentive has a cap of $5,000.
As part of the recent Federal Energy bill, the Federal Government
offers additional tax incentives for the purchase of PV equipment:
- Residential customers are being offered (from 1/1/06 to
12/31/08) up to a 30% tax credit (with a cap of $2,000) for PV.
- Business customers are being offered (from 1/1/06 to
12/31/08) up to a 30% tax credit (with no cap) for PV.
New York State Solar Tax Credit
In addition to LIPA's rebate, homeowners can take advantage
of New York State’s 25% tax credit towards the total cost of a PV
system, with a maximum credit of $5,000. If your tax credit is
greater than the amount of tax you owe New York State, the balance
will not be refunded to you. However, any credit amount in excess of
the tax due can be carried over for a maximum of up to five years.
Download New York State’s 25% tax credit
New York State's Real Property Tax Law
A 15-year real property tax exemption through New York State's
Real Property Tax Law for solar systems installed in New York State.
Learn more
Please note, each county, city, town, village and school district
on Long Island may choose to disallow the exemption as noted in NYS
Office of Real Property Services Section 4.01 - RPTL Section 487.
For the additional terms and rules apply, please follow the links
listed below.
Clean Energy Initiative
