Combined available State and Federal tax credits for Solar can
represent 55% in NY, in most cases!
Federal Tax Credits (solar energy system tax credit on Federal Tax Returns)
Residential Solar Tax Credit - The federal solar tax credit presently returns 30%
of installed cost, established in the Energy Policy Act of 2005 for photo-voltaic
systems and solar water heating systems. The former $2,000 cap was removed
with the Stimulus Package, so the available tax credit is 30%, with no upper limit.
Business Solar Tax Credit and Fuel Cell Tax Credit - 30% business credit,
established in Energy Policy Act of 2005, for the purchase of fuel cells and solar
energy equipment. Credit can also be applied toward solar fiber-optic
equipment for interior lighting.
New York State Residential Tax Credit (save on your NY State Taxes) - New York
State allows you to claim a tax credit equal to 25% of the cost of solar thermal
and photo-voltaic systems, with a maximum credit of $5,000 toward each
system.
NY state also exempts solar systems from sales tax and most communities
allow homeowners a 15-year real property tax exemption, on the value of the
property improvement.
Are you ready for Solar? Contact Us at APEX Thermal Service
tel: 845 430 5825
e-mail: info@apexthermal.com
Link to our "Solar Estimator" page
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