The Federal Solar Tax Credit
The IRS pays for 30% of your solar system in the form of a Federal Income Tax Credit. This is a dollar-for-dollar return on your solar investment. It is not just lowering your taxable income. This is a physical reimbursement of your federal tax dollars from the US government. You have up to 5 years to claim the full amount of that you are eligible. The average solar federal tax credit that our customers receive is $7,500 to $10,000
For more information and to see what the actual IRS form looks like, you can click the PDF below to download it!
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New York State Solar Income Tax Credit
New York State also contributes in the form of a state income tax credit. The tax credit is 25% of the entire gross system cost (including labor) up to a maximum of $5,000. This is also a dollar-for-dollar return on investment and is a reimbursement of your tax dollars of your State Income Taxes. Generally all of our customers have been able to claim most or all of the full $5,000 state credit per home.
For more information and to see what the actual NY State form looks like, you can click the PDF below to download it!