NY Tax Abatement Coming to End

Governor Cuomo Solar gogreenlightenergy.com

On December 31st 2016 the NY Tax Abatement given to solar installations will end. Governor Cuomo signed a bill that extended the property NY tax abatement (PTA) for solar electric systems through January 1, 2017, and it doubled the total abatement amount from 10% to 20% of eligible solar system expenditures. Building owners who placed or place a grid-connected solar energy system into service from January 1, 2014 to December 31, 2016 were and are eligible for a four-year Property Tax Abatement of 5% per year of the installed cost of the system for a total of up to 20%. Abatements are applied after the NY-Sun Incentive and capped at $62,500 per year or $250,000 total. It may not exceed the owner’s property tax liability for any given year.

Recommendation

We are recommending that potential Greenlight Solar customers take advantage of the NY Tax Abatement before it runs out at the end of the year. It isn’t guaranteed that it will be renewed.

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