(845) 876-6889
22 E Market St,
Rhinebeck, NY 12572
WHERE TO FIND US ...
The Hudson Valley's Energy Reduction and Solar Specialists
 

Incentives

FOR HOMEOWNERS

NYSERDA Rebate- The New York State Energy Research and Development Authority will help you pay for your solar array. They offer what is called a “capacity based cash rebate.” This means that they will pay us, the installer, a rebate based on the wattage (your solar panels have a rated wattage; multiply this wattage by the number of panels) of your solar array, which is deducted from your project cost.

Federal Income Tax Credit: You will receive 30% of the system cost minus the NYSERDA rebate in federal income tax credits. You will have two tax seasons to use all of the credits.

State Income Tax Credit: You will receive 25% of the system cost minus the NYSERDA rebate, capped at $5,000, in state income tax credits. You will have five tax seasons to use all of the credits.

FOR BUSINESS OWNERS

NYSERDA Rebate: The New York State Energy Research and Development Authority will help you pay for your solar array. They offer what is called a “capacity based cash rebate.” This means that they will pay us, the installer, a rebate based on the wattage (your solar panels have a rated wattage; multiply this wattage by the number of panels) of your solar array, which is deducted from your project cost.

Federal Income Tax Credit: You will receive 30% of the system cost minus the NYSERDA rebate in federal income tax credits. You will have two tax seasons to use all of the credits.

MACRS: MACRS (pronounced MAKERS) stands for Modified Accelerated Cost-Recovery System and depreciation is known as the reduction in the value of an asset over time due to wear and tear or normal use.

Depreciation is classified as an expense and may be deducted from your taxable income, thus reducing the cost incurred for the solar power system. Depreciation is your businesses way of recovering the costs incurred from a solar power installation.

Commercial solar power systems are eligible to be depreciated over a 5-year, accelerated rate schedule. You can find more information on IRS Publication 946: How to Depreciate Property. The most important detail to note is that 85% of the cost of solar is eligible for the 5-year depreciation rates.