According to New York State Energy Research and Development Authority, almost 26,000 New Yorkers claimed $23 million in tax credits for clean transport infrastructure and solar investment in 2014. You could do the same by taking advantage of multiple tax credits available for "going green" by conserving energy and reducing carbon emissions.
As part of New York's Reforming the Energy Vision program, the NY State Tax Department and NYSERDA have highlighted tax credits for "environmentally conscious homeowners." Details are reproduced below:
Solar energy system equipment credit
New Yorkers are eligible to claim the solar energy system equipment credit if they've purchased solar energy equipment, leased the equipment, or have agreed to purchase energy produced by a solar energy system for at least ten years.
The credit is equal to 25 percent of the expenses related to the qualified solar energy system after subtracting grants from NY-Sun, and is limited to $5,000.
Alternative fuels and electric vehicle recharging property credit
Property owners or their business can claim a credit worth up to $5,000 for investments in new alternative fuels vehicle refueling property or electric vehicle recharging property. For Tax Year 2014, nearly 26,000 environmentally-conscious New Yorkers claimed $23 million in credits for these programs.
One of Governor Cuomo's environmental initiatives, NY-Sun, is working to move the state closer to a sustainable, self-sufficient solar industry. The growth of solar energy installations in New York State has increased 575% between 2012 and 2015 and strong demand continues. New York State now ranks fourth in the number of people employed in the solar industry and fifth in total annual solar installations, up from ninth in 2013.
For more information:
Dayle Zatlin, Assistant Director of Communications
Phone : 518-862-1090, Ext. 3359
Email : email@example.com
Phone : 518-530-4643
Email : James.Gazzale@tax.ny.gov