Incentive Type: Corporate Depreciation Eligible Renewable/Other Technologies: Solar Water Heat, Solar Space Heat, Solar Thermal Electric, Solar Thermal Process Heat, Photovoltaics, Landfill Gas, Wind, Biomass, Renewable Transportation Fuels, Geothermal Electric, Fuel Cells, Geothermal Heat Pumps, Municipal Solid Waste, CHP/Cogeneration, Solar Hybrid Lighting, Anaerobic Digestion, Microturbines , Direct-Use Geothermal Energy
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New York enacted legislation in July 2005 exempting the sale and installation of residential solar-energy systems from the state's sales and compensating use taxes. The exemption applies to solar-energy systems that utilize solar radiation to produce energy designed to provide heating, cooling, hot water and/or electricity. The exemption does not apply to solar pool heating or other recreational applications. There does not appear to be an expiration date* for this incentive.
The law also permits local governments (municipalities and counties) to grant an exemption from local sales taxes. If a city with a population of 1 million or more chooses to grant the local exemption, it must enact a specific resolution that appears in the state law. The New York Department of Taxation and Finance publishes a variety of sales tax reports detailing local tax rates and exemptions, including those for solar energy equipment. The solar sales tax list (Publication 718-S) is updated several times per year.
*The New York Code contains duplicate sections NY CLS Tax § 1115 (ee). The first pertains to the sales tax exemption for residential solar energy systems and contains no expiration date, while the second contains rules for an unrelated exemption with expiration dates of December 1, 2010 and December 1, 2012. This appears to be a mistake that will not affect the sales tax exemption for residential solar energy equipment. Last Updated (Tuesday, 05 January 2010 01:00)
\\ Technologies Included: Passive Solar Space Heat, Solar Water Heat, Solar Space Heat, Solar Thermal Electric, Solar Thermal Process Heat, Photovoltaic, Wind, Biomass, Solar Pool Heating, Daylighting, Anaerobic Digestion Applicable Sectors: Commercial, Industrial, Residential, Agricultural Length of Exemption: 15 Years Expires: 12/31/2010 Section 487 of the New York State Real Property Tax Law provides a 15-year real property tax exemption for solar and wind energy systems constructed in New York State. As currently effective, the law is a local option exemption, meaning that local governments are permitted decide whether or not to allow it. The exemption was mandatory prior to a 1990 reenactment in which the local option clause was added. The exemption is valid unless a government opts out of the exemption, as opposed to the more common practice of requiring governments to "opt-in" in order to offer an exemption.
Last Updated (Tuesday, 05 January 2010 00:47)
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Technologies Eligible: Solar Water Heat, Solar Space Heat, Photovoltaics, Fuel Cells Amount of Tax Credit: 25 PercentTax Credit Cap: 5000 Dollars Carryover: Excess credit may be carried forward five years Summary:
Enacted in August 1997, this personal income tax credit originally applied to expenditures on solar-electric (PV) equipment used on residential property. The credit, equal to 25% percent of the cost of equipment and installation, was expanded in August 2005 to include solar-thermal equipment. The solar-thermal provisions apply to taxable years beginning on and after January 1, 2006.
Last Updated (Tuesday, 05 January 2010 00:50)
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Written by Administrator
Tuesday, 05 January 2010 00:59 | 
