Gov. Cuomo makes solar power more affordable to homeowners, businesses
ALBANY, N.Y. - Governor Andrew Cuomo signed a series of bills Friday as part of the NY-Sun initiative that will make solar
energy more affordable for homeowners and businesses as well as create new jobs
in the state's growing solar energy sector.
The new laws include statewide tax credits for the lease of solar equipment and
power purchase agreements, which takes effect immediately. The tax credit would be available for up to 14 years with a maximum of $5,000
for all years.
The law also includes statewide sales tax exemptions for commercial solar energy systems equipment from sales taxes, and allows municipalities and cities to exclude these costs
from local sales tax, effective January 1, 2013.
Lastly, the law includes an extension of the real property tax abatement in New York City for solar
installations through 2013 and 2014, effective January 1, 2013.
NY-Sun calls for the installation in 2012 of twice the customer-sited solar
electricity capacity that was added during 2011, and quadruple that amount in
For more information on the legislation visit
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