Making Solar Power Easy and Affordable in NYC
Solarize LES (Lower East Side) is a campaign supported by NY State to accelerate the installation of SOLAR ELECTRIC POWER in New York City.
By gathering together interested home and building owners, Solarize LES helps you get the best deal on solar power. While most contractors decline small jobs on individual buildings, Solarize LES organizes many projects in close proximity within a short span of time. This creates a win-win economy of scale that benefits both building owners and contractors.
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- 0% up front cost, just buy the electricty generated
- Lease
- Own
Benefit from Public Rebates and Tax Credits:
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NEW YORK CITY PROPERTY TAX ABATEMENT: 20% reduction in the annual NYC property taxes that you owe for the first four years after you install a solar electricity system; 5% is applied each year
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NEW YORK STATE INCOME TAX CREDIT: 25% of upfront cost, capped at $5,000; can roll over for up to five years
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FEDERAL SOLAR INVESTMENT TAX CREDIT: 30% of upfront cost; expires at the end of 2021; can carry forward to the next tax year
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*New York State Historic Homeownership Rehabilitation Tax Credit: 20%; the unused credit may be taken, as a refund if your household adjusted gross income is less than $60,000. *Only applies to national register buidlings in qualifying census tracts.
Want To Own Your Solar Electric System?
Solarize LES + Solar One will help you understand all available public rebates and tax credits that lower the cost of owning your solar system.
Financing options that reduce your up-front payment include:
- NYSERDA’s Green Jobs-Green New York Program offers a 3.49% unsecured loan with a 5, 10 or 15 year term.
- You may qualifiy for a “bridge loan,” a 0% interest, zero payment loan for a 6, 12, or 18 month period to reduce your upfront expense while waiting for your tax returns.
