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As one of the top solar states in the country, New York has been making headway in providing attractive incentives for entrepreneurs hoping to start their business’s solar energy journey.
Business owners are constantly on the lookout for solutions that will minimize operating costs without sacrificing efficiency levels. One of the best steps you can take to cut monthly overhead costs while keeping your business running as usual is to invest in solar! With these stellar incentives, there’s no time like the present to consider implementing solar panels for your commercial space.
Tax Credits
The benefits of solar don’t just stop at lowered monthly utility bills! You’ll be pleased to discover that multiple tax credits are offered for those who choose to switch to solar. With both federal and state tax credits offered, there are many ways to save.
Federal solar tax credits, like the Investment Tax Credit (ITC), allow business owners to reduce their federal tax liability by up to 26%, all thanks to their PV solar system! While this only applies to those who purchase their system outright and have met the necessary income requirements, it’s definitely a perk of going solar.
New York also offers a statewide solar tax credit, the New York State Solar Equipment Tax Credit, to help business owners save thanks to their solar investment. This credit can generously reduce up to 25% or $5,000 of your overall solar expenses. It also applies to those who have not purchased the system outright or are leasing their solar system.
Megawatt Block Incentive
The opportunities for savings are truly endless thanks to the glowing solar incentives in New York. One of the most advantageous incentives, the Megawatt Block Incentive, is a generous offer for New York business owners, providing a dollars-per-watt rebate for their commercial solar systems. Depending on the level of solar energy production in your area, your subsidy could be as high as a dollar a watt!
Commercial Solar Panel Experts
Your business deserves the highest quality care and products to support your commercial energy needs. Trust our team at PurePoint Energy for expert installation and superior customer service. Give us a call today at (203) 989-2905 or reach out to us through our online contact form for more information.
