Rebates
LIPA is currently offering rebates for the
installation of Photovoltaic (PV) systems in LIPA's
service territory. Rebate availability is on a first-come,
first-serve basis, based upon application, and pre-approval
by LIPA (prepared by Energy by Choice, Ltd). LIPA
PV Rebate Availability
Incentives
Direct incentives of $3750.00 per kilowatt(DC),
of installed equipment. Preapproval applications
are free and encouraged by LIPA and Energy by Choice.
Incentives are capped at 10 Kilowatts.
Additional
Incentives for Schools, Government and Not For
Profit customers
LIPA is offering an extra
$1000 per kilowatt above the current
rebate level listed directly above.
This extra incentive is available
only to Schools, Government and Not
For Profit customers. This extra
incentive is available on a first
come, first served basis. Incentives
are capped at 10 Kilowatts.
Federal,
State and County Tax Incentives
Recent Federal, State and County governments
have joined together to offer additional tax
incentives to help promote the installation of
Solar Electric (Photo Voltaic or PV) equipment.
These recent incentives are in addition to LIPA's
incentives for PV installations.
Investment Tax Credit
for Commercial Customers
Commercial customers can take advantage of the business
energy tax credit. Anyone who invests in or purchases
qualified solar energy property can take the credit,
up to 30% of the investment or purchase and installation
amount, when income tax forms are filed as well as
accelerated depreciation. For IRS form Investment
Credit 3468, please visit http://www.irs.gov/pub/irs-pdf/f3468.pdf
As part of the recent Federal
Energy bill, the Federal Government offers additional
tax incentives for the purchase of PV equipment:
- Residential customers are
being offered up to a 30% tax credit (with a cap
of $2,000) for PV.
- Business customers are being
offered up to a 30% tax credit (with no cap) for
PV.
New
York State Solar Tax Credit
In addition to LIPA's rebate, homeowners
can take advantage of New York State's 25% tax credit
towards the total cost of a PV system, with a maximum
credit of $5,000. If your tax credit is greater than
the amount of tax you owe New York State, the balance
will not be refunded to you. However, any credit
amount in excess of the tax due can be carried over
for a maximum of up to five years. Download
New York State's 25% tax credit
| Incentives |
Tax
Credit |
Incentive
Cap |
| New
York State |
| •
Residential Customers |
25% |
$5,000 |
| •
Commercial Customers |
NA |
NA |
| Federal |
| •
Residential Customers |
30% |
$2,000 |
| •
Commercial Customers |
30% |
No Cap |
| Nassau
County |
No
sales tax |
- |
| Suffolk
County |
No
sales tax |
- |
| New
York State |
No sales
tax |
|
New
York State's Real Property Tax Law
A 15-year real property tax
exemption through New York State's
Real Property Tax Law for solar systems
installed in New York State. Learn
more
Please note, each county, city,
town, village and school district on
Long Island may choose to disallow
the exemption as noted in NYS Office
of Real Property Services Section 4.01
- RPTL Section 487.
For the additional perspective
on rebates and tax incentives, please follow the
links listed below.
By taking advantage
of LIPA's rebates as well as State and Federal tax credits
Solar Electric systems and freedom from ever rising utilities
bills has never been more affordable.