Where environmental advocacy and ROI intersect
COMMERCIAL SOLAR ELECTRIC INCENTIVES
For Long Island Commercial & Public Buildings
|
||||||||||||||||||||||||
Click To See Estimated Savings For a 50kW System
Financial Incentives Available
Rebates and Tax Credits for Commercial Solar Electric
- LIPA Commercial Rebate:
$1,300 per kilowatt, up to 50 kilowatts for a maximum of $65,000 - LIPA Rebate for Schools/Government/Not-for-profit:
$1,750 per kilowatt, up to 50 kilowatts for a maximum of $87,500 - Accelerated Depreciation: 85% of the gross investment (MACRS)
- Federal Tax Credit – Commercial: 30% of the gross investment
- New York State Real Property Tax: 15-year exemption
CONTACT ENERGYBY CHOICE FOR AN ESTIMATE OF YOUR INCENTIVES
Financial Incentives Explained
Rebates and Tax Credits for Commercial Solar Electric
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).
Incentives/Commercial
Direct incentives of $1,300.00 per kilowatt of equipment up to 50 kilowatts.
Additional Incentives for Schools, Government and Not For Profit customers
LIPA is offering an extra $450 per kilowatt above the current rebate level listed directly above up to 50 kilowatts, for a maximum rebate of $87,500. 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 and cannot exceed 65% of the contract value. http://www.lipower.org/.
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 (Photovoltaic 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. In addition the US Treasury Department will provide early payment via a Grant within 60 days of your system being made operational.
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: Business customers are being offered up to a 30% tax credit (with no cap) for PV plus accelerated depreciation (MACRS).
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
This information is accurate to the best of our knowledge. Contact Energy by Choice for more information or contact your accountant.
