Buyer's Guide 2024
New York City - Property Tax Abatement for Photovoltaic (PV) and Energy Storage equipment
Solar & Battery Regulation & Incentive Programs
Program Overview
- Category
- Financial Incentive
- Program Type
- Property Tax Incentive
- Implementing Sector
- Local
- State
- New York
- Eligible Storage Technologies
- Solar Photovoltaics
- Website
- https://www1.nyc.gov/nycbusiness/description/solar-electric-generating-systems-tax-abatement-program
- Incentive Amount
- Installed from August 5, 2008 to December 31, 2010: 8.75% of system expenditures per year for 4 years (total of 35%);
Installed from January 1, 2011 to December 31, 2012: 5% of system expenditures per year for 4 years (total of 20%);
Installed from January 1, 2013 to December 31, 2013: 2.5% of system expenditures per year for 4 years (total of 10%)
Installed from January 1, 2014 to December 31, 2016: 5% of the system expenditures per year for 4 years
Installed from January 1, 2017 to December 31, 2018: 5% of the system expenditures per year for 4 years - Maximum Incentive
- $62,500 annually or the amount of real property taxes owed during a year
- Equipment Requirements
- Systems must be located within a city with a population of at least 1 million (i.e., New York City)
- Administrator
- New York City Department of Buildings
- Applicable Sectors
- Commercial, Industrial, Nonprofit, Residential, Schools, Multifamily Residential, Institutional
- Budget
- Start Date
- 08/05/2008
- End Date
- 03/15/2024
- Last Updated
- 12/21/2021
- Funding Source
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