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Go Solar with NYC Support & Tax Benefits

Don’t miss incentives, tax benefits, and personalized support to go solar.

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Learn more about the benefits of solar with NYC Accelerator

Solar energy is a cost-effective, reliable, and environmentally sustainable investment that can help provide a brighter future for all of New York City. Solar panels generate electricity from the sun, reducing building operating expenses and carbon emissions. When you install solar, you can cut costs and bring your building into compliance with local laws. 

Take advantage of savings and long-term benefits of installing solar:   

  • Cover some installation costs with tax benefits and rebates*
  • Comply with Local Laws 92, 94, and 97— NYC’s solar and carbon-reduction requirements
  • Save with a system designed to last for 25+ years

*Each building may be eligible for different incentives. Please contact NYC Accelerator to determine which incentives apply to your building type.   
 

Making Sense of Changes to Solar Incentives 

Increasing energy demand and the need for cleaner alternatives makes solar a popular option. While there is growing recognition of the benefits of solar, there are some new financial considerations. Here is an overview of recent changes.  

Who can still get solar incentives?
  • Homeowners, co-ops, and condos: Can still get a federal tax credit of 30% off the cost of solar installation, but only for systems installed by Dec. 31, 2025.
  • Rental buildings, including multifamily; nonprofits; places of worship; and community solar: Can still get the Commercial Solar Tax Credit, if the project is finished by Dec. 31, 2027, or safe harbored by July 4, 2026.
    • Projects under 1.5 MW-AC can be safe harbored if either:  1) “physical work of a significant nature” has started, or 2) the contractor has incurred at least 5% of expenditures toward the total project
    • Projects greater than 1.5 MW-AC (large-scale community solar developments) will be able to meet safe harbor criteria only by starting “physical work of a significant nature.”
  • Affordable housing: May qualify for the NYSERDA Multifamily Affordable Housing Incentive (MAHI) rebate, worth $1.60–$2.00 per watt. Program funds are expected to last less than two years. 
What programs are ending or changing soon?
  • Federal Homeowner Solar Tax Credit: Ends Dec. 31, 2025.
  • Federal Commercial Tax Credit: Ends Dec. 31, 2027 (unless safe-harbored by July 2026).
  • NYSERDA Base Rebate ($0.60/W): Phasing out in fall 2025. 

Additionally, beginning in 2026, projects that rely on certain imported equipment may no longer qualify for the federal tax credit. At the same time, solar panel costs are already rising due to new tariffs on imports, making projects more expensive. 

With incentives shrinking and costs rising, does solar still make sense?
  • Yes, but timing is critical. For homeowners, co-ops, and condo boards, time is quickly running out to install before the end of 2025 while the 30% federal tax credit is still available.
  • For affordable housing, the MAHI rebate plus tax credits makes the next two years, 2026-27, the best opportunity.
  • For nonprofits and commercial buildings, projects that start soon can still qualify for credits through 2027. 

Waiting means losing incentives and paying more for equipment. 

Is now a good time to move forward?

Yes, for two reasons: 

  1. Deadlines are closing in. Federal incentives are ending soon.
  2. Costs are going up. Tariffs on imported panels are making projects more expensive. 

Acting now means greater savings. 

What other benefits are available?

Depending on the project, you may also qualify for: 

  • Bonus Tax Credits for affordable housing, projects in low-income communities, or using U.S.-made equipment.
  • NYC Property Tax Abatement for eligible buildings.
  • State Solar Tax Credit for some residential taxpayers.
  • Depreciation of federal and state benefits for commercial properties.
  • Historic Building Tax Credit (if applicable). 
What is the bottom line?
  • Some incentives are going away, but not all.
  • Affordable housing projects, nonprofits, and community solar still have strong support.
  • Homeowners must act before Dec. 31, 2025, to get the 30% tax credit.
  • Equipment costs are rising, so the longer you wait, the more expensive solar gets. 

The best move is to get started now. Determine what your building qualifies for and make a plan to lock in incentives before they are gone. 

Where can I find more information? 

Request to speak with an NYC Accelerator solar specialist or check out the blog post,  “The Impact of HR1 (“The President’s Big Bill”) on Rooftop and Community Solar,” by NYC Accelerator’s partner, Solar One.  

 

NYC Accelerator Makes It Easy to Go Solar 

Work one-on-one with an expert to see if solar is right for your building. You’ll get: 

  • Free technical assistance from planning to installation
  • A free, custom assessment of feasibility and cost savings
  • Help assessing incentives, rebates, and tax credits
  • Connection to service providers and help unlocking competitive rates 

Contact Us

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Solar Savings

 

Rebates

Current rebate levels are still available for your building. Contact a solar specialist to see which rebates may apply. 




 

Tax Credits 

Cover at least 30% of upfront costs with the solar tax credit. Take advantage of New York State solar equipment tax credit to receive up to 25% of qualified expenditures, up to $5,000 per shareholder/owner. 

Tax Abatement

NYC offers property tax abatement up to 30% starting in 2024 for eligible buildings. 

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