New York Solar Incentives
Although the Empire State has lagged behind some of its neighboring states with regard to widespread commercial solar conversion in the past, the outlook for large-scale photovoltaic installments in New York has improved dramatically due to recently announced solar incentives.
New York Sun Initiative
Governor Cuomo has led the development of The NY-Sun Initiative, a dynamic public-private partnership that seeks to aggressively drive growth in the solar industry across New York. As part of a balanced Statewide renewable energy policy, NY-Sun aims to quadruple the customer-sited solar photovoltaic (PV) capacity installed by 2013. In early 2013, Governor Cuomo proposed to extend the NY-Sun Initiative for an additional 10 years through 2023.
NYSERDA PON 2589 – Competitive Solar PV Program
The New York State Energy Research and Development Authority (NYSERDA) provides large-scale corporate solar system owners with attractive benefits through the PON 2589 program (previously PON 2156 and PON 2484), which will provide eligible solar projects with total awards of $107 million through 2013. The PON 2589 program has two scheduled application deadlines: March 14, 2013 and August 29, 2013.
Bottom Line for New York Businesses
New York is now one of the most attractive states in the U.S. for businesses considering going solar. The combination of the NY-Sun's NYSERDA programs, federal solar incentives, and local incentives including property tax abatements, provide compelling investment returns for corporate solar photovoltaic projects.