Your system qualifies for several tax incentives:

• A Federal Tax Credit of 30% of the post-rebate cost
• A New York State 25% Tax Credit capped at $5,000 
• A New York State Sales Tax Exemption 
• A 15-year Property Tax Exemption

Your system also qualifies for rebates:

• Long Island: The LIPA rebate provides a rebate up to $6,600. This can reduce your project cost by the rebated amount.
• New York City: NYSERDA is responsible for rebates for customers in ConEdison territory. As of January 2, 2014, ConEdison customers will receive $1.00/watt. The maximum rebate is $28,750. There is also a NYC property tax abatement (10% of system cost over 4 years).

Federal Business Solar Investment Tax Credit

The key federal-level incentive for solar projects is the federal investment tax credit (ITC), whereby the system owner receives an investment tax credit in the amount of 30% of the total cost of the solar system. Assuming that the system owner can fully monetize the tax credit, this effectively reduces system costs by 30%.

Accelerated Depreciation

Solar systems qualify for a modified accelerated depreciation schedule whereby the system is depreciated over 5½ years. This allows system owners to recover project costs over a very short term.

New York State Property Tax Exemption

Customers are eligible for a property tax abatement equal to 10% of solar project costs. The property tax abatement is distributed over a four-year period (2.5% per year).

Long Island Power Authority - Solar Entrepreneur Program

The LIPA Commercial Solar Entrepreneur rebate structure for Commercial entities is currently $1.75 per watt up to 50 kW. The maximum rebate is $87,500 (50 kW) or 50% of the installed costs, whichever is less(lipower.org/solar).

NYSERDA Incentive Program

The NYSERDA rebate program, Public Opportunity Notice (PON) 2112, provides a "tiered" rebate. As of January 2, 2014, it will be $1.00/watt installed for the first 50 kilowatts installed, and $0.60/watt installed for any remaining capacity up to 200 kilowatts. The rebate is capped at $170,000.

Long Island Power Authority - Solar Entrepreneur Program

The LIPA Solar Entrepreneur Program is an Expected Performance-Based Buydown (EPBB) program, whereby the exact amount of funding awarded is based on the pitch, orientation, location, efficiency, and shading of the PV system.

This program provides a rebate up to $99,000 for commercial entities, and $188,000 for non-profit and municipal entities.