Sunzera understands that tax credits and rebates can work differently for each project so we are continually evaluating your specific project to get the right amount for you. The right amount means that we will manage factors that can limit your credits and rebates and work with you so that the appropriate level of savings is applied to lower the cost of your solar power project.
The Federal and New York State governments use tax credits and rebates to encourage homes and businesses to employ solar power.
Sunzera will pilot your project through the right credits and rebates and make sure all the paperwork is prepared to pursue and apply the savings to the cost of your solar power system.
NYSERDA manages New York State’s solar refunds to homes and businesses. Sunzera will look at a number of programs for your project, but the primary program used is PON 2112 for residential and non-residential. This program is funded by surcharges on electric bills and is only available to homes and businesses that currently pay these surcharges (RPS/SBC on your monthly electric bill). These refunds are designed to drop over time as the cost of solar drops and as the funds allotted for these programs are expended.
To qualify for these rebates, a building audit, design application, agreement form and payment form has to be filed with NYSERDA and this process is included in the cost of the system. These rebates will reduce the amount of Federal Tax Credit that your project qualifies for. At the current rates it may be more cost efficient for your project to go for NYSERDA. Sunzera will evaluate your project specifics to determine if this rebate is right for your project.
The Federal Investment Tax Credit (ITC) provides a tax credit equal to 30% of the cost of a solar power system. This credit was just extended through 2018. If a NYSERDA rebate is used for your project, the 30% applies to the project cost minus the NYSERDA rebate. If you purchase the solar power system, your taxes would be reduced when you file you federal tax returns, and carried over for up to 5 years. If you lease your system, Sunzera would apply the tax credit to reduce the lease payments for your system.
New York provides a 25% tax credit for solar power systems installed on your primary residence. The tax credit is capped at $5,000. The size of your system should be considered relative to this tax credit as any project which costs above $20,000 would be capped out at the $5,000 maximum. This tax credit can only be claimed by the homeowner, even if the system is leased or under a power purchase agreement (minimum 10 year PPA). The credit would be applied by reducing your taxes when you file your state tax returns and carries over for up to 5 years.
Some businesses with lease/PPA agreements will qualify for MACRS 5 year accelerated depreciation. Sunzera will evaluate if your project qualifies and discuss the cost savings for your project.
71 Goodway Dr. S. Suite. 1
Rochester, New York 14623
Serving Rochester, Buffalo, Syracuse, Southern Tier NY
Sunzera needs to meet with you before we can determine the solar power system that meets your needs. System size and design, tax credits, rebates, your utility rates, and your level of warranties and services are among the many variables that affect the pricing of your specific project.