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Solar Energy System Equipment Credit

You are entitled to claim this credit if you:

  • purchased solar energy system equipment,
  • entered into a written agreement for the lease of solar energy system equipment, or
  • entered into a written agreement that spans at least ten years for the purchase of power generated by solar energy system equipment not owned by you.

The solar energy system must use solar radiation to produce energy for heating, cooling, hot water, or electricity for residential use.  The system must also be installed and used at your principal residence in New York State.

How much is the credit?

The credit is equal to 25% of your qualified solar energy system equipment expenditures and is limited to $5,000.

  • The solar energy system equipment credit is not refundable. However, any credit amount in excess of the tax due can be carried over for up to five years.

For additional information on claiming this credit, see Form IT-255, Claim for Solar Energy System Equipment, and its instructions, Form IT-255-I

Updated: December 11, 2013