New York SBDC Research Network

New this year, you could get a tax break when installing solar energy equipment in a commercial building, the New York State Department of Taxation and Finance announced . Beginning January 1, 2013, the State's 4% sales tax won't be charged on the sale or installation of commercial solar energy systems equipment. The exemption also applies to the 3/8% sales tax imposed in the Metropolitan Commuter Transportation District. The new law also allows cities and counties, including New York City, to provide a similar exemption from their local sales taxes.

There are already a number of financial incentives for homeowners and small businesses looking to install energy efficient systems. As I blogged about last week, the Recovery Act looks to enhance and add to the existing programs. To locate financial incentives by state, check out the Database for State Incentives for Renewables & Efficiency . Incentives are listed for Federal and State programs, including lists specifically for homeowners. If you’re seriously looking to install a photovoltaic system, NYSERDA offers a Solar Electric ( PV ) System Costs and Savings Calculator . You enter your zip code, your monthly electrical bill, and the size of the system you’d like to install. It will estimate installation costs, and add up the tax credits you could expect to receive. To keep up with how the Recovery Act will affect energy savings programs, sign up for NYSERDA's Economic Stimulus Updates LISTSERV .