NY Solar Credit on Federal Taxes
In addition, there is a federal tax incentive available. The federal credit is a dollar-for-dollar reduction in the amount of income tax that you owe. For systems installed in 2021, the credit is 22% of the cost of your solar system installation.
This NY solar credit for federal taxpayers isn’t capped, so you can claim 22% of the system cost, regardless of the contract price. You’re eligible for the federal tax credit if you install a system before December 31, 2021.It needs to be at your primary or secondary residence, you need to own the system (leased systems don’t count), and the system should be new and being used for the first time.
The federal incentive is available for Long Island residents even when claiming state incentives.