Senator Montgomery's Solar Energy Bill Tax Credit Bill (S752/A6420) Passes Senate. This bill would raise the current allowable personal tax credit for solar energy equipment from $5,000 to $10,000, further encouraging New Yorkers to invest in environmentally friendly renewable energy sources like solar energy. The allowable personal tax credit for solar energy equipment has not been increased since 2005 despite the fact that the purchase and installation costs remain higher than most New Yorkers can afford.
Senator Montgomery's bill has passed the New York State Senate two years in a row with bipartisan support. It now moves to the Assembly for consideration.
To learn more about the legislation, visit https://www.nysenate.gov/legislation/bills/2019/s752