New Yorkers could get tax breaks of up to $3,750 for installing solar systems, beginning next year.
New York Gov. George F. Pataki signed into law on Aug. 19 the "Solar Choice Act," aimed at encouraging solar energy system investments through income tax credits. The Act also would allow residential customers to receive the full retail value of the electric generated by their systems.
The bill requires electric utilities to connect residential solar equipment to the grid and to provide "net metering." Net metering uses a meter to measure the difference between energy supplied and energy generated. Homeowners apply the power generated against monthly energy bills.