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The state of New York, in a bi-partisan effort, passed several tax incentive measures this summer to encourage solar power. Legislation was passed despite a slowdown on the federal level to enact solar power incentive legislation.
Governor Andrew Cuomo approved a series of bills that will ease the tax burden for individuals and businesses investing in solar energy.
“The bills signed today continue to build momentum for the state’s NY-Sun Initiative by accelerating the installation of solar power while making it a more affordable option for residents and businesses,” says Governor Cuomo. “Together with other NY-Sun incentives, these bills demonstrate the state’s commitment to reducing energy costs, growing our green energy sector, creating jobs, and protecting the environment.”
Current terms of the NY-Sun program calls for the installation in 2012 of twice the customer-sited solar electricity capacity that was added during 2011, and quadruple that amount in 2013.
The New York tax policies, which received bipartisan support, will help New York continue to drive toward its renewable energy goals, says the Solar Energy Industries Association (SEIA)
There are already about 7,500 solar PV installations in New York, capable of producing about 121 megawatts (MW) of clean energy (enough for 20,000 homes).