Yes! There are many:
1. New York State Historic Homeownership Rehabilitation Tax Credit
This program provides a state income tax credit equal to 20% of qualified rehabilitation costs for owner-occupied historic homes, up to a credit value of $50,000. Eligible expenses include repairs and upgrades that preserve the historic character of the property.
2. New York State Solar Equipment Tax Credit
Homeowners can claim a tax credit equal to 25% of the total installed cost of a solar panel system, up to $5,000. This credit applies to both purchased and leased systems and can be combined with federal tax credits for additional savings.
3. NY-Sun Incentive Program
Administered by the New York State Energy Research and Development Authority (NYSERDA), this program offers incentives and financing options to reduce the cost of installing solar panels. Incentives are provided directly to participating contractors, who pass the savings on to homeowners.
4. New York City Solar Property Tax Abatement
For properties within New York City, this program provides a property tax abatement of 5% per year for four years, totaling 20% of the solar installation cost. This abatement is applied after other incentives and is capped at $62,500 per year or $250,000 total.