SEIA applauds New York tax exemption for distributed solar

New York is proving to be one of the top growth states for PV. Figures show that New York added 147 MW of PV in 2014. This growth has potentially been supported by a move to tax exempt power generated by distributed solar.

New York Governor Andrew Cuomo signed into law the tax exemption, in the state’s 2015-2016 budget today.

“By clearing up a nagging ambiguity in the tax code, businesses and homeowners across the state can now make firm plans for the future, allowing New York’s impressive growth in solar installations to continue,” said SEIA President Rhone Resch. “Governor Cuomo and legislative leaders deserve tremendous credit for their unwavering commitment to New York’s clean energy future. And clearly, their efforts are paying big dividends.”

New York ranked seven amongst states for solar capacity added in 2014, according to SEIA figures. The result was published in SEIA’s U.S. Solar Market Insight 2014 Year in Review. Through taking the state’s PV up to 397 MW in by year’s end, New York recorded a growth rate of 105%. Its NY-Sun initiative aims to see 3 GW of PV installed by 2023.

In terms of market segment, residential PV saw the most impressive growth, with 89 MW added in 2014, followed by 49 MW in commercial arrays and 9 MW utility scale.

SEIA expects 2015 to be “another record breaking year for solar across the state.” SEIA figures have solar investment in New York standing at US$451 million, an year-on-year increase of 33%.

On top of support for solar installations, New York State has been active in encouraging investment into solar manufacturing. SolarCity is constructing its 1 GW fab in Buffalo, using its Silevo technology. On the encouragement of state officials, Japanese thin film producer Solar Frontier has also carried out a feasibility study into establishing a fab in the state – although the results of this have not been made public.