Home solar panel installations are eligible for both state and federal tax credits. You may also qualify for savings from your utility company depending on the specific region you live in.
Both residential and commercial property owners are eligible for savings on their solar panel installations.

Based on the scope of your project.
- 30% of project cost in federal tax credits
- 25% of project cost in NY state tax credits
Claimed as a non-refundable tax credit when filing your personal income tax return.
How to Claim
Install qualified photovoltaic systems and claim the credits with the information shared by your installer.
Federal Taxes: Form 5695
NY State Taxes: Form IT-255
For assistance applying for solar tax credits (for example, for guidance on what to handoff to your CPA before they file your taxes to ensure the largest credit possible), you can contact savings@castlepay.co or schedule a free consultation here.
Required Information
Your installer should provide you with:
- Final project cost; and
- Information on any other incentives they used for the project.
Both of these will be needed when claiming any state or federal credits on your solar project.
Timeline
Rebates are applied at point-of-sale and/or on your monthly energy bill, depending on your region.
Tax credits are claimed when you file your income taxes for the year.