"Affordable housing providers, including religious organizations and nonprofits, can't use the benefit since they're often already exempt from property taxes or pay reduced ones. Solar installations are pricey, and access to the abatement can cut the upfront costs by up to $20,000, what can be 'the difference between these projects penciling out or not.'"
"'It makes sure that every building in New York City basically becomes eligible for a version of the solar tax abatement, and that's bringing parity,' said Assemblymember Robert Carroll, the bill's sponsor."
"'It would help more owners comply with the city's Local Law 97, which requires they lower their properties' greenhouse gas emissions to meet a set of increasingly strict benchmarks.'"
New York City's current solar incentive, a property tax abatement, is inaccessible to many nonprofit and affordable housing providers. A new proposal in Albany seeks to address this by offering direct payments for solar installations, making it more affordable for these organizations. The existing program, which covers 30% of installation costs, does not benefit those already exempt from property taxes. Advocates argue that this change would help reduce energy costs and support compliance with local emissions regulations.
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