Can the New York solar tax credit be claimed separately on both PV and solar thermal?

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  • Soybean
    Junior Member
    • Feb 2013
    • 1

    Can the New York solar tax credit be claimed separately on both PV and solar thermal?

    The New York State residential solar tax credit refunds 25% of the cost of a solar energy system with a cap of $5,000. A solar electric system I'm considering will easily hit that cap. If I'm also installing a solar water heating system, can I claim the tax credit for that system separately, or does hitting the cap on the electric system preclude me from claiming it on the solar thermal system?

    If the answer is "you can only claim it once," does installing the different systems in different years make a difference?

    Thanks.
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