Carroll’s Bill Providing Property Tax Abatements for Solar and Energy Storage Projects in New York City Passes the Assembly

Helps the City and State meet its climate goals by extending and improving existing tax benefit programs

Albany, NY Assemblymember Robert Carroll (D/WF-Brooklyn) announced that his bill (A.6113B/S.6640B) to extend and improve New York City’s program for property tax abatements for solar electric generating systems and electric energy storage systems passed the Assembly today. This legislation is supported by New York City, which assumes the cost of the tax abatement.

“We must make every effort to combat climate change and transition away from fossil fuels. My bill will not only help the City and State meet its climate goals but also create thousands of good paying jobs and reduce utility costs for consumers,” said Assemblymember Carroll. “This legislation builds on existing programs, which were also authorized by bills I was the prime sponsor of in prior sessions and is an important part of my ongoing work to promote and incentivize renewable energy.”

The bill extends the property tax abatement, which was set to expire at the end of this year, to 2035 better aligning it with federal solar tax credits, it allows buildings to use the solar abatement and storage abatement in conjunction when previously they had to choose between technologies, and it makes solar parking canopies eligible for the program opening up parking lots as spaces that can contribute to NYC’s clean energy goals.

“Extending and expanding the NYC solar and storage property tax abatement will empower more New Yorkers to afford solar and energy storage systems so we can make continued progress toward New York’s ambitious climate goals. The New York Solar Energy Industries Association applauds Assemblymember Carroll for championing this legislation and thanks Mayor Adams, and the whole team at the Mayor's Office of Climate and Environmental Justice, for their steadfast support,” said Noah Ginsburg, Executive Director - New York Solar Energy Industries Association.

New York State’s Solar Energy Industries Association estimates that in the first five years of the program the bill will save New Yorkers over $800 million on their utility bills, create over 2,000 jobs, and reduce carbon emissions by the equivalent of taking 173,000 cars off the road for one year.