Governor Cuomo's proactive and forward-thinking proposal clears up an ambiguity in the tax code, providing certainty for solar businesses.
WASHINGTON, DC - In a move toward clarifying the tax code, New York Governor Andrew Cuomo today announced that clarification of sales tax treatment for solar energy will be included in his budget proposal being sent to the state legislature. After reviewing the proposal, Rhone Resch, president and CEO of the Solar Energy Industries Association (SEIA) issued the following statement:
"We applaud Governor Cuomo for his continued steps towards making New York a solar-friendly state to live and do business. Governor Cuomo's proactive and forward-thinking proposal clears up an ambiguity in the tax code, providing certainty for solar businesses.
"New York has seen a solar boom in the past few years, largely due to Governor Cuomo's smart leadership on energy issues. Today's clarification further encourages the development of a state-based solar industry that will have long-term positive fiscal implications. In addition, we applaud the governor's continued commitment to addressing community net metering. With his leadership, we see a sunny future for solar in New York."
The 338 MW of solar energy currently installed in New York ranks the state 9th in the country in installed solar capacity. There is enough solar energy installed in the state to power 57,000 homes. In 2013, $343 million was invested in New York to install solar for home, business and utility use. This represents a 12 percent increase over the previous year and is expected to grow again when all the numbers are in for 2014.