Co-ops and Condos in Historic Districts Can Go Solar for Almost Free

Even as New York State falls behind on its goal to power the electric grid from clean, renewable sources, New Yorkers are ahead of schedule in installing solar panels — a viable tool for cutting building carbon emissions and complying with Local Law 97. For people living in certain historic districts, there's an added reason for going solar: it's nearly free.

It's called the Historic Homeownership Rehabilitation Tax Credit (HTC), and for people living in qualifying neighborhoods, it can cover close to 100% of the cost of solar installation when combined with other federal, state and city incentives, Brownstoner reports.

The HTC program includes a 20% tax credit for eligible renovation expenses, including the installation of solar panels, provided they're not visible from the street or other public spaces. Other eligible expenses include chimney repairs, window and door replacements, electrical wiring and lighting fixture upgrades, and roof repairs.

To qualify for HTC, the property must be within a registered historic district or listed on the state or national Register of Historic Places. The property must also be located in a qualifying census tract, and qualifying co-ops and condos must be owner-occupied.

Eligibility for the tax credit is limited to certain neighborhoods. If you live in one of these neighborhoods, you may qualify: Sunset Park, Prospect Lefferts Gardens, Crown Heights or Flatbush in Brooklyn; Ridgewood, Sunnyside or Jackson Heights in Queens; Harlem in Manhattan.

Qualifying census tracts are subject to change over time, as some neighborhoods gain eligibility while others lose it. So if your property currently qualifies, you're advised to act promptly.

To get more information on the HTC and other solar incentives, visit Brooklyn Solar Works. The city also offers free consultation for co-op and condo boards through its NYC Accelerator.