NEW YORK STATE SENATE PASSES PV STORAGE SUPPORT

Senate Passes Earth Day Bill Package

April 23, 2013 (New York State Senate)

“The New York State Senate…[passed a package of bills including one that promotes] the use of renewable energy…[S2522] would help attract and retain these growing industries by providing a clear incentive for businesses to make capital investments in solar and energy storage manufacturing and development by providing tax credits. It would create new jobs, increase economic investment, reduce harmful emissions, and help New York meet its goals for renewable energy development.”

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“The legislation builds upon Governor Cuomo's expansion of the “NY-Sun” program…by providing a refundable tax credit up to a maximum of $25 million per year for four years to further increase manufacturing, development, and research for solar or battery storage industries. Manufacturers might also be eligible for a 10 percent credit for the expenses associated with conducting research or manufacturing…”

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