Summary
This bill would establish various tax credits which will assist in offsetting the initial costs of constructing and installing solar and wind energy system equipment and fuel cell electric generating equipment

Explanation

Solar, wind, and other renewable energy technologies are beneficial to New York’s environment and economy. By providing sources of electricity with little or no pollution, they help displace the use of polluting fossil-fuel based electricity. Generating power from clean sources on-site also helps reduce stress on the state’s aging electric distribution and transmission infrastructure.

Providing the owners of these energy systems limited exemptions from certain business taxes is one way, among many approaches, to encourage the installation of these technologies on a broader scale. This will help reduce air pollution, lessen the state’s contribution to global warming, and provide safe and reliable electricity.

Environmental Advocates of New York supports this bill.