What's happening
This bill creates a personal income tax credit for New York residents who purchase and install new residential energy storage systems.
Why it matters
Promotes adoption of home energy storage. by making it more affordable for individuals to purchase and install systems that can store solar, wind, or fuel cell-generated electricity, potentially increasing household energy resilience and encouraging renewable energy use.
Targets higher-quality, environmentally responsible storage devices. by requiring systems to be non-lead acid and sourced from manufacturers or distributors with battery recycling programs, aiming to reduce environmental harm from battery waste.
Supports equitable access and flexibility. by allowing multiple taxpayers sharing a residence to split the credit based on their contributions, and enabling unused credits to be carried forward for up to five years, making the incentive accessible to a broader range of residents.
Aligns tax incentives with state clean energy goals. by specifically linking eligible storage systems to renewable energy generation, helping New York transition toward cleaner electricity and supporting grid reliability through increased distributed energy resources.
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Who cares
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Tax Credit for Home Batteries
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History
- Referred to ways and means
- Referred to ways and means
Full text
2 pagesUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
5664
2019-2020 Regular Sessions
IN ASSEMBLY
February 14, 2019
Introduced by M. of A. ENGLEBRIGHT -- read once and referred to the Committee on Ways and Means
AN ACT to amend the tax law, in relation to establishing a personal income tax credit for the purchase and installation of a new residential energy storage system
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. Section 606 of the tax law is amended by adding a new subsection (g-3) to read as follows:
(g-3) Credit for residential energy storage systems. (1) General. A taxpayer shall be allowed a credit against the tax imposed by this article for the purchase and installation of a new qualified residential energy storage system by the taxpayer in his or her primary or secondary residence located in this state. The amount of the credit shall be twenty-five percent of the expenditure incurred in purchasing and installing a new qualified residential storage system, but not to exceed the maximum credit of seven thousand dollars.
(2) Energy storage device. An energy storage device is a commercially available energy storage device of a non lead acid type, capable of collecting energy, storing such energy for a period of time, is suitable for indoor or outdoor use, and is manufactured by a manufacturer or sold by a distributor which has a battery return or recycling program.
(3) New qualified residential energy storage system. A new qualified residential energy storage system is a system whose original use began with the taxpayer which is composed of an energy storage device or energy storage devices that are connected to any new or existing solar electric generating equipment, as defined in paragraph (d) of subdivision one of section sixty-six-j of the public service law, fuel cell electric generating equipment, as defined in paragraph (g) of subdivision one of section sixty-six-j of the public service law, or wind electric generating equipment, as defined in paragraph (f) of subdivision one of section
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD09508-01-9
A. 5664 2
sixty-six-1 of the public service law, which can be either on grid or off grid and is capable of delivering electric power for residential use for a period of time at not less than three kilowatt hours under certain loading conditions.
(4) Multiple taxpayers. Where a new qualified residential energy storage system is purchased and installed in a residence shared by two or more taxpayers, the amount of the credit allowable under this subsection for each such taxpayer shall be prorated according to the total expenditure for such system contributed by each taxpayer.
(5) When credit allowed. The credit provided for in this subsection shall be allowed with respect to the taxable year in which the new qualified residential energy storage system is placed in service.
(6) Carryover of credit. If the amount of the credit and carryovers of such credit allowable under this subsection for any taxable year shall exceed the taxpayer's tax for such year, such excess amount may be carried over to the five taxable years next following the taxable year with respect to which the credit is allowed and may be deducted from the taxpayer's tax for such year or years.
§ 2. This act shall take effect immediately, and shall apply to the tax year in which it shall take effect and all subsequent tax years.
Reflowed for reading: line numbers and page breaks removed. Cite the official text.
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