Solar Power Just Got Cheaper in New York

Gov. Andrew Cuomo signed a package of bills last week designed to help New Yorkers take advantage of solar power across the state.

The initiative offers tax breaks to homeowners and businesses who lease or purchase solar equipment for energy consumption.

"These bills demonstrate the state’s commitment to reducing energy costs, growing our green energy sector, creating jobs, and protecting the environment,” Cuomo said in a statement.

One of the new tax incentives gives homeowners a credit of up to $5,000 over 14 years if they lease solar energy equipment for use on their property. 

Another provision exempts solar energy equipment bought for commercial equipment from sales taxes.

The law will go into effect on Jan. 1, 2013.

We'd love to hear from Bayside Patch's readers. Would you rent solar energy equipment for use in your home?