Roof Replacement Incentives for Existing Buildings – New York

Federal, state, and local programs to encourage energy-efficient building improvements include:

IRS Energy Efficient Commercial Buildings Deduction

Building owners may be able to claim a federal tax deduction for an “energy efficient commercial building retrofit property (EEBRP),” with potential additional deduction for increased energy savings. The program was expanded under the Inflation Reduction Act of 2022.

https://www.irs.gov/credits-deductions/energy-efficient-commercial-buildings-deduction

National Grid Energy Efficiency Programs

Projects with energy-saving measures may qualify for incentives from the National Grid, which also offers financial assistance for engineering studies and building energy surveys to determine savings associated with specific energy upgrades.

https://www.nationalgridus.com/media/pdfs/bus-ways-to-save/ee4932_commercial-custom-nyc_ext.pdf

New York State Historic Preservation Tax Credit Programs

For properties listed on the National Register of Historic Places, owners may be eligible for a federal income tax credit for substantial rehabilitation. A state tax credit is also available to qualifying properties.

https://parks.ny.gov/shpo/tax-credit-programs/

NYC Green Roof Tax Abatement

Properties in New York City with vegetated (green) roofs are eligible for a one-time property tax abatement.

https://www.nyc.gov/site/finance/property/landlords-green-roof.page

NYC Clean Energy Systems Exemption

Owners of roofs that incorporate solar panels or other alternative energy sources, such as wind power or electric energy storage, may apply for a tax exemption that relieves them of any increase in property taxes that results from the energy system installations.

https://www.nyc.gov/site/finance/property/landlords-green-roof.page

New York Solar Tax Credit

Various tax incentives are available from the state, in addition to those offered federally under the Inflation Reduction Act. These include the NYS Real Property Tax Exemption or, for properties in NYC, the NYC Real Property Tax Abatement Program. These are other programs are listed on the NYSERDA website.

https://www.nyserda.ny.gov/All-Programs/NY-Sun/Solar-for-Your-Business/Financial-Support/Tax-Credit