Solar Panels for Condos and Co-ops in NYC

Most NYC homeowners live in multi-family buildings, such as co-ops, condos and rental properties. Whether for shared common area demand only or for individual unit consumption, you can choose a solar model that matches your board’s specific goals and priorities.

Since multi-family residents and property owners can take advantage of the same tax credits available to single-family homeowners, solar panels for co-ops and condos offer an impressive return while boosting overall property value.

Start Saving

Solar Design Options for Multifamily Buildings


Condo and Co-Op Solar Installation Process

Assessment and Proposal

+

1 WEEK A solar consultant will assess your building and its energy needs, and our designers will develop a solar proposal. You’ll review your project proposal with your board and discuss tax credit eligibility with your accountant.

Project Initiation

+

1 MONTH Sign your contract, and pay a down payment. We’ll draft a project plan set and complete a professional engineering review.

Permit Application

+

2-4 MONTHS Plans are drafted and your permit application is prepared. Once ready, it is submitted to NYC Department of Buildings.

4-6 WEEKS If your building is landmarked, we have an extra step to take. We’ll complete a landmarks survey of your building. Once complete, we’ll submit a visibility summary and approval request to the Landmarks Preservation Commission.

System Installation

+

3-5 DAYS You choose a convenient day for the project to begin. We’ll arrive early and begin installation. Once installation is complete, you’ll be invoiced for the remaining project cost.

Inspection and Meter Swap

+

2 WEEKS We’ll schedule final inspections with Con Edison and the Department of Buildings.

Tax Season

+

We’ll supply state and federal tax forms. You claim your solar tax credits when you file your taxes.

WHAT TO EXPECT ON THE DAY OF YOUR SOLAR INSTALLATION
Whether you’re still considering solar or you’re gearing up for your installation, check out this video for a glimpse into what you can expect on the day of your solar installation.

NYC Co-Op & Condo Solar Incentives


Multifamily building owners can take advantage of the same local, state and federal tax credits available to single-family homeowners meaning solar panels offer an impressive return for co-ops and condos.

Plus: ask us about New York State’s special rebates for low and moderate income buildings, (including HDFC co-ops), additional rebates for solar canopies on multifamily buildings, and community solar options.

%
NEW YORK STATE SOLAR INCOME TAX CREDIT
%
NYC SOLAR PROPERTY TAX ABATEMENT
$
NYS SOLAR REBATE (PER WATT)
%
Federal Solar Income Tax Credit
%
SAVE OVER 75% OF YOUR OUT OF POCKET COSTS
Interactive solar chart slide 0
Interactive solar chart slide bg

Learn More

For full details, click on the incentives above.

Interactive solar chart slide bg Interactive solar chart slide bg
Interactive solar chart slide bg

New York State Solar Income Tax Credit

Co-ops and condos can claim a 25% tax credit against their building’s solar investment. This credit can be divided among individual shareholders or owners on a unit equity basis, and can also be spread out over multiple tax years if an individual is unable to fully utilize it in a single year.

NYC SOLAR PROPERTY TAX ABATEMENT

30% of your solar installation costs can be claimed as a local property tax abatement with the NYC Department of Finance. The abatement is divided into annual 5% installments over a four year cycle.

NYS SOLAR REBATE

New York State solar projects receive a rebate that reduces their upfront contract price. The rebate declines over time based on the amount of solar installed in different regions of the state. For multifamily projects in New York City, the state rebate is currently $1.00 per Watt of solar installed.

Federal Solar Income Tax Credit

30% of your solar installation costs can be claimed as a federal income tax credit. The total credit can be divided among shareholders and owners on a unit equity basis. The credit can be divided over multiple tax years if a client is unable to fully utilize it in a single year.

SAVE OVER 75% OF YOUR OUT OF POCKET COSTS

Going solar in NYC is more affordable than you think. New York City has some of the best financial incentives for residential solar in the country. Through federal, state, and local tax credits and rebates, the cost of your solar panel installation could be covered by more than 75%.

SOLAR CAN HELP YOU COMPLY WITH LL97

If you’re the owner of a multifamily building in New York City, you may be subject to NYC Local Law 97. Passed in 2019, this law sets stringent standards for reducing the greenhouse gas emissions of large buildings throughout the city.

There are around 18,000 multifamily buildings in NYC that are covered by LL 97. Most are low-rise and are either pre-war or post-war. Solar energy is a great option for buildings like these that are working towards compliance.

Learn More

Cost of a Co-Op or Condo Solar Installation

The cost of an installation for a multifamily building varies depending on the size of the building and system design. You can expect your project cost to be offset by up to 75% thanks to the rich tax incentives available here. If you live in a co-op, individual shareholders can claim tax credits on a unit equity basis.

When you go solar with us, your customized project cost includes equipment, installation, permitting, and our unparalleled 30-year warranty package.

Learn More

Solar System Warranty

With a comprehensive warranty package available, we’ve got you and your roof covered.

30-Year Total
System Warranty

All Brooklyn SolarWorks solar systems come with an industry leading 30-year warranty that covers all aspects of the system including the panels and inverter.

Power Production
Guarantee

We guarantee your solar production. If your system fails to perform as expected, we’ll provide cash compensation to cover the loss in savings.

24/7 Real-Time
Monitoring

Systems report performance data to our monitoring staff who are notified if irregularities occur. Data is reviewed monthly to ensure systems are producing as designed. Customers can also track performance via their individual monitoring portal.

Condo & Co-Op Solar Power FAQs

What are the benefits of installing solar on a condo or co-op building?

+

Co-op buildings that install solar can reduce their energy costs and make them more predictable, by either offsetting their common area bills or each individual unit’s bill. Solar is also a great option for multifamily buildings to reduce their emissions and comply with Local Law 97, avoiding future penalties from the city.

Can residents individually benefit from the solar energy generated?

+

In some cases, owners of a co-op can enter into a community solar arrangement. This allows energy credits to be distributed amongst individual residents’ electric bills. If your building opts to offset your common area electric use instead, residents will benefit from more manageable maintenance costs.

What permissions do we need to get from the board and residents to install solar?

+

We cannot install solar for your building without working directly with your board. If you are not a board member, we are happy to provide some resources that you can pass along to your board, but a decision maker must speak with us to move your building forward in the process.

How can we ensure a smooth installation process and minimize disruptions for residents?

+

Our install team can complete most installations within 3-5 days, depending on the project and the weather. All we need is access to your roof and basement, and we’ll work to minimize disruptions as much as possible.

How will the solar system be maintained and monitored?

+

We provide 24/7 system monitoring as part of our warranty package. Our team monitors our fleet constantly to ensure all of our systems are online and fully operational. With our workmanship warranty, we also provide maintenance should any issues arise. We will require a working internet connection in the building to provide monitoring.

How can residents stay informed and involved in the solar installation process?

+

We pride ourselves on clear, timely communication with customers. It can be a long process to get solar installed from the time you sign on – it takes a minimum of three months for our team to obtain the proper permits. Rest assured that you will be kept informed throughout the process as milestones are achieved.

Find out if solar is right for your building

Solar is an excellent solution for building owners in NYC who want to reduce both their electricity costs and their building’s emissions. With rich incentives available, now is truly a great time to make solar a reality for your building.

Talk with us today to learn more about your building’s options and how to get started with solar!

Schedule a Free Consultation