Solar for Developers and Affordable Housing Projects

Thanks to the recent Climate Bill and other federal and state incentives, adding solar to a development project is a no-brainer, especially when the project includes affordable housing.

Solar for Developers and Affordable Housing

Mark IV Enterprises

A 30% tax credit with no cap:

    • Direct pay available for tax-exempt organizations as well as state, local, or tribal government

    • Fully transferable tax credit

    • Solar plus battery storage and standalone battery storage projects are eligible

Affordable housing solar benefits:

    • 10% tax credit for projects located in a low-income community

    • 20% tax credit for projects located in a qualifying low-income residential building project or a low-income economic benefit project

Supplemental tax credits for developers:

    • 10% tax credit for meeting domestic production requirements

    • 10% tax credit if the qualified facility is located in an “energy community,” defined as a brownfield site or an area that has significant employment related to the extraction, processing, transport, or storage of coal, oil, or natural gas

More Solar Incentives for Your Business

30% Investment Tax Credit

This newly-increased incentive means you can save thousands more on a solar project at your business or institution. This credit is now transferrable to a taxable entity and can be applied to storage projects as well.

Equipment Depreciation

Bonus, or accelerated depreciation, allows companies to capture 100% of the depreciation benefit in year one. Available for through tax year 2024.

Solar for Multi-Family and NY-Sun Programs via NYSERDA

NYSERDA provides additional solar savings to qualifying multi-family buildingsThese incentives bring projects $1/watt savings — almost 3 times the amount of the typical NY-Sun Program commercial grant amount ($.35/watt).

These incentives can be combined to cover a majority of the cost of installing solar on your project. Get in touch to tell us a little about your project and to find out what incentives your development is eligible for:

GreenSpark Development Solar Projects

270 on East Apartments

The 270 on East Apartments project in Rochester, NY consists of a 73kW roof-mount solar array installed by GreenSpark in 2022. The project is owned by Dyno Group, a Licensed Contractor and NYS-Certified MBE located in Buffalo, NY.

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Home Leasing

2.2 MW solar array is located in Ontario, NY. GreenSpark designed, developed, and installed the array, which will generate electricity for Home Leasing Affordable Housing Communities throughout the Greater Rochester area.

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Mark IV Solar Array

Mark IV Enterprises

Mark IV Enterprises, one of the largest locally-based real estate developers and property management firms in the Greater Rochester area, hired GreenSpark for their 132.7

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Rendering of PUSH Buffalo's newest affordable housing project with GreenSpark-installed solar panels

PUSH Buffalo

GreenSpark Solar is partnering with PUSH Buffalo to bring clean solar energy to their new affordable housing project.

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Interested in reading more about building with solar in mind? Download our PDF at the link below:

Ready to chat about these historic solar savings for developers and affordable housing projects?

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