New York development funding, grants and tax incentives
Grants, loans, tax credits, tax abatements, project financing, solar and storage incentives and utility programs a New York development project can use, with the federal programs that reach New York projects marked Federal. For each: what it is, whether it is taking applications and the official source. Subscribers also see what each is worth, the next deadline, who can apply, who cannot, the steps and the conditions to watch.
Grants
Money that does not have to be repaid, usually through a public agency or municipality.
Charge Ready NY 2.0 Level 2 charging rebatesTaking applicationsNYSERDA rebates for Level 2 EV charging ports installed at multifamily buildings, workplaces and hotels/motels, paid after installation. The program budget is $28 million after $15 million was added in February 2026; remaining funds are shown on NYSERDA's gauge.
What it is worth, the next deadline, who can apply and the steps: for subscribers
NYSERDA Charge Ready NY 2.0 programNYSERDASourceChecked Oct 7, 2026
NYC Brownfield Incentive Grants (BIG)Taking applicationsNew York City grants for the study and cleanup of brownfield sites in the city’s voluntary cleanup program, with larger grants for preferred community development projects.
What it is worth, the next deadline, who can apply and the steps: for subscribers
NYC Brownfield Incentive Grant ProgramNYC Mayor’s Office of Environmental RemediationSourceChecked Oct 6, 2026
EPA brownfields assessment, cleanup and revolving loan fund grantsFederalOpening soonEPA grants that pay for assessing and cleaning up brownfields. Recipients are governments, redevelopment agencies and nonprofits; private developers benefit through them, for example by assessment of their site or a loan from a revolving fund. EPA expects the FY2027 competitions to open in fall 2026; no Multipurpose grants will be offered.
What it is worth, the next deadline, who can apply and the steps: for subscribers
CERCLA Section 104(k); Assistance Listing 66.818US EPASourceChecked Oct 6, 2026
Regional economic development grants (Consolidated Funding Application)Between roundsOne annual application to more than 20 programs run by eight state agencies, including Regional Council capital grants and the ACHIEVE competition. The 2026 round closed July 31, 2026.
What it is worth, the next deadline, who can apply and the steps: for subscribers
Regional Economic Development Council initiativeEmpire State Development and partner agenciesSourceChecked Oct 6, 2026
Restore New York Communities InitiativeBetween roundsState grants to municipalities for demolishing, deconstructing, rehabilitating or reconstructing vacant, abandoned or blighted buildings, often passed through to a private redevelopment project. Round 9 awards were announced May 22, 2025; no later round had been announced when this was checked.
What it is worth, the next deadline, who can apply and the steps: for subscribers
Restore New York Communities InitiativeEmpire State DevelopmentSourceChecked Oct 6, 2026
USDA Rural Energy for America Program (REAP) grants and guaranteed loansFederalPausedUSDA Rural Development grants and loan guarantees for renewable energy systems and energy-efficiency improvements owned by agricultural producers and rural small businesses. Under the October 2026 rule, a project must already be built and operating, with 12 months of production or savings data, before the applicant applies for a grant.
What it is worth, the next deadline, who can apply and the steps: for subscribers
7 CFR Part 4280, Subparts B and C (grants); 7 CFR Part 5001 (guaranteed loans); Federal Register document 2026-20178 (October 1, 2026)USDA Rural Business-Cooperative Service (Rural Development)SourceChecked Oct 7, 2026
EPA Greenhouse Gas Reduction Fund (Solar for All, National Clean Investment Fund, Clean Communities Investment Accelerator)FederalEnded for new projectsThe $27 billion fund created in 2022: $7 billion of Solar for All grants to states and others for low-income solar, and $20 billion to national green banks and community lenders (NCIF and CCIA) that financed clean-energy projects. EPA treats all three as terminated; 2026 court rulings have gone against the terminations, but when or whether money will flow is unclear.
What it is worth, the next deadline, who can apply and the steps: for subscribers
Clean Air Act section 134 (repealed by P.L. 119-21)US Environmental Protection AgencySourceChecked Oct 7, 2026
Loans
Public loans at low or deferred rates.
DOE Energy Dominance Financing Program (section 1706)FederalTaking applicationsDOE loan guarantees for projects that retool, repower, repurpose or replace energy infrastructure that has stopped operating, raise the capacity or output of operating infrastructure, or support electric supply for grid reliability. DOE lists nuclear, coal, oil, gas, geothermal, hydropower, critical materials, grid resilience and transmission.
What it is worth, the next deadline, who can apply and the steps: for subscribers
42 U.S.C. 16517 (Energy Policy Act of 2005, section 1706, as amended by P.L. 119-21)US Department of Energy, Office of Energy Dominance Financing (formerly Loan Programs Office)SourceChecked Oct 7, 2026
Tax credits
Credits against income or business tax, often sold or syndicated to raise equity.
Brownfield Cleanup Program tax creditsTaking applicationsState tax credits for parties that clean up a site under a DEC Brownfield Cleanup Agreement: a site preparation component, an on-site groundwater component and a tangible property component for what is built. Sites must be accepted before January 1, 2033 and get a Certificate of Completion by December 31, 2036.
What it is worth, the next deadline, who can apply and the steps: for subscribers
Tax Law Section 21; Environmental Conservation Law Article 27, Title 14NYS DEC and Department of Taxation and FinanceSourceChecked Oct 6, 2026
Low-income communities bonus for the clean electricity investment credit (48E(h))FederalBetween roundsCompetitive allocation, run by the Treasury and IRS with the Department of Energy, of extra investment credit for facilities under 5 MW that are in low-income communities, on Indian land, or part of qualified low-income residential building or economic benefit projects. A project must receive an allocation to claim the bonus.
What it is worth, the next deadline, who can apply and the steps: for subscribers
26 U.S.C. 48E(h); Revenue Procedure 2025-11US Treasury and IRS; US Department of EnergySourceChecked Oct 7, 2026
NYS Homes and Community Renewal affordable housing funding roundBetween roundsNew York State’s competitive round for affordable multifamily housing outside the city’s own programs: federal 9% housing credits, state low-income housing credits and state capital subsidy loans in one application. The 2026 round closed September 10, 2026.
What it is worth, the next deadline, who can apply and the steps: for subscribers
26 U.S.C. 42; Public Housing Law Article II-A (state credit)NYS Homes and Community RenewalSourceChecked Oct 6, 2026
Clean electricity investment and production credits (48E, 45Y)FederalAvailable under standing lawTechnology-neutral federal credits for new electricity generation and energy storage. Wind and solar lose them unless construction began by July 4, 2026 or the project is placed in service by December 31, 2027. Other technologies, including storage, keep the full credit for construction beginning before 2034, then 75% (2034) and 50% (2035).
What it is worth, the next deadline, who can apply and the steps: for subscribers
26 U.S.C. 48E, 45Y (as amended by P.L. 119-21)US Treasury and IRSSourceChecked Oct 6, 2026
Federal historic rehabilitation tax creditFederalAvailable under standing lawA 20 percent federal income tax credit for rehabilitating a certified historic building for income-producing use, under the Secretary of the Interior’s Standards. The state historic preservation office and the National Park Service review the work in a three-part application before the IRS credit is claimed.
What it is worth, the next deadline, who can apply and the steps: for subscribers
26 U.S.C. 47; 36 C.F.R. Part 67National Park Service and IRS, through each state historic preservation officeSourceChecked Oct 6, 2026
Low-income housing tax credit (LIHTC)FederalAvailable under standing lawFederal credit for building or rehabilitating rental housing with income-restricted units, allocated by each state housing agency. From 2026 each state’s competitive (“9 percent”) allocation is 12 percent larger, and projects financed with tax-exempt bonds (“4 percent” credits) need bonds covering only 25 percent of basis when the bonds are issued after 2025.
What it is worth, the next deadline, who can apply and the steps: for subscribers
26 U.S.C. 42(h)(3)(I), 42(h)(4) (as amended by P.L. 119-21)IRS; state housing finance agenciesSourceChecked Oct 6, 2026
New Markets Tax CreditFederalAvailable under standing lawFederal credit that lowers the cost of capital for commercial, industrial, mixed-use and community-facility projects in low-income census tracts. The Treasury’s CDFI Fund gives allocations to Community Development Entities, which invest in projects. The 2025 budget law made the program permanent at $5 billion of allocation a year.
What it is worth, the next deadline, who can apply and the steps: for subscribers
26 U.S.C. 45D(f)(1)US Treasury CDFI FundSourceChecked Oct 6, 2026
New York State historic rehabilitation tax creditAvailable under standing lawState income tax credit that pairs with the federal historic credit for income-producing buildings in qualifying census tracts. A bill to extend the program beyond its current 2030 sunset to 2037 is in committee.
What it is worth, the next deadline, who can apply and the steps: for subscribers
Tax Law Sections 606(oo), 210-B(26)NYS Office of Parks, Recreation and Historic PreservationSourceChecked Oct 6, 2026
Transfer of clean energy tax credits for cash (section 6418) and elective pay (section 6417)FederalAvailable under standing lawLets a project owner sell all or part of eligible federal clean energy credits, including 48E, 45Y, 45X and 45Q, to an unrelated buyer for cash. Tax-exempt and governmental entities can instead take certain credits as a direct payment (elective pay). Both require IRS pre-filing registration.
What it is worth, the next deadline, who can apply and the steps: for subscribers
26 U.S.C. 6418 and 6417 (as amended by P.L. 119-21)US Treasury and IRSSourceChecked Oct 7, 2026
Tax abatements and exemptions
Lower property, sales or income tax on the project, or a payment in lieu of taxes.
Affordable Neighborhoods for New Yorkers (485-x)Taking applicationsNew York City property tax exemption for new rental and homeownership buildings that include affordable units. Construction must start by June 15, 2034 and finish by June 15, 2038. Larger projects must meet construction wage floors.
What it is worth, the next deadline, who can apply and the steps: for subscribers
Real Property Tax Law Section 485-xNYC Department of Housing Preservation and DevelopmentSourceChecked Oct 6, 2026
Industrial and Commercial Abatement Program (ICAP)Taking applicationsNew York City property tax abatement for building, expanding or renovating industrial and commercial buildings. Extended to March 1, 2030 by the state budget signed May 9, 2025, with storage warehouses and licensed parking facilities newly excluded.
What it is worth, the next deadline, who can apply and the steps: for subscribers
Real Property Tax Law Section 489-aaaaaa et seq.; FY2026 state budgetNYC Department of FinanceSourceChecked Oct 6, 2026
NYC solar and electric storage property tax abatementTaking applicationsNew York City property tax abatement for solar PV, battery storage or both on class one, two and four property. The installer applies through the Department of Buildings with the permit; DOB decides eligibility and the Department of Finance applies the abatement over four years.
What it is worth, the next deadline, who can apply and the steps: for subscribers
Real Property Tax Law Title 4-B (Sections 499-aaaa and 499-bbbb)NYC Department of Buildings and Department of FinanceSourceChecked Oct 7, 2026
Office-to-residential conversion exemption (467-m)Taking applicationsNew York City property tax benefit for converting non-residential buildings (not hotels) into housing with at least 25% affordable units. Conversion must start by June 30, 2031 and finish by December 31, 2039.
What it is worth, the next deadline, who can apply and the steps: for subscribers
Real Property Tax Law Section 467-mNYC Department of Housing Preservation and DevelopmentSourceChecked Oct 6, 2026
Business investment property exemption (485-b)Available under standing lawPartial property tax exemption on the increase in assessed value from building or improving commercial, business or industrial property outside New York City. Localities may opt out or reduce it.
What it is worth, the next deadline, who can apply and the steps: for subscribers
Real Property Tax Law Section 485-bLocal assessors; NYS Department of Taxation and FinanceSourceChecked Oct 6, 2026
Industrial development agency (IDA) tax benefitsAvailable under standing lawCounty, city and town IDAs can grant a project a payment in lieu of taxes (PILOT) agreement, a mortgage recording tax exemption and a sales and use tax exemption on construction materials and equipment. Each IDA sets its own policy.
What it is worth, the next deadline, who can apply and the steps: for subscribers
General Municipal Law Article 18-ALocal industrial development agenciesSourceChecked Oct 6, 2026
Opportunity Zone capital gains deferralFederalAvailable under standing lawInvestors who put capital gains into a Qualified Opportunity Fund that develops property or businesses in a designated zone defer tax on those gains and, after a 10-year hold, pay no tax on the fund investment’s growth. The 2025 budget law made the program permanent with a new five-year deferral for investments made after December 31, 2026.
What it is worth, the next deadline, who can apply and the steps: for subscribers
26 U.S.C. 1400Z-1, 1400Z-2 (as amended by P.L. 119-21)US Treasury and IRSSourceChecked Oct 6, 2026
Real Property Tax Law 487 exemption for solar, wind, storage and other systemsAvailable under standing lawStatewide 15-year property tax exemption for the increase in value from solar, wind, farm waste, micro-hydro, fuel cell, micro-CHP, energy storage and fuel-flexible linear generator systems. Local governments may opt out by local law or resolution, and may require a payment in lieu of taxes (PILOT) instead.
What it is worth, the next deadline, who can apply and the steps: for subscribers
Real Property Tax Law Section 487Local assessors; NYSERDASourceChecked Oct 7, 2026
Building energy credits ended June 30, 2026 (179D, 45L, 30C)FederalEnded for new projectsThree credits developers used for new buildings ended for new projects under the 2025 budget law: the 179D deduction for efficient commercial buildings (construction beginning after June 30, 2026), the 45L credit for new efficient homes (homes acquired after June 30, 2026) and the 30C credit for EV charging (property placed in service after June 30, 2026).
What it is worth, the next deadline, who can apply and the steps: for subscribers
26 U.S.C. 179D(i), 45L, 30C(i) (as amended by P.L. 119-21)US Treasury and IRSSourceChecked Oct 6, 2026
Project financing (C-PACE and green banks)
Long-term financing for energy and building improvements, including C-PACE repaid through a charge on the property.
C-PACE financing (Open C-PACE and NYC PACE)Taking applicationsLong-term financing for energy and renewable improvements, repaid through a charge on the property tax bill. Outside New York City, Energy Improvement Corporation runs Open C-PACE for member counties, cities and Westchester towns; in the city, NYCEEC runs NYC Accelerator PACE. New construction qualifies in both.
What it is worth, the next deadline, who can apply and the steps: for subscribers
General Municipal Law Article 5-L; NYC Local Law 96 of 2019Energy Improvement Corporation; NYC Energy Efficiency CorporationSourceChecked Oct 6, 2026
Solar, storage and clean energy incentives
Payments for the power or certificates a project produces, storage incentives, community solar and state renewable procurements.
NY-Sun incentives for commercial, industrial and community solarTaking applicationsNYSERDA's NY-Sun program pays a one-time $/W incentive for distributed solar, in MW blocks by region (Con Edison, Upstate, Long Island) and sector. Standard Upstate commercial/industrial blocks and SEEF Block 1 are fully allocated; later SEEF blocks and adders for community solar serving low- and moderate-income subscribers and affordable housing remain.
What it is worth, the next deadline, who can apply and the steps: for subscribers
NY-Sun Program Manual, Version 22 (April 2026); PSC order of April 24, 2025 authorizing 500 MW beyond the 10 GW goalNYSERDASourceChecked Oct 7, 2026
NYSERDA Retail Energy Storage Incentive (commercial behind-the-meter and distribution-connected storage)Taking applicationsNYSERDA pays a fixed $/kWh incentive, first come first served through approved contractors, for new commercial-scale (retail) storage up to 5 MW. Blocks run by region: New York City, Con Edison Westchester, Rest of State and Long Island. Part of the 6 GW storage roadmap; a separate Retail Inclusive Storage Incentive serves nonprofit, public and affordable housing critical facilities.
What it is worth, the next deadline, who can apply and the steps: for subscribers
Residential and Retail Energy Storage Program Manual (April 2026); PSC Order Establishing Updated Energy Storage Goal and Deployment Policy (June 2024)NYSERDASourceChecked Oct 7, 2026
NYSERDA bulk energy storage solicitations (Index Storage Credit)Between roundsNYSERDA buys Index Storage Credits from new grid-scale storage under long-term contracts, toward 3 GW of bulk storage by 2030. The developer bids a strike price; NYSERDA pays the difference between the strike price and a reference price approximating NYISO energy and capacity revenue, and the developer pays back when the reference price is higher.
What it is worth, the next deadline, who can apply and the steps: for subscribers
PSC Order Establishing Updated Energy Storage Goal and Deployment Policy (June 2024)NYSERDASourceChecked Oct 7, 2026
NYSERDA Tier 1 renewable energy certificate solicitations (land-based)Between roundsUnder the Clean Energy Standard, NYSERDA runs an annual RFP to buy Tier 1 RECs from new large-scale renewable projects (land-based solar, wind, hydroelectric and others) under long-term contracts. RESRFP26-1 is the tenth annual RES solicitation. The PSC has also authorized voluntary modification (Index REC conversion) of certain earlier Tier 1 agreements.
What it is worth, the next deadline, who can apply and the steps: for subscribers
NYSERDA Renewable Energy Standard Tier 1 solicitations (RESRFP26-1)NYSERDASourceChecked Oct 7, 2026
Value Stack (VDER) compensation for distributed solar, storage and community solarAvailable under standing lawUnder PSC Case 15-E-0751, utilities pay eligible distributed resources a Value Stack credit for exported energy instead of net metering: behind-the-meter nonresidential projects over 750 kW AC, remote-metered projects and community solar, including stand-alone and paired storage. Components are energy (LBMP), capacity (ICAP), environmental value, demand reduction value (DRV) and locational system relief value (LSRV).
What it is worth, the next deadline, who can apply and the steps: for subscribers
PSC Case 15-E-0751, Order on Net Energy Metering Transition, Phase One of Value of Distributed Energy Resources (March 9, 2017); utility tariffs, e.g. NYSEG PSC No. 120, Section 40NYS Public Service Commission; Con Edison, National Grid, NYSEG, RG&E, Central Hudson, O&RSourceChecked Oct 7, 2026
Utility and energy-efficiency programs
Ratepayer-funded incentives for efficient buildings, new construction, heat pumps and EV charging, which vary by utility territory.
Con Edison commercial, industrial and multifamily energy-efficiency and electrification incentivesTaking applicationsCon Edison pays prescriptive and custom rebates for efficiency upgrades in commercial and industrial buildings, and heat pump incentives for multifamily buildings of 5+ units (market-rate MFEEP-E and affordable AMEEP-E tracks). C&I projects need a Preliminary Incentive Offer Letter before incentives are committed.
What it is worth, the next deadline, who can apply and the steps: for subscribers
PSC Case 14-M-0094 and May 15, 2025 Energy Efficiency and Building Electrification Order (2026–2030)Con EdisonSourceChecked Oct 7, 2026
New Efficient Homes New York: Heat Pump Incentive and Enhanced Design Support (residential new construction)Taking applicationsNYSERDA program launched September 25, 2026 for all-electric residential new construction, adaptive reuse and substantial renovation: single-family, small homes and multifamily buildings under 50,000 sq ft, statewide with no utility-territory limit. $75M for heat pump incentives (RGGI-funded) and $25M for Enhanced Design Support (RGGI and the PSC's 2025 efficiency order).
What it is worth, the next deadline, who can apply and the steps: for subscribers
NYSERDA PON 6242; PSC 2025 Energy Efficiency and Building Electrification OrderNYSERDASourceChecked Oct 7, 2026
Utility energy-efficiency and heat pump programs outside Con Edison (National Grid, NYSEG, RG&E, Central Hudson, O&R, PSEG Long Island)Taking applicationsPSC-approved ratepayer efficiency and electrification incentives for 2026–2030 (about $1 billion a year with NYSERDA). National Grid offers large-business (including new construction), small-business and multifamily programs. NYS Clean Heat pays heat pump incentives; for 2026–2030 it targets 1–4 family homes, with new construction eligible only for ground-source. PSEG Long Island runs its own commercial rebates.
What it is worth, the next deadline, who can apply and the steps: for subscribers
PSC Cases 14-M-0094, 18-M-0084 and 25-M-0248; May 15, 2025 Non-LMI EE/BE Order; NYS Clean Heat Implementation Plan 2026–2030 (September 2, 2025)National Grid, NYSEG, RG&E, Central Hudson, Orange & Rockland, PSEG Long Island/LIPASourceChecked Oct 7, 2026
EV Make-Ready Program (utility EV charging infrastructure incentives)PausedUnder PSC Case 18-E-0138, the investor-owned utilities pay part of the utility-side and customer-side electric infrastructure cost for EV chargers. Light-duty Level 2 has ended and DCFC is paused. The Medium- and Heavy-Duty Fleet Make-Ready Pilot still takes applications and, after a January 23, 2026 order, admits shared charging hubs and customer-side incentives outside disadvantaged communities.
What it is worth, the next deadline, who can apply and the steps: for subscribers
PSC Case 18-E-0138; Order Denying Petition and Making Other Findings (March 23, 2026); MHD order (January 23, 2026)NYS Public Service Commission; Con Edison, National Grid, NYSEG, RG&E, Central Hudson, O&RSourceChecked Oct 7, 2026
Program terms, amounts and windows change, and most awards are discretionary. Confirm with the agency before relying on any figure; this is not tax, legal or financial advice. Every entry was checked against its source on or before October 7, 2026.