In addition, the budget contains personal income tax credits for the purchase of fuel cells for residential use and for the replacement of petroleum fuel tanks. For more information on these new environmental tax credits see 2000-01 Budget Highlights on page 3. Below is a summary of existing credits. Governor Pataki Promotes Solar Energy Tax Credit. The tax credit program, available for residential investments in solar electric generating equipment, began January 1, 1998.
Homeowners can also sell surplus power to their local electric utility.
Alternative Fuels Vehicle Credit. The alternative fuels tax credits provide incentives to corporations and personal income taxpayers that invest in electric vehicles, clean fuel vehicles or clean fuel vehicle refueling property. The credits expire for property placed in service after December 31, 2002. Special provisions were extended to 2003. Investment Tax Credit for Industrial Waste Treatment Facilities and Air Pollution Control Facilities.