Solar Panels, Solar PV, Solar Energy, Solar Power, YSG Solar
October 26, 2020

As the world experiences unprecedented financial turmoil, with spiking unemployment rates and widespread uncertainty in the midst of a global pandemic, certain local governments, such as that of Niagara County, are making it more challenging to develop solar power projects.



Spectrum News reports that, on Tuesday October 20, the Niagara County legislature passed a measure to opt out of the New York State renewable energy exceptions. As things stand, New York State offers a 15-year property tax exemption when assessing increases which result from renewable energy projects like solar farms. Local governments are allowed to opt out of this exemption and, unfortunately, the Niagara County legislature passed the measure to opt out 9 to 5, sparking debate among those present.



At YSG Solar, we are disappointed with this decision from Niagara County and hope that they will reconsider and amend this law in the future.



Solar, Solar PV, Solar Power, YSG Solar


Solar power provides businesses and homeowners with access to affordable energy, enabling them to save on their energy costs and utility bills when they really need it—so this is a disheartening decision for Niagara County residents and solar developers alike. The savings associated with solar energy are particularly valuable right now, when many are struggling financially as a result of COVID-19.



This decision, along with the upcoming decrease in the federal investment tax credit and an increase in tariffs, could make Niagara County a part of New York State that does not have access to solar development, as solar farms will not be financially viable for project developers. If a Niagara County solar farm makes no financial sense, then it’s inevitable that developers will bring their projects elsewhere.



This move could also deter large companies from establishing a presence in Niagara County as they would be unable to take advantage of the property tax exemption for renewable energy projects like solar and wind. Many big companies, including tech giants like Amazon, Google, Apple, and Facebook have invested heavily in renewable energy in recent years, so this move from the Niagara County legislature to prevent solar and wind development goes against the clear trend of growing renewable energy deployment throughout New York and across the entire country.



Interested in New York solar? Get in touch with YSG today. Whether you’re looking for a residential rooftop installation, or you want to lease your land for a solar farm, we can help. Send us an email or call at 212.389.9215 to get started.



YSG Solar is a project development vehicle responsible for commoditizing energy infrastructure projects. We work with long-term owners and operators to provide clean energy assets with stable, predictable cash flows. YSG's market focus is distributed generation and utility-scale projects located within North America.



Sources:

https://spectrumlocalnews.com/nys/buffalo/politics/2020/10/21/niagara-county-opts-out-of-nys-renewable-energy-tax-exception-

 

Photo by American Public Power Association on Unsplash.