June 13, 2020
Owing to the impact of COVID-19 across all industries, including the renewable energy sector, New York has extended the deadline for the annual report of electric-generating facilities. This report is a recently-adopted requirement in New York and now, because of the pandemic, the deadline for 2020 has been extended from April 30 to June 30.
The report, known as Form RP-575, must be filed by owners of either single or multiple electric-generating facilities located in NYS, on the same site, with a capacity of 1 MW or greater. Form RP-575 must be filed with the State Department of Taxation and Finance Office of Real Property Tax Services (ORPTS).
For those owners of electric-generating facilities which are located in New York City, and who file Real Property Income and Expense (RPIE) statements, they are not required to file Form RP-575.
There is another exemption, which applies to equipment owned/operated by a residential consumer, providing that the equipment is used at their own residence and is not used to sell electricity to the public.
If you would like to develop a solar energy project in New York, commercial or residential, get in touch today. 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.
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