ALBANY – A series of bills that are part of the NY-Sun initiative was signed by Governor Andrew Cuomo. The legislation is intended to make solar energy more affordable for homeowners and businesses as well as create new jobs in the state’s growing solar energy sector.

The new laws include statewide tax credits for the lease of solar equipment and power purchase agreements (A.34-B/S.149-B), statewide sales tax exemptions for commercial solar equipment (A.5522-B/S.3203-B) and an extension of the real property tax abatement in New York City for solar installations (A.10620/S.7711).

“The bills signed today continue to build momentum for the state’s NY-Sun Initiative by accelerating the installation of solar power while making it a more affordable option for residents and businesses,” Governor Cuomo said. “Together with other NY-Sun incentives, these bills demonstrate the state’s commitment to reducing energy costs, growing our green energy sector, creating jobs, and protecting the environment.”

NY-Sun calls for the installation in 2012 of twice the customer-sited solar electricity capacity that was added during 2011, and quadruple that amount in 2013.