Green Roof Incentive in New York

 

Photocredit: dreamymo
Folks love the green incentives that have immediate, easily calculated cash value.

Environmental Leader (a green newsletter we dig) has put out the word on New York’s new green roof tax credit of $4.50/sf, up to $100,000 for installing a green roof. It’s structured as a one year credit off property taxes.

It comes out to an approximate 25% reduction off the cost of the roof — a significant value. I checked around with a couple of sources who said that this is a “decent estimate” of the savings. Which we took to mean that you need to factor in variability in the roof pricing — and hence, the credit’s actual value.

Not bad — a green roof in New York for 75% of the price. And that’s not including the heating and cooling benefits the roof brings to the building as well as the reduction of the heat island effect in the city.

Go Big Apple!