NY S01902

Amends the real property tax law to create a new category of renewable energy systems exempt from property tax increases, specifically systems with generation capacity not exceeding 20 kilowatts and electric energy storage capacity not exceeding 30 kilowatt-hours

Applies to solar, wind, farm waste, micro-hydroelectric, fuel cell, micro-combined heat and power, electric energy storage, and fuel-flexible linear generator systems meeting the size thresholds

Removes the ability of local governments to opt out of providing this exemption for small-scale residential renewable energy systems meeting the capacity limits

Removes the 15-year time limit on the tax exemption for qualifying small-scale systems, effectively making the exemption permanent for homeowners

Takes effect immediately upon passage