Yes, Happy New Year is capitalized when it is used as a greeting or a heading. The word “Happy New Year” is capitalized in English because it is a proper noun.
Examples
Happy New Year to you!
Do you capitalize New Year in a sentence?
You should capitalize “New Year” in a sentence no matter where it is placed in a sentence. This is because “New Year” is a proper noun and we always capitalize proper nouns in English.
Example:
Happy New Year to you and your family!
If you are not talking about the celebration/event, then you may not want to capitalize “new year”.
Example:
Every new year that comes, brings more devastation to our forests.
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