Nj Solar Power Incentives

10 that means if you purchase a 6 kilowatt system for 18 300 you ll pay 12 810 after you receive your tax credit.

Nj solar power incentives.

Solar panel installation tax credits in new jersey along with incredible energy savings customers who are installing solar panels can also receive these great state federal incentives. Nj solar incentives and solar rebates have made going solar in new jersey more affordable than ever and installation costs have dropped over 40 percent in the past five years. As an added bonus if you get hit with the alternative minimum tax this credit allows no rebates last forever though and the clock is ticking on eligibility for federal solar incentives. New jersey solar power llc has been there since the beginning of the solar energy revolution of nj.

When you purchase your home solar system you will be 100 percent exempt from any sales tax due to the pv energy sales tax exemption. In fact many homeowners take advantage of an investment tax credit that covers as much as 26 of the total cost of the solar panels. The current rebate system originally enacted in 2008 was granted a multi year extension in 2015 with the passage of the omnibus appropriations act p l. The consensus on new jersey solar incentives and payback.

New jersey s board of public utilities and its clean energy program njcep promote increased energy efficiency and the use of clean renewable sources of energy energy efficiency is the easiest most cost effective way to reduce energy use and hence reduce criteria pollutant emissions and greenhouse gases. Solar sales tax exemption. New jersey solar panel tax credits. That means you ll.

Please check njcep for more information and availability of funds. New jersey residents who are municipal electric oil or propane customers are eligible to participate in and receive incentives from certain programs. Save money while saving the planet. New jersey s clean energy program is a statewide program that offers financial incentives programs and services for new jersey residents business owners and local governments to help them save energy money and the environment.

New jersey has done just about everything right when it comes to helping homeowners go solar. When you go with new jersey solar power you re getting new jersey s foremost experts in solar energy. Federal solar tax credit in addition to new jersey s solar incentives you ll be eligible for the federal solar tax credit if you buy your own home solar system outright the tax credit can reduce the cost of a solar installation by 30 9 including a solar battery purchase. The payback time here is a phenomenal 6 years meaning you ll have nearly 2 decades of free power under the original 25 year solar panel warranty.

Board of public utilities clean energy program. On top of these revenue streams new jersey has also granted residential solar a couple tax breaks to help keep the costs down.