Solar Energy Nj Rebates

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 energy nj rebates.

It is sometimes possible to receive a cash rebate from your state municipality utility company or other organization that wants to promote solar energy. 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. New jersey is the fastest growing market for solar photovoltaics in the united states and one of the largest in terms of installations and installed capacity second only to california. Board of public utilities clean energy program.

New jersey solar panel tax credits. Home tax credits rebates savings please visit the database of state incentives for renewables efficiency website dsire for the latest state and federal incentives and rebates. Rebates can help to further reduce your system costs by 10 to 20 percent. Solar sales tax exemption.

The first solar incentive is the investment tax credit itc which currently allows you to deduct 30 percent of the cost of your solar energy system from your taxes the second incentive is the solar renewable energy certificate srec program. An average sized residential solar system about 400 square feet of solar panels costs 18 000 according to the solar energy industries association an industry group. This program offers rebates on qualifying energy star clothes washers dryers and refrigerators as well as promoting the sale of energy star qualified lighting products through major new jersey retailers and online. The tax break reduces.

Rebates are generally available for a limited time and end once a certain amount of solar has been installed. What solar rebates and incentives are available in new jersey. There are currently four solar incentives available to homeowners in new jersey. On top of these revenue streams new jersey has also granted residential solar a couple tax breaks to help keep the costs down.

Save money while saving the planet. New jersey has been a leader in us solar energy programs and that status is only increasing. 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. Energy star r incentives of up to 4 000 and 0 financing are available for energy efficient upgrades throughout your whole house.

Much of this success is due to new jersey s solar financing model which relies on high renewable energy standards and the use of srecs.