Nj Rebates For Solar Panels

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

Nj rebates for solar panels.

You don t have to live in the northeast to be a leader in solar. Save money while saving the planet. 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. High electricity rates the federal tax credit net metering and the state s transitional renewable energy credit program means that homeowners in the garden state can get an excellent return on their investment when installing residential solar panels.

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. 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. What solar rebates and incentives are available in new jersey. There are currently four solar incentives available to homeowners in new jersey.

Energy star r incentives of up to 4 000 and 0 financing are available for energy efficient upgrades throughout your whole house. That means you ll. 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. New jersey is one of the top states to install solar in the nation.

New jersey homeowners can count on solar incentives tax credits rebates. The tax break reduces. 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. Thanks to incentives like solar renewable energy credits srecs and tax exemptions the garden state has earned itself a coveted place among the top 10 solar states in the united states.

New jersey solar power overview. 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. The garden state is committed to renewable energy. The average home in new jersey needs a 7 2 kw solar panel system to meet its energy needs.

The cost of solar panels in new jersey for the average sized 7 2 kw solar panel system in new jersey the cost comes out to about 3 20 per watt or 23 040 before incentives. 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 been a leader in us solar energy programs and that status is only increasing.