Solar Energy Nj Rebates

Solar sales tax exemption.

Solar energy nj rebates.

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. 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. 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.

On top of these revenue streams new jersey has also granted residential solar a couple tax breaks to help keep the costs down. 10 that means if you purchase a 6 kilowatt system for 18 300 you ll pay 12 810 after you receive your tax credit. New jersey has been a leader in us solar energy programs and that status is only increasing. The garden state is committed to renewable energy.

New jersey solar panel tax credits. 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. Energy star r incentives of up to 4 000 and 0 financing are available for energy efficient upgrades throughout your whole house. 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.

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. The tax break reduces. 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. 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.

There are currently four solar incentives available to homeowners in new jersey. Save money while saving the planet. Nj solar incentives and solar rebates provide excellent incentives for those looking to get started. What solar rebates and incentives are available in new jersey.