Nj Solar Rebates 2017

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.

Nj solar rebates 2017.

Clinton avenue trenton nj 08625 800 624 0241. There are currently four solar incentives available to homeowners in new jersey. 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. In addition to the 26 federal solar investment tax credit homeowners may also have access to additional solar incentives from their state or local utility.

These are the solar rebates and solar tax credits currently available in new jersey according to the database of state incentives for renewable energy website. It is sometimes possible to receive a cash. Here s a summary of solar rebates by state. 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.

What solar rebates and incentives are available in new jersey. 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. Due to high energy costs and ample sunlight california is a great state for solar. With a state solar tax credit you can deduct a portion of the cost of your solar panel system from your state tax bill similar to the federal itc.

New jersey board of public utilities 44 s. Hr 1 of 2017 repealed the use of tax credit bonds effective january 1 2018. These amounts vary significantly by state. 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.

Some states offer additional tax credits for installing a solar panel system. On top of these revenue streams new jersey has also granted residential solar a couple tax breaks to help keep the costs down. With the decision by legislators to use the srec market exclusively to back solar power it ended up translating into higher initial costs for the installation of solar panels at least in. A look at 2017 new jersey solar rebates there are some clean energy types for which new jersey does offer rebates through their renewable energy program.

That means you ll. Solar sales tax exemption. New jersey solar panel tax credits. New jersey solar pv rebates incentives.