New Jersey Solar Incentives

June 17, 2008

New Jersey takes the lead in offering incentives to go Solar!

State Tax Rebates are planned for residential installations that will cover a significant portion of your cost.

Srecs are also being paid to all commercial and residential installtions, A SREC is gaureenteed to be paid for 15 years and will be paid for every 1000kwh of electric you produce. SRECs are designed to cover over 50% of your installation cost.

Federal tax credits make solar even more appealing.  The US government currently offers residential solar system owners a one time federal tax credit, capped at $2,000.  Commercial solar system owners are offered a 30% tax credit, making solar an even smarter financial investment.
State:        NEW JERSEY
Program Name:       New Jersey Clean Energy Program (NJCEP)
Incentive Type: Solar Renewable Energy Certificates (SREC)
Applicable Sectors: Commercial, Nonprofit, Schools, Institutional 
Incentive Amount: SREC trade at market value;
1 SREC =1,000 kWh
Maximum Incentive: $711.00/SREC
Eligible System Size: No maximum size specified, but output should not exceed 100% of the historical or expected (if new construction) consumption. 
Ownership of Renewable Energy Credits: Remains with project owner
Funding Source:    Utilities via RPS compliance
Website:  http://www.njcleanenergy.com/  
Authority 1:    Electric Discount and Energy Competition Act
Date Enacted:    TBA
Effective Date:    March 2001 (for rebate program)

To learn more about solar opportunities for your business or home, you may email george@hbsadvantage.com

Ask about our free site evaluation and proforma.

Solar ….. The New Sexy

(Source: http://www.dsireusa.org/)

Local Program Administrator:

New Jersey Board of Public Utilities
Renewable Energy Program Administrator, Office of Clean Energy
44 South Clinton Avenue
P.O. Box 350
Trenton, NJ 08625-0350
Phone: (609) 777-3300
Fax: (609) 777-3330
Web site: http://www.bpu.state.nj.us

2 Responses to “New Jersey Solar Incentives”

  1. […] mac wrote an interesting post today onHere’s a quick excerpt […]

  2. Robert McGuckin said

    I am forming a solar installation company here in Burlington county. Would you please help me get started with information to grow my business,

    I am concentrating on PPA’S with local company’s and need to know how NJ can help me with any programs they may offer to pass on to my customers.

    I am working on5 deals that total over 1 mw

    Thanks for any help you can offer.

    Robert

    RM900@SNIP.NET
    609-820-5603

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