The NJ Solar Lure

June 3, 2008

 

As electric costs continue to rise, companies are looking for opportunities to control these costs. They find it is hard to budget for the yearly increases that are market driven and unpredictable.

 

The State Dilemma:

 

  • The demand for electric is projected to increase 1.5% a year thru 2020
  • Increase demand will lead to possible brownouts in the next 8–10 years
  • Electric price increases are trending over 10% a year

 

The State of New Jersey is committed to increasing the amount of renewable energy source to 22.5% by 2020.  Recent steps have been implemented to help jump start the program and provide an incentive that finally provides an ROI that makes sense.

 

Below is an outline of the steps recently taken that makes this investment desirable.

  • Federal Government provides 30% tax credit.
  • PSEG will be paying SREC’s (Solar Renewable Energy Certificate) each time a solar electric system generates 1000kwh of electricity. 
  • Your electric bill will be decreased by the value of the electric you are generating.
  • Full 7% State Sales Tax Exemption
  • Federal Guidelines allow for 5 year accelerated Depreciation of basis.
  • We can provide very competitive financing and your loan interest is deductible. 

Hutchinson Business Solutions has partners with BP Solar, a world leader in the solar field. They are the only company that has been making solar panels longer than their warranty (30 years). They offer a full 25-year warranty on the equipment and a full 10-year warranty on the installation.

 

The first step

The Federal Government and the State of New Jersey recognize they must provide incentives to entice the public to participate. They have taken the first step, it is now our turn. We must recognize the issue is real. Our demand for electric is surpassing our ability to supply this need. Alternative methods must be found to help supplement the supply of electric.

 

You can be your own provider

 

Our solar solution will not only help reduce the need to buy electric from the local provider; some clients are finding they are actually selling electric back to the provider. 

 

To learn more about your solar opportunities send an email to george@hbsadvantage.com

 

Visit us on the web www.hutchinsonbusinesssolutions.com to learn more about opportunities to provide savings for your company.