New Jersey is one of the nation's leader when it comes to solar incentives.

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New Jersey Solar Incentives
Updated August 1, 2011
Roof Mounted Solar Panels
New Jersey is one of our nation's leaders, along with California, when it comes to state solar incentives. New Jersey’s RPS (Renewable Power Standard), including its “solar carve-out,” set the bar for Solar Renewal Energy Certificates (SRECs) which has led to significant solar project development in the State over the last several years.

The New Jersey Renewable Energy Incentive Program is somewhat different than many other state programs, in that it relies partly on up front rebates, and “Solar Renewable Energy Certificates” or (SRECs). Essentially, each time your solar panels generate 1000kWh of electricity, you get a Solar Certificate that you can turn in for cash. Rebates are no longer available for 2011, but you you can still sign up for Solar Renewable Energy Certificates. Check the njcleanergy.com website for updates for what's in store for 2012.

Taxes & Net Metering
New Jersey solar power system purchases are exempt from sales taxes and can also be applied to your property taxes whether it's for commercial, agricultural, or residential applications. The 30% Federal Tax Credit can be applied to your solar power equipment and installation costs. A net metering program is also in place, so you can get credits from your utility company for any excess your solar power system generates above and beyond your own power needs.

New Jersey CommercialWhat's in Store For the Future?
New Jersey’s SREC incentives, combined with other state and federal incentives, have made many more projects commercially viable. However, there has been concern within the energy industry over the State’s long-term commitment to continue the country’s leading SREC incentive program beyond the current 2016 SACP schedule. The Master Plan proposes a significant reduction (potentially 20%) to the SACP cost for 2016, followed by annual reductions to reflect the continuing downward trend in installed costs. Even with the proposed reductions, New Jersey's intention is clear that it will continue to support behind-the-meter commercial and industrial solar projects through the use of solar credits. Read more about this policy change.

Summary
  • New Jersey's state program relies on up front rebates and Solar Energy Certificates that can be sold for cash.
  • New Jersey offers sales tax exemptions on solar power system purchases. You just need to fill out a form.
  • Property tax credits are available for homes, and businesses.
  • Special property tax incentives exist for farmers.
  • May be combined with the 30% Federal tax credit.
  • Net Metering is available for annual credits on your power bill.
View our Gridtie and Offgrid Solar Power Systems, or contact one of our experienced sales technicians to find out more at 800 / 472-1142 or .
* Incentives and tax credits are paid in the form of a tax refund when you file. All State and Federal tax credits are subject to an individual’s relationship with their state’s department of revenue and the Internal Revenue Service, please check with your CPA for full legal details.

Resources

DSIRE New Jersey Net Metering Program


DSIRE Solar Renewable Energy Certificates

DSIRE New Jersey Property Tax

DSIRE New Jersey Sales Tax

DSIRE New Jersey Property Tax Incentives for Farmlands


DSIRE New Jersey Residential, Commercial or Industrial Property Tax Incentives

30% Residential Federal Tax Credit

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