Checkout Some of the Amazing NJ Solar Incentives

Federal Solar Tax Credit

Extended renewable energy tax credits have been included in a $1.4 trillion federal spending package alongside a $900 billion COVID-19 virus relief spending bill. The solar investment tax credit (ITC), which was scheduled to drop to 26% in 2021, will now be raised to 30%! This means solar projects in all market segments (residential, commercial, industrial, utility-scale) that begin construction in 2022 until 2032 will be able to receive a tax credit at 30%. All markets will drop to a 26% tax credit in 2033 so don't delay!

Property Tax Exemption

Any value that your solar system adds to your property will not have to be paid in your property tax.

Solar Sales Tax Exemption

Due to the PV Energy Sales Tax Exemption, sales tax is not included with your solar purchase.

Successor Solar Incentive (SuSI) Program

For every megawatt-hour your solar system generates, you can collect an SREC-2 credit. SREC's values depend on the type of system installed. For example, residential systems will collect a fixed payment of $90 for 15 years. The amount of MWh you have affects the amount of credits you can collect for. When you sell your certificates for the SREC's you have received, you can collect a huge payout each year.

Net Metering

Net Metering helps customers maximize their renewable energy investments.  It enables customers to receive full retail credit on their utility bill for each kWh of electricity their system produces over the course of a year. At the end of an annualized period, the customer-generator will receive credit on their utility bill at the wholesale value of electricity for any excess generation that remains.

When a renewable energy system produces more electricity than the customer actually uses, the customer will be compensated with credits at the full retail value of the electricity for the production over and above what they use.  For example, on a typical sunny day at moderate temperatures, a customer with a solar panel system may use less electricity than the system actually generates. When electricity production exceeds usage, the utility meter will spin backwards and provide the customer with credits for the excess energy produced. These credits can be used by customers as needed.

With net metering, your electric meter spins forward when electricity flows from the utility into the home, and backwards when power flows from the home to the utility.  Your stored kWhs are "netted," or paid back, on an annual basis.

Learn More About Your Energy Provider

Atlantic City Electric

PSE&G

JCP&L

New Jersey has always been one of the best states for solar: higher-than-average electricity rates and strong solar incentives have helped thousands of New Jerseyans achieve quick payback periods on their solar investments. Above all, the state’s renewable portfolio standard and associated Solar Renewable Energy Certificate (SREC) market have been instrumental towards growing solar throughout the state. In 2021 the Garden State decided to implement the SREC-2 program which has set pricing for 15 years making the calculation of how much incentive money you’ll receive from the program 100% accurate.

The value of your incentive will vary depending on the type of installation. The NJ BPU has assigned varying factors for individual solar projects; solar projects located on large plots of land have a higher SREC-2 factor than a residential solar installation on a roof.

And don't forget that qualified installations are eligible for FREE roof replacement with a 50 year warranty on shingles. Homeowners struggling to come up with cash for a new roof may want to consider offsetting their costs with this roof replacement program.

See if your home pre-qualifes NOW. Not all homes are eligible due to numerous factors such as grid restrictions. Per the Atlantic City Electric Restricted Circuit Map below, areas in black are now prohibited and areas marked in yellow or red are only months away from being on the blacked-out list. It is imperative you act quickly before your solar options are eliminated.