Rebates For Solar Panels In Nj

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.

Rebates for solar panels in nj.

The chart above shows the 25 year returns for an investment in an average sized new jersey solar system whether you choose to purchase a system with cash or pay over time with a solar loan or ppa. 10 that means if you purchase a 6 kilowatt system for 18 300 you ll pay 12 810 after you receive your tax credit. If you have more questions about the costs and opportunities associated with going solar in 2019 contact your local installer to find out whether your home is a good. 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. Much of this success is due to new jersey s solar financing model which relies on high renewable energy standards and the use of srecs. Nj solar programs the state s solar success has been based on two core programs one that compensates you for the electricity you produce and one that rewards you for. In addition to new jersey s solar incentives you ll be eligible for the federal solar tax credit if you buy your own home solar system outright the tax credit can reduce the cost of a solar installation by 30 9 including a solar battery purchase.

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.