Rebates For Solar Panels In Nj

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.

Rebates for solar panels in nj.

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. 10 that means if you purchase a 6 kilowatt system for 18 300 you ll pay 12 810 after you receive your tax credit. Because of the unique nature of new jersey solar incentives the average solar owner here can save more than 36 000 over the next 25 years. 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. There are currently four solar incentives available to homeowners in new jersey. 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. 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.

When you compare quotes for solar panels on energysage s competitive solar marketplace you can expect to see prices up to 20 lower than working with a single solar company.