New Jersey, also known as the “Garden State,” is evolving into a great place for solar energy. With abundant sunshine and a commitment to clean energy, the state offers residents and businesses some of the most attractive solar incentives and rebates in the nation.
If you’re considering joining the solar revolution in New Jersey, understanding these financial benefits is crucial to maximizing your investment and reducing your payback period. Here, we’ll look into the bright landscape of New Jersey’s solar incentives:
1. Federal Solar Investment Tax Credit (ITC):
Shine a light on a 30% federal tax credit on your entire solar system installation cost, including panels, inverters, labor, and even battery storage. This translates to significant savings, making solar even more budget-friendly.
2. New Jersey’s Solar Renewable Energy Certificates (SREC-II):
With this benefit, earn $85 for every 1,000 kWh of solar energy your system generates. These tradable certificates offer a steady stream of income for 15 years, further offsetting your solar investment.
3. Transitional Renewable Energy Certificates (TRECs):
Larger systems (15 kW and above) installed on eligible properties can earn additional TRECs, further boosting your financial return.
4. Net Metering:
Excess solar energy you generate flows back to the grid, earning you credits against your future electricity bills. This translates to lower monthly bills and increased energy independence.
5. Sales Tax Exemption:
The 6.625% state sales tax on your solar system purchase is not applied to you with this exemption. This significantly reduces upfront costs and makes solar installations even more attractive.
Bonus: Property Tax Deduction:
Homes with solar panels may qualify for a property tax deduction, lowering your annual tax burden.
Harnessing the Garden State’s Solar Bounty:
With these incentives in place, embracing solar energy in New Jersey is a smart financial decision. However navigating the intricacies of installation, rebate applications, and system maintenance can be daunting. That’s where Sun Up Zero Down shines!
We are a full-service solar installation company with a deep understanding of New Jersey’s solar incentives and rebate programs. We’ll guide you through every step of the process, from initial consultation and system design to permit acquisition, expert installation, and ongoing maintenance. We’ll even help you maximize your financial benefits by claiming all available rebates and incentives.
Ready to bask in the glow of solar energy savings?
Contact Sun Up Zero Down today for a free solar quote and let our solar experts illuminate your path to energy independence! We’ll help you harness the Garden State’s solar bounty and turn your sunshine into savings.