NJ Solar New Jersey Solar
FAIL (the browser should render some flash content, not this).
Javascript DHTML Drop Down Menu Powered by dhtml-menu-builder.com
Solar
Javascript DHTML Drop Down Menu Powered by dhtml-menu-builder.com
Solar Systems Design is revolutionizing solar financing.
Solar Systems Design offers residential 0% SAME AS CASH financing.
0% and No Payments for up to 12 months.

For Commercial installations we now offers SOLAR LEASING.


Solar Electric, Solar Hot Water, Solar Pool Heating.

b For a Free Site Evaluation


Free Cost Analysis


Solar Incentives > NEW JERSEY


DSIRE DATABASE
New Jersey Energy Incentives

Whom should I contact with questions?

Please call 1-866-NJSMART (1-866-657-6278)

Financial Incentives for Solar Equipment and Installations
Several great rebates and tax credits for solar systems are available from the State of New Jersey and the Federal Government. Here is the run-down of what's hot:

Electricity:  Of course, your solar array will make electricity that you would otherwise buy from your utility company.  This electricity would otherwise cost you about $0.16 per kilo watt hour today.  Averaged over the year, your system can be sized to make all the electricity you use.  To do this the electricity is sent to the grid during the day and pulled back at night when the sun is down.

Residential Solar Rebates:
Federal Tax Credit:     30% cost of system
State of New Jersey:   $1.75 per watt installed up to 10,000 watts with an energy audit.

Commercial Solar Rebates:
Federal Tax Grant:              30% cost of system
State of New Jersey:           $1 per watt installed up to 50,000 watts
Equipment Depreciation:     5 Years accelerated
USDA Grants and Loans:   Available for specified rural areas based on income.

SREC monies:
Every month, your system earns you valuable SRECs or energy "credits". These credits are the financial backbone of the NJ  rebate approach and the hardest to understand at first.  Granted monthly, they return a portion of your financial investment based on electric production from your system. More information about Solar Renewable Energy Credits is available on this website.

Netmetering and Interconnection Forms

PSE&G SOLAR LOAN PROGRAM

PSE&G has set aside millions of dollars to help finance the installation of solar power systems for residents, businesses, and organizations throughout our electric service area.

And that means you may be eligible for a loan from PSE&G that can help finance 40% – 60% of your qualified solar power installation.

What’s more, unlike other loans, you can elect to have the Solar Renewable Energy Certificates (SRECs) your solar electric system generates to pay back your loan.

PSE&G will guarantee a fixed minimum price for the SRECs applied towards the repayment of your loan. If SREC market prices are higher than the floor price, PSE&G will credit your loan at the higher price. You get the safety of a floor price and the upside potential of higher SREC prices.

FACT: While SREC prices may seem high now, there is no guarantee on where they will be in 2, 5, or 10 years. If you lock in your SREC prices with PSE&G you can benefit from higher prices and have the security of a floor price.

PSE&G has simplified and improved the loan approval and closing process. It’s now easier than ever to get a Solar Loan.

It’s all part of PSE&G’s continuing efforts to encourage the development and installation of clean, renewable energy technologies throughout New Jersey.

For more information: http://www.pseg.com/customer/solar/index.jsp

 

What is “Net Metering”?

In New Jersey, net metering is a metering option that credits customers with solar systems or other renewable energy generators for each kilowatt-hour produced over the course of a year.

The customer is compensated at the end of the year for any remaining credits or excess power it will have provided to the grid.

In New Jersey, all Electric Distribution Companies and suppliers/providers offer net metering to their residential and small commercial customers that generate electricity, on the customer’s side of the meter, using Class 1 renewable energy sources, provided that the generating capacity of thecustomer-generator’s facility does not exceed 2 MW, and does not exceed the customer’s peak electric needs.

Together, our interconnection and net metering rules ensure solar generators are compensated for the clean, renewable energy they are generating and that New Jersey’s ratepayers share in the benefits of solar and other small renewable energy generation.


State/Region/Utility Solar/Wind Technology Solar/Wind Incentive or Rebate Description
US (US)
Applies to: Residential & Business
Solar Electric (PV)
Solar Water Heating
Wind Turbine
Federal Tax Credit (30% of Gross Cost at Installation) » link
New Jersey (NJ)
Applies to: Residential & Business
Solar Electric (PV)
Wind Turbine
Solar Renewable Energy Certificates (SREC) » link
New Jersey (NJ)
Applies to: Residential
Solar Electric (PV)
NJ Renwable Energy Incentive » link
New Jersey (NJ)
Applies to: Business
Solar Electric (PV)
NJ Renwable Energy Incentive » link
New Jersey (NJ)
Applies to: Residential & Business
Wind Turbine NJ Renwable Energy Incentive » link


Return On Investment:
With available rebates and tax credits, your out-of-pocket costs are only about one-third to one-half the price of your system. However, the return on your investment (ROI) can be 15% or more. ROI comes in two forms. First is the reduction in your electric bill. A solar system can reduce your bill by 50% to 100 %, depending on its' size and your usage. Second is the sale of SRECs (Solar Renewable Energy Certificates) back to the utility companies. This value varies depending on supply and demand. After auditing your roof, we will be able to calculate exactly how much money you will be earning

Pay No Sales Tax!
All labor and equipment involved in installing your Solar Electric System in here in New Jersey is completely exempt from all sales tax. This exemption from New Jersey's 7% sales tax applies to both residential and commercial solar customers. It is available to all taxpayers.

The statute directed the New Jersey Division of Energy Planning and Conservation in the Department of Energy to establish technical standards for qualifying solar-energy systems. Although the regulations defining eligible systems expired in 2000, the exemption from the state's sales tax is still in effect.

Pay No Property Tax

New Jersey enacted legislation October 2008 exempting renewable energy systems used to meet on-site electricity from local property taxes.  The exemption may be claimed for all qualified systems installed on residential, commercial, industrial, or mixed use buildings as accessory uses.  

To claim the exemption, property owners must apply for a certificate from their local assessor which will reduce the assessed value of their property to what it would be without the renewable energy system. Exemptions will take effect  the year after a certification is granted. The New Jersey Department of Treasury, Division of Taxation is required to develop the rules and regulations necessary to implement this law. Rules relating to the technical qualifications that an eligible renewable energy system must meet will be developed by the New Jersey Board of Public Utilities (BPU) and the Commissioner of Community Affairs.

 

New Jersey’s Clean Energy Program™ is recognized as a national model for programs that spur market development and the adoption of clean, renewable energy technologies, managing programs to encourage energy efficiency, and assistance for low-income consumers.” That comes from the state’s website, and refers to actions that have distinguished New Jersey as a leader in promoting renewable energy and implementing progressive pro-solar initiatives. The state also just expanded the Renewable Portfolio Standard requiring the state’s utilities to produce about 1,500 mW of solar by 2021. For setting a high standard for others to follow, New Jersey’s legislators have earned a solar rating of “Excellent”.

STATE INCENTIVE PROGRAMS, UTILITY REBATES, UTILITY LOANS, and UTILITY INCENTIVES

The New Jersey Clean Energy Rebate Program provides incentives for the use of photovoltaic's, landfill gas, wind, biomass, anaerobic digestion, and fuel cells using renewable fuels. Eligible sectors are commercial, residential, nonprofit, schools, and institutional. Rebates are highly variable based on a number of factors and capped for some energy sources. Program budget is $273 million (2005-2008). Full details of the program can be found here.


$50,000 to $500,000 in recoverable grants is available to the commercial sector through the Renewable Energy Business Venture Assistance Program (REBVAP). Program details here.


In 1980 New Jersey instituted a Solar and Wind Energy Systems Exemption for the commercial, residential, and general public/consumer sectors. A full exemption from the state’s 7% sales tax are applicable to passive solar space heat, solar water heat, solar space heat, solar thermal electric, solar thermal process heat, photovoltaic's, wind, and solar pool heating. The statute is available here.

Marketable NJ Board of Public Utilities – Solar Renewable Energy Certificates (SRECs) can be earned by commercial, industrial, residential, nonprofit, schools, local government, state government, tribal government, fed. government, agricultural, and institutional sectors that generate solar-electric power. Details here.

Commercial and residential sectors are eligible for Net Metering on solar thermal electric, photovoltaic's, landfill gas, wind, biomass, hydroelectric, geothermal electric, anaerobic digestion, tidal energy, wave energy, and fuel cells using renewable fuels on systems generating up to 2 mW. Excess power is credited to the next month’s bill and purchased by the utility at the end of the 12-month billing cycle. Click here for details on Net Metering and interconnection standards.

Where can I find more information about New Jersey Renewable energy programs and incentives?

Click Here: http://www.eere.energy.gov/states/state_specific_information.cfm/state=NJ


EXAMPLE RESIDENTIAL SOLAR INSTALLATION

The Colonial settlement of Newark was founded in 1666 by settlers led by Robert Treat, who reportedly acquired the property from the Hackensack Indians for “gunpowder, one hundred bars of lead, twenty axes, twenty coats, guns, pistols, swords, kettles, blankets, knives, beer, and ten pairs of breeches”. A real bargain, it would seem. Modern Newark is about 24 square miles in size, roughly the size of Manhattan, and is home to nearly 300,000 residents. For the reasonably athletic, Newark is within walking distance of Manhattan on the opposite side of the Hudson River from Newark and Essex County.

New Jersey has a relatively low average electrical consumption of 8,976 kWh annually, but rates at 11.74 cents/kWh, while noticeably lower than neighboring New York, are still higher than the U.S. average of 9.45 cents/kWh. In Newark, power is supplied by New Jersey’s oldest and largest provider, Public Service Electric & Gas. With that background, let’s see what can be accomplished with a residential solar energy system in sunny (solar rating: “Good”) Newark.

A solar collector system on a roof area of 350 square feet should be sufficient to reduce conventional electrical needs by 50%. Midrange equipment and installation costs are estimated at $31,500, but state and federal credits and rebates reduce that by almost half.

  • Expected state rebate: $10,773
  • Expected NJ Renewable Energy Credit: $898
  • Federal tax credit: $2,000

Estimated NET cost: $ 17,829

  • Increase in Property Value: $7,560 to $13,622
  • 25-year Utility Savings: $15,861 to $28,580
  • Greenhouse Gas (CO2) Saved over 25-year system life: 92.0 tons


CONSENSUS

New Jersey’s Office of Clean Energy is charged with the success of the state’s aggressive Renewable Portfolio Standard, which depends in part on installing “sufficient solar capacity to meet the RPS requirements, at the lowest cost to ratepayers, taking into account other policy goals – fairness and equity to all ratepayer classes, job growth, improved reliability/security and improved environmental quality”. They have a big job facing them, but we applaud the New Jersey government and business leadership for putting their shoulders to the task.

CONTACT US FOR MORE INFO

Free Cost Analysis

We Carry all Approved Major Brands
       www.solar-estimate.org connects people to solar energy professionals.         
              
  


Solar Systems Design ©    Contact Us   Site Map