Rebates For Solar Panels In Nj

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.

Rebates for solar panels in nj.

10 that means if you purchase a 6 kilowatt system for 18 300 you ll pay 12 810 after you receive your tax credit. What solar rebates and incentives are available in new jersey. 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. 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.

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. 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. 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. 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 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.