New Jersey Photovoltaic Solar Systems are great investments for New Jersey homeowners. First of all, New Jersey receives more sun hours per day than Germany, the largest user of photovoltaic solar systems. Second, New Jersey offers fantastic solar rebates, solar renewable energy credits and utility solar loan programs based on SREC payments.
New Jersey Customer-Sited Renewable Energy Rebates are available for systems up to 10 kW DC. The New Jersey Residential Renewable Energy Rebates are reduced $0.20 for every 6 MW installed. Current New Jersey Renewable Energy Rebates are $1.75/DC watt with an energy audit and $1.55/DC watt without an energy audit as of October 2009.
Solar Renewable Energy Credits may be sold by homeowners at market rates for each 1,000 kWh of renewable energy production. Estimates of SREC market rates range from $0.711/kWh to $0.475/kWh as a floor for the Public Service Gas & Electric (PSG&E) solar loan program.
New Jersey Property Tax Assessor issue solar property tax exemption certificates for 100% of the gross system price.
In addition, residential solar systems are exempt from the 7% New Jersey sales tax.
New Jersey Solar Access Laws restrict homeowners associations from disallowing rooftop solar installations. New Jersey solar easement law ensures that proper sunlight is available to those who operate solar energy systems.
Lastly, everyone in New Jersey receives the Federal Solar Tax Credit of 30% of the cost of solar.
New Jersey Solar System Prices