Bringing Clean, Sustainable Energy to New Jersey Since 2012
With some of the best solar incentives available in the nation, the Garden State offers its homeowners plenty of reasons to go green. With its strong net metering program, significant tax exemptions and more, New Jersey is one of the best states to go solar.
Solar Benefits in New Jersey
- No out-of-pocket costs.
- 20+ year financing terms.
- Generous tax incentives.
Solar Rebates & Incentives
As one of only a handful of states that have installed more than one gigawatt of solar capacity, New Jersey is one of our country’s solar powerhouses. With enough solar energy to power more than a quarter of a million homes, homeowners in the Garden State can benefit in many ways when they go solar.
New Jersey Net Metering
This state-wide policy allows you to sell the excess electricity generated by your solar energy system back to the grid at the retail rate. This benefits homeowners because the retail rate of New Jersey’s net metering is notably higher than the wholesale rate that large power plants receive for the electricity they sell to the utility companies. In addition, you’re able to balance your consumption and production instead of letting any excess electricity generated go to waste because of this ability to both buy and sell electricity from the grid.
Here are the top utility net metering programs available to New Jersey residents:
Transition Renewable Energy Certificates (TRECs)
Your solar energy system produces more than just electricity. For every megawatt-hour (MWh) of solar power your home generates, your panels also generate one TREC, which can be sold to utility companies so they can meet the state’s Renewable Portfolio Standard (RPS). Pricing for TRECs varies based on the type of system you install. For example, homeowners who install a rooftop or ground-mounted solar panel system can earn $91.20 per TREC. This means if you install a 7-kilowatt (kW) system that generates 7 MWh per year, you could make up to $638 per year when you sell your TRECs.
Solar Sales Tax Exemption
For homeowners who purchase their home solar energy system, they’ll be 100% exempt from any sales tax thanks to the PV energy sales tax exemption. That means you’d spend 7% less on your solar equipment compared to customers who lease or purchase their system with a loan.
Property Tax Exemption
Thanks to New Jersey’s property tax exemption for renewable energy systems, any resident that invests in a solar energy system won’t pay any additional property taxes on the value that their solar panels add to their home.
Federal Solar Tax Credit
The Investment Tax Credit (ITC) can reduce the cost of your photovoltaic (PV) system by 26%. This credit only applies to customers who purchase their system with cash or a solar loan and you must have enough income in order for the tax credit to be significant.
Ready to start saving on Day 1?
Based on your local rebate and incentives available to you, we’ll create a customized quote for your home, business or organization to show how much you’ll save from the start and over time.