New Jersey Renewable Energy Incentive Program

Renewable energy incentive program.

New jersey renewable energy incentive program.

A 30 federal tax credit is available for investments in qualified renewable energy technologies. When you purchase your home solar system you will be 100 percent exempt from any sales tax due to the pv energy sales tax exemption. On top of these revenue streams new jersey has also granted residential solar a couple tax breaks to help keep the costs down. This credit can be used to offset both regular and alternative minimum tax amt.

You can take advantage of this program to save energy and lower your utility bills. Thousands of new jersey homeowners businesses and municipalities are incorporating clean renewable energy into their everyday lives with help from new jersey s clean energy program. In 2018 new jersey was the seventh largest producer of solar energy and almost 75 percent of all its renewable energy production came from solar. 2 solar renewable energy certificates srec.

New jersey s board of public utilities and its clean energy program njcep promote increased energy efficiency and the use of clean renewable sources of energy energy efficiency is the easiest most cost effective way to reduce energy use and hence reduce criteria pollutant emissions and greenhouse gases. That means you ll. Solar sales tax exemption. New jersey solar panel tax credits.

A five year accelerated depreciation allowance is also available under this tax credit program. New jersey s clean energy program is a statewide program that offers financial incentives programs and services for new jersey residents business owners and local governments to help them save energy money and the environment.