New Jersey offers more reasons to go solar

New Jersey residents can now recoup their solar energy investments faster than ever with a new rebate program that will continue until the end of April.

According to the Asbury Park Press, the $42.2 million renewable energy tax rebate program includes $27.2 million for solar energy installations that will result in rebates of up to $1.75 per watt on residential solar projects smaller than 10 kilowatts.

The report quoted a Board of Public Utilities spokesman as saying that with the state tax rebate, residents can now save about $12,250 on a seven-kilowatt, $60,000 solar installation. On top of that, the spokesman also cited the current 30 percent federal tax credit combined with lower electricity bills that would make such projects even more cost-effective.

Another incentive for going solar in New Jersey is reportedly the Solar Renewable Energy Certificate, which allows homeowners to sell some of the power they generate to area utilities, who are required by state law to invest in renewable energies.

The website for New Jersey’s Clean Energy Program notes that as of last March, there were nearly 3,000 solar installations in the state, up from just six in 2001.
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Author: Tom Staples

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Posted in: Solar Policy

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