Federal and state incentives are still available for residential and commercial systems.
"There are no sales gimmicks. It's plain and simple, your system will pay for itself."

Solar Energy: Benefits You Can Bank On.

Whether you're considering solar for residential or commercial property you should be aware that the multitude of financial incentives makes going solar a wise investment.

The following financial benefits apply to residential and commercial property:

Solar Renewable Energy Credit (SREC)

For every 1,000 kilowatt hours of electricity you generate you will receive one energy credit, whether for your home or business. Credits are then traded through an open market exchange, similar to a stock market. Supply and demand sets the price. SREC return alone nearly covers the cost of the system in 8 years, estimated at only 70% of the projected value! Current value goes for between $600 and $660.

No Sales Tax

New Jersey offers a full exemption from the state's sales tax (currently 7%) for all solar energy equipment. This exemption is available to all taxpayers.

No Energy Tax

The state cannot tax any electricity generated from your solar system, so that means when you look at your monthly bill, the amount generated using the sun will be tax free.

No Property Tax

Solar system homeowner's are eligible for property tax exemption. In order to claim the exemption, property owners must apply for a certificate from their local assessor which will reduce the assessed value of their property to what it would be without the renewable energy system. Exemptions will take effect for the year after a certification is granted.

Energy Generation

Your system creates electrical energy that you can use in your home. This energy usage offsets the amount of energy you use from your utility company and your utility bill goes down. If you create more energy then you use you can sell it back to the electric company at a profit! The electric companies are required to buy back the energy you create.

Additional Residential Benefits

Tax Credit

As of 2/19/2009 the IRS published a Residential Renewable Energy Tax Credit for 30% of system and installation cost with no upper limit. This is a tax credit that customers can take advantage of at the end of the year after they install their system. Contact your tax advisor for information on how this credit applies to you.

Additional Commercial Benefits

Tax Grant or Tax Credit

The federal government offers a corporate tax credit or federal grant for 30% of system and installation cost with no upper limit. According to the IRS the tax credit is a nonrefundable tax credit that carries forward until 2016. Or you can register for the federal grant and receive a check for 30% of your installation cost. The grant does not add to the income of the company so it should not be taxed.