New Jersey has one of the most far-reaching energy policies in the nation and is on track to reach an ambitious goal of having renewable energy sources generate 50% of the state’s energy by 2030. As a result, New Jersey has become one of the nation’s most significant producers of clean, green, solar energy. Choosing Integrity Solar as your NJ solar panel installer, we take care of all the paperwork ensuring you get all available incentives and income-generating benefits.

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The cost of solar panel installation in NJ has decreased dramatically in the past few years. The lower price, paired with a range of valuable New Jersey solar incentives, grants, and tax credits makes solar energy feasible and more affordable than ever before. 

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New Jersey Solar Tax Credits

Right by residency. You can take advantage of a few NJ Solar Tax credits as a resident.

 

New Jersey Solar Property Tax Exemption

The New Jersey Solar Property Tax Exemption means that you pay no additional property taxes for the solar system you installed on your roof. In other words, going solar increases your home value, but you’ll pay no extra property tax for that added value.  

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Transition Incentive Program (TREC)

The Transition Incentive Program (TREC) replaces New Jersey’s SREC (Solar Renewable Energy Certificate) program. TREC allows New Jersey homeowners to generate one Renewable Energy Certificate (REC) for every 1,000 kilowatt hours of energy produced. If you live in a county that allows net metering, you can sell the certificates to your local utility company at a fixed rate. The savings over 15 years can be substantial. 

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Federal Investment Tax Credit (ITC) for New Jersey Residents

You don’t have to limit yourself to local or state incentives. You can also take part in a federal program through the Investment Tax Credit (ITC). You can qualify for this credit as a homeowner if you purchase your system fully with cash or through a solar loan. You claim the credit when you file your federal taxes for the year. This credit covers 30 percent of your system costs. This is a good year to add solar because federal tax credits are available and they provide a huge deduction.

 

NJ Solar Sales Tax Exemption

New Jersey Solar Sales Tax Exemption allows a 100% exemption on all major solar energy equipment you purchase for your home, which means you save roughly 7% right off the top. All taxpayers are eligible for the exemption. 

 

Net Metering in NJ

Net metering in New Jersey allows homeowners to earn credit for excess energy produced by their system. The surplus energy flows back to the grid and is tracked by a bidirectional meter. The credits offset your utility bill when sunlight is in short supply. 

 

NJ Solar Rebates for New Construction

The NJ Clean Energy Residential New Construction Program offers a range of incentives, including the Zero Energy Ready Home and the Energy Star Home. In the form of cash rebates, this NJ solar incentive offsets the higher cost of building high-quality, durable, energy-efficient homes.