Rebates and Credits

When you decide to go ahead with your solar energy system, you'll find that there are many cash rebates and other incentives that will immediately make your purchase very affordable.

For a limited time, the government is providing significant tax credits and cash back rebates as incentives to go solar. Because these have budget limits to them, it is imperative that you take adavantage of them as soon as possible.

30% Federal Tax Credit

Consumers who install solar energy systems (including solar water heating and solar electric systems) can receive a 30% tax credit for systems placed in service before December 31, 2016

Residential Project
Edison, NJ (2009).
Click for detailed pic.
Residential Project
Edison, NJ (2009).
Click for detailed pic.

NJ Renewable Energy Incentive Program (REIP)

This provides cash rebates that reduce the upfront cost of installing solar energy systems. Currently, homes that have been energy audited get up to $1.75 rebate for each watt in your system. For example, for a 10 kW (10,000 watt) system, the rebate comes to $17,500.

Commercial Project
Jersey City, NJ.
Click for detailed pic.
Commercial Project
Jersey City, NJ.
Click for detailed pic.

Net Metering

Net metering allows you to save or even earn money for producing electricity and selling it back to the grid.

When a net metering customer's solar system is producing more power than is being consumed, the electric meter runs backward and generates credits against any consumption. When a net metering customer uses more power than is being produced, the meter runs forward normally.

Solar Renewable Energy Certificate (SREC)

These are certificates that have a cash value that you receive whenever your system generates 1,000 kWh of electricity. Currently, you get $500 for each 1000 kWh of elctricity you generate. SRECs can then be sold on the SREC tracking system, providing revenue for the first 15 years of the system's life.