The New Jersey Clean Energy Program (NJCEP) provides cash rebates towards the installation of solar electric systems. For small commercial systems rated as under 50 kW in size, the NJCEP will provide $1.00 per watt (maximum of $50,000).
Grants and Tax Incentives
TC - Stimulus Grant Under
the current Stimulus Bill, the federal government is awarding a cash
grant in lieu of the Investment Tax Credit (ITC) equaling 30% of the
installation cost - paid to the solar system owner within 60 days after
installation.
Depreciation Under
the federal Modified Accelerated Cost-Recovery System (MACRS),
businesses may qualify for tax benefits resulting from the rapid
depreciation of the solar asset over five years. During
2009, 50% of the depreciation tax allowance can be taken within the
year.
Revenue and Savings
Solar Renewable Energy Certificates (SRECs) The
annual sale of SRECs helps to amortize the cost of the solar system and
contributes to business revenue once it's paid off (typically within 5
years). (More)
Energy Savings From the day it's installed, a solar electric system reliably produces electricity during daylight hours for more than thirty
years. When the cost of utility-supplied electricity inflates, your savings will be even greater.
Additional Resources for Businesses
Federal Incentives/Policies for Renewables & Efficiency
