New Jersey BySolar
973.784.4191 Renewable Energy Systems for Businesses & Residences

Purchase with Cash

By taking advantage of the state and federal incentives being offered right now, a business can typically pay off of the cost of a solar electric system within 2 to 6 years.

Current incentives:

  • Federal Investment Tax Credit (ITC) - Business owners will receive a cash grant equaling 30% of the net installation cost within 60 days of the system's completion.
  • Depreciation - Businesses are able to write-off their solar system investment over a period of five years with more than 50% of the depreciation available within the first two years. Typically, the tax benefit from this write-off is about 30% of the total system cost. (This is on top of the 30% ITC incentive mentioned above.)
  • Sales of Solar Renewable Energy Certificates (SRECs) - These solar energy attributes represent 1,000 kilowatt hours of electrical production. Businesses can sell the SRECs they accumulate each month, providing an additional source of income to help reduce the cost of the solar system. Learn more about SRECs.
  • Energy Savings - A solar electric system will reliably produce electricity during daylight hours and reduce your electricity bills for more than 30 years. The more energy bills increase in the future, the more you'll be saving!