The State of Solar in New Jersey 2019

New Jersey has long been a leader in the nationwide push for more solar energy. The state has installed more than Gigawatts of solar capacity, and has been increasingly rolling out new policies to support solar owners and contractors alike.

So what’s the most current lineup of solar incentives and actions in the Garden State? Below, we take a look at what New Jersey’s solar status is in 2019.

Generous Solar Tax Exemptions
The expense of solar panel systems is far less of a worry for NJ homeowners. With the state’s solar sales tax exemption, residents are free from paying any sales tax on their solar equipment. This results in a total price decrease of 7%.

Additionally, NJ offers homeowners a hefty property tax exemption. The amount eligible for exemption is equal to the amount of value a new solar system adds to the home. It’s yet another way that NJ makes solar more affordable, as property taxes would normally go up after a solar installation because the system would increase the property’s value.

Net Metering
NJ’s net metering policy allows homeowners to get paid for the amount of extra energy their solar panels produce. This energy is sent back to the state’s electrical grid, and in exchange, proportional credits are added to the homeowner’s monthly electric bill.

Solar Renewable Energy Credit Program
The SREC program is yet another way that NJ homeowners can earn through their solar panels. For every megawatt of energy created, residents earn one SREC. These SRECs can be sold to utility companies for around $220-$280. That amounts to an average of $1,100-$1,400 per year for owners of a system that produces 5 megawatts annually.

New Community Solar Pilot Program
Just this April it was announced that NJ’s Board of Public Utilities is now accepting applications for its community solar pilot program. This program will allow neighborhoods to set up their own solar systems that distribute the produced energy throughout the community. Such an arrangement enables low and middle income residents to have access to solar power, even if they aren’t able to afford solar panels of their own.

A Solar Marketing Company can Help You get More Solar Sales in New Jersey
With so many strong incentives to go solar in 2019, solar contractors who operate in New Jersey have the opportunity to bring in far more customers. Teaming up with a solar marketing company like Grid Freedom can help you connect with many promising new clients directly.

Learn More about our Lucrative Solar Leads at GridFreedom.com