Click Here to Apply For Your Solar Energy Incentives While They Last

Solar energy systems are expensive. Fortunately, there are a wide range of federal, state and local programs that substantially offset these costs in the form of tax credits, rebates, grants, loans, leasing and direct equipment sales. A complete and up-to-date list of state and local programs is maintained at DSIRE, the Database of State Incentives for Renewable Energy. Please note that these programs are limited. For example, California's rebate program runs out of funding well before the end of the year. This section goes into more detail on programs offered to New Jersey business and residential customers.

Business and Residential Solar Energy Financial Incentives

New Jersey offers one of the best solar energy system incentive programs in the country. Customers receive direct rebates of $5.30 per DC watt for systems less than 10kw. For systems over 10kW, a rebate formula applies $5.30 to the first 10kW, $4.35 per watt to the next 30kW, $3.75 to the next 60kW and $3.60 to the next 600kW. In addition, PV systems are not subject to 6% State sales tax.

S-RECs

SREC stands for Solar Renewable Energy Certificate and is a tradable certificate that represents all the clean energy benefits of electricity generated from a solar electric system. All solar system owners in New Jersey with grid-connected generators can participate in New Jersey's SREC Program. Akeena Solar will advise our customers on the best way to take advantage of this program.

Federal Business Solar Energy Incentives

30 Percent Investment Tax Credit
This tax credit is available for businesses (not residences) that invest in or purchase qualified solar energy equipment. This credit applies to qualified home offices.

5 Year Accelerated Capital Depreciation
This accelerated depreciation is available for businesses (not residences) that invest in or purchase qualified solar energy equipment. This accelerated depreciation also applies to qualified home offices.