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There are plenty of reasons for residents of New Jersey to invest in solar energy. The State offers incentives at multiple levels to help residents install solar power and earn rebates or other benefits.
We’ve compiled some solar incentive information for residents of New Jersey who want to take advantage of current prices. Installing solar power can provide utility bill savings over time and is a positive step toward protecting the environment.
Net metering allows you to share the renewable energy your solar panels produce with other homes. You can do this by sending your excess electricity back to the grid. In return, your utility company will compensate you with payments or energy credits. You can use these credits to purchase energy from the grid when your solar system isn't producing power (such as at night).
All of the electric companies in New Jersey regulated by the New Jersey Board of Public Utilities must offer net metering to their customers.7
You may have heard of PACE (Property Assessed Clean Energy) Financing, a program that will loan the entire cost of an eligible energy upgrade to a homeowner, who can then pay it back over a 20 year period.8
New Jersey does not currently offer any residential PACE programs.9
As a way to promote clean and renewable energy, the federal government has put in place two nationwide solar incentives that are available to Nevada residents. Homeowners should apply for them shortly after installation is complete. Our experts from LG's Solar Concierge can help you understand these incentives and how to apply.
1. New Jersey Division of Taxation. "Sales Tax Exemption Administration Tax Topic Bulletin S&U-6". New Jersey Division of Taxation. p. 1, 17. n.d. https://www.state.nj.us/treasury/taxation/pdf/pubs/sales/su6.pdf. 4 Dec. 2018.
2. New Jersey Board of Public Utilities. "SREC Tracking System". New Jersey's Clean Energy ProgramTM. State of New Jersey. n.d. http://www.njcleanenergy.com/renewable-energy/programs/srec-tracking-system/overview. 13 Dec. 2018.
3. DSIRE. "Property Tax Exemption for Renewable Energy Systems". n.d. https://programs.dsireusa.org/system/program/detail/3100. 13 July 2020.
4. Justia Law. “52:27D-141.4 - Developer to offer to install solar energy system”. 2018 New Jersey Revised Statutes. n.d. https://law.justia.com/codes/new-jersey/2018/title-52/chapter-27d/section-52-27d-141.4/. 8 Mar. 2019.
5. DSIRE. "Solar Easements". n.d.
6. Justia Law. “Solar collectors on certain roofs, homeowners association authority limited”. 2013 New Jersey Revised Statutes. https://law.justia.com/codes/new-jersey/2013/title-45/section-45-22a-48.2. n.d. 28 Mar. 2019.
7. New Jersey Board of Public Utilities. "Net Metering and Interconnection". n.d. https://njcleanenergy.com/renewable-energy/programs/net-metering-and-interconnection. 19 Nov. 2018.
8. PACENation. "About PACENation". PACENation. n.d. https://pacenation.us/about/. 28 Nov. 2018.
9. PACENation. "PACE Programs Near You". PACENation. n.d. https://pacenation.us/pace-programs/ . 28 Nov. 2018.
10. Solar Investment Tax Credit.” SEIA. https://www.seia.org/initiatives/solar-investment-tax-credit-itc . 11 APR. 2019.
11. Federal Government of the United States. "Title 26 - Internal Revenue Code". Federal Government of the United States. p.520. n.d. https://www.govinfo.gov/content/pkg/USCODE-2011-title26/pdf/USCODE-2011-title26-subtitleA-chap1-subchapB-partIII-sec136.pdf . 10 Dec. 2018.
Because life waits for no one, at LG USA we create consumer electronics, appliances and mobile devices that are designed to help you connect with those who matter most. Whether that means cooking a nutritious, delicious meal for your family, staying connected on-the-go, sharing your favorite photos, watching a movie with your kids or creating a clean, comfortable place to celebrate the moments that matter, we'll be there for you every step of the way.
Designed with you in mind, LG products offer innovative solutions to make life good. With intuitive, responsive controls, sleek, stylish designs, and eco-friendly features, our collection gives you the power to do more at home and on the go. It includes:
Mobile: To help you stay connected your way, our mobile devices feature powerful smartphones, slim tablets and stylish smartwatches that fit seamlessly into your life. And whether you want to download the latest apps, shop online, text, track your fitness or just surf the web, they make it easy to do it all on-the-go.
TV/Audio/Video: If you can't get enough of your favorite sports, the latest movies, love 3D entertainment -- or just want to listen to your favorite music in stunning clarity -- our newest electronics can help you experience it all in a whole new way. Featuring brilliant pictures, lifelike colors and sound that envelop you from the very first note, our collection will transform your living room into a stunning home theater.
Appliances: Created to help you enjoy more of what life has to offer, our appliance collection features ranges and ovens that can help you cook healthy, delicious meals more efficiently, clean your dishes faster, do more laundry in less time, and even clean and cool your house so you can enjoy a comfortable space all year long.
Computer Products: Life happens in an analog environment -- and on a digital plane. And our newest computer products can help you experience the best of both worlds. Designed to give you crystal-clear images, deep blacks and rich colors, plus the speed and storage you need to work and play, safeguard memories and protect important documents, they can help you make the most of life in every way.
Explore our complete collection of LG electronics, mobile devices, appliances and home entertainment solutions -- and find everything you need to connect with your friends and family, no matter where they are.