Why Solar, Why Now, Why NJ.
New Jersey is the fastest growing market for solar photovoltaic’s in the United States and one of the largest in terms of installations and installed capacity, second only to California. Much of this success is due to New Jersey’s Solar Financing Model, which relies on high renewable energy standards and the use of SREC's.New Jersey has mandated by 2021, 2.12% of all electricity must be solar electricity. This amount is estimated to be 1,600 megawatts (MW) – equivalent to providing electricity for up to 2 million homes and businesses. Due to these goals please see incentives below as to why now may be the right time to install a solar system.
Federal Credit (30% tax credit )
NJ Sales Tax Exemption (7% savings)
NJ Property Tax Exemption (Benefit of increased property value without increase of property assessment - residential only)
NJ Solar Renewable Energy Credit (SREC) Each time a system generates 1,000 kWh of electricity, an SREC is earned and placed in the customer's electronic account. SREC's. can then be sold on the SREC tracking system, providing revenue for the first 15 years of the system's life.
SRECS are currently trading for $ 200.00 each (February 2012)
Modified Accelerated Cost-Recovery System (MACRS) 5 year Depreciation
I welcome the chance to do a free analysis of your energy consumption and how Horizon Solar Energy can reduce and stabilize your future electric bills.