Residential Solar Incentives and NJ SRECs for Your Home

The Federal Government and New Jersey offer unbeatable tax benefits when it comes to solar energy with Solar Renwable Energy Certificates or SRECs

Federal Solar Incentives

Investment Tax Credit – The federal government will give you a tax credit for 30% of the cost of your solar system. This means Uncle Sam will give you back taxes you’ve paid equal to 30% of the cost of the system!

• The solar ITC credit is guaranteed by federal law through December 21st, 2016
• The solar ITC may be used to offset the Alternative Minimum Tax (AMT)
• Unused tax credits may be carried forward to the next succeeding year

30% of your residential solar investment is guaranteed in the first year!

New Jersey Solar Incentives

New Jersey has one of the most advantageous tax systems in the country when it comes to solar energy. By issuing Solar Renewable Energy Certificates, or SRECs, New Jersey has positioned itself at the forefront of the movement towards clean, cost efficient and renewable energy.

• Solar Renewable Energy Certificates (SRECs)
  The New Jersey Clean Energy Program issues one solar renewable energy certificate (SREC) for every 1,000 kWh of electricity produced by a qualified New Jersey solar energy system. A typical 7 kW system will produce 8-9 SRECs per year and SRECs are issued for 15 years. New Jersey electric utilities need to buy your SRECs to comply with the state’s Renewable Portfolio Standards (RPS), requiring that an increasing percentage of the state’s electricity be produced from solar. Geoscape Solar trades your SRECs as part of our SREC Easy Trade™ program.  We can show you how SRECs will provide NJ resident's years of investment income from your solar system.
  
  
• Net Metering
  Net metering allows you to sell your solar electricity back to your utility when you’re not using it - at full retail price. First you use your solar power during the day to meet your own needs. Any excess electricity you generate actually spins your meter backwards so you never waste your solar energy production. At night and on cloudy days when you are not producing as much electricity, you draw energy back from the utility company, just as you do now.
  
  
• Utility Financing
  PSEG, JCP&L, Atlantic City Electric and Rockland Electric solar financing programs are currently unavailable.
  
  
• State Rebates
  The New Jersey Renewable Energy Program (REIP) rebates are no longer active.