View our lease benefits which apply to both PA and NJ.
The Pa Sunshine Grant Program is a state run program that helps make solar energy more affordable for Pennsylvania residents and small businesses. PA gives .75$/Watt of power generation rating of a given system. For example a 10KW system will receive a $7,500.00 check after the instillation is complete and inspected by the PA sunshine program. You must be certified by the PA sunshine program as an installer in order to get this grant. The grant value is paid directly to the contractor making it easier for the home owner. For more information click here.
As of 2/19/2009 the IRS published a Residential Renewable Energy Tax Credit for 30% of system and instillation cost with no upper limit. This is a tax credit that customers can take advantage of at the end of the year after they install their system. According to the IRS this tax credit carries forward until 2016 so if you can't use the total credit amount the first year you can do so in years to come. Contact your tax advisor for information on how this credit will help you. For more information click here.
For every megawatt of electricity you generate you will receive one energy credit, whether for your home or business. Credits are then traded through an open market exchange, similar to a stock market. Supply and demand sets the price. SREC return alone nearly covers the cost of the system in 8 years, estimated at only 70% of the projected value! Current value goes for between $600.00 and $660.00.
New Jersey offers a full exemption from the state's sales tax (currently 7%) for all solar energy equipment. This exemption is available to all taxpayers. All major types solar energy equipment, including equipment for passive solar design.
The state cannot tax any electricity generated from your solar system, so that means when you look at your monthly bill, the amount generated using the sun will be tax free.
Solar system homeowner's are eligible for property tax exemption. In order to claim the exemption, property owners must apply for a certificate from their local assessor which will reduce the assessed value of their property to what it would be without the renewable energy system. Exemptions will take effect for the year after a certification is granted.
As of 2/19/2009 the IRS published a Residential Renewable Energy Tax Credit for 30% of system and installation cost with no upper limit. This is a tax credit that customers can take advantage of at the end of the year after they install their system. Contact your tax advisor for information on how this credit applies to you.
Your system creates electrical energy that you can use in your home. This energy usage offsets the amount of energy you use from your utility company and your utility bill goes down. If you create more energy then you use you can sell it back to the electric company at a profit! The electric companies are required to buy back the energy you create.
To provide our customers with affordable energy while reducing our carbon footprint.
For more information about solar energy and how solar can save you money..