buying solar panels new jerseyLooking to Buy and Own Solar Panels in  New Jersey?

If you're considering buying solar panels for your home, ACE Solar partners with banks, lending institutions and utilities to provide the right financing method for your individual needs. We are continually seeking out the best options for our customers who are looking to buy solar panels. For instance, we partner with PSEG to provide the “Solar for All” Solar loan. We also offer zero interest, no payment, “same as cash” short term uncollateralized financing for up to 30% of the system cost. There are also several types of longer term financing tools to make buying solar panels and going Solar feel like an electric bill that goes away after awhile.

Benefits of Buying Solar Panels in NJ & NY

Nationally, in all 50 states, the “Owner” of a renewable energy system is entitled to significant incentives for making an investment in Solar. Therefore, the main benefit of owning your system is not just the savings on your electric utility bill but also the cash flows associated with both the Federal and local state incentives. The individual state incentives are what make some states extremely attractive to own a Solar or renewable energy asset.

Both New Jersey and New York have phenomenal incentives to go Solar!

The Federal Investment Tax Credit:

  • When buying solar panels, homeowners can deduct 30% of their out-of-pocket investment. This credit is utilized when the homeowner files their taxes at the end of the year. (Expires 12/31/2016). CLICK HERE for more specific details.
  • Business Energy Investment Tax Credit: Businesses are eligible for accelerated depreciation benefits. This tax credit applies to solar electric and solar hot-water systems. (Expires 12/31/2016)

In New Jersey and New York State, there are additional incentives available for buying solar panels.

New Jersey Incentives:

  • Solar projects installed in New Jersey that are registered with the SREC Registration Program are qualified to generate Solar Renewable Energy Certificates (SRECs). SRECs represent the renewable attributes of solar generation, bundled in minimum denominations of one megawatt-hour (MWh) of production. New Jersey’s SREC program provides a means for SRECs to be created and verified, and allows electric suppliers to buy and retire these certificates in order to meet their solar RPS requirements. In simple terms, your array will produce energy that you can sell on the open market. You can either sell them yourself, or we can sell them for you and just send you a check. For more details on the SREC program in NJ, please click New Jersey S-REC Program
  • Additionally, if you own an older Solar system and are having trouble processing your SREC sales, ACE Solar, LLC can help! We manage SREC sales for new and old systems… Please contact us if you have any questions.
  • 0% Sales Tax: Solar energy systems are exempt from sales-tax in New Jersey!
  • Property Tax: 100% exemption property taxes. Installing Solar will not raise the taxable value of your home of business!

New York Incentives:

  • In New York, there is a personal income tax credit on Solar PV and solar-thermal systems, equal to 25% percent of the cost of equipment and installation. The credit is capped at $5,000. In August 2012 the credit was amended (A.B. 34) to allow it to be claimed for systems installed under lease or power purchase agreements (PPAs) of at least 10 years in length.
  • For third-party owned systems, the residential homeowner may claim a tax credit in the amount of lease or PPA payments made during the taxable year, for up to 15 years. The 25% incentive for such systems refers to aggregate amount of payments owed rather than the amount made during any single year. The maximum allowable tax credit amount of $5,000 applies to the total amount of credits claimed regardless of the ownership arrangement.
  • 0% Sales Tax: Solar electric and solar hot-water systems are 100% exempt from state sales tax.
  • Property Tax Exemption: 100% exemption for 15 years. (Expires 12/31/2014)

For more details on buying solar panels, click on the links below.

solar installation company New Jersey

Request a Quote to see what your return on investment in buying solar panels would be.