Solar Renewable Energy Credits (SRECS)

Amount: One SREC per MW-h
Maximum Incentive: 2009-2010 compliance year: $693 per MWh ($0.693 per kWh)
Terms: Systems must be registered with NJ Board of Public Utilities; facilities qualify to gererate SRECs for 15 years after the date of interconnection

Property Tax Incentive

Amount: 100% of value added by Solar PV system is property tax exempt.

Sales Tax Incentive

Amount: No sales tax on Solar PV projects.

Net Metering

System Capacity Limit: 2 MW AC
Aggregate Capacity Limit: No limit specified (commission may limit to 2.5% of peak demand)
Net Excess Gereration: Generally credited to customer’s next bill at retail rate; excess reconciled at end of annual period at avoided-cost rate

Federal Incentives

Business Energy Investment Tax Credit

Amount: 30% of property that is part of a qualified Solar PV facility
Maximum Incentive: No limit

Modified Accelerated Cost-Recovery System (MACRS)

Cost of qualified Solar PV facility may be deducted over a 5 year term.