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Powerlutions Solar Company is a NABCEP Certified-Led, full service solar installer in NJ, NY, FL, CT & MA. Enjoy a 1:1 project experience, overseen by one of our dedicated solar specialists.
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When a commercial or residential solar PV system is built in Edison New Jersey, the owner is able to file for a federal income tax credit. The tax credit for both states is currently 30%
Commercial solar systems may also take advantage of Accelerated Depreciations (MACRS), which allows a commercial solar project owner to depreciate almost the full value of the cost basis year one.
Learn MoreEligibility will vary depending on your precise location.
Solar system owners in Edison can take advantage of the New Jersey State performance based solar incentive system, called Successor Solar Incentives (SuSI). A solar system earns one credit for every 1,000 kilowatts hours (1 Megawatt hour) that the system produces. For most residential systems these certificates are $90 and most commercial solar systems would receive $100.
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Full-service commercial solar solutions for properties in New York and New Jersey.
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Store solar power safely and affordably. The leading battery storage installation company.
Protect your investment with custom-design critter guards.
Keep your green vehicle going strong with ev chargers.
In Edison, New Jersey, the shift towards sustainable energy sources like solar power is not just an environmental choice but also a financially savvy one, thanks to various tax credits and incentives. This article explores how Edison residents can leverage these opportunities to make solar power in Edison an economically attractive option.
The Federal Investment Tax Credit (ITC) for solar installations is a significant incentive:
Example Calculation:
Expense | Amount |
---|---|
Total System Cost | $20,000 |
30% Federal Tax Credit | -$6,000 |
Net Cost to You | $14,000 |
New Jersey complements federal incentives with its own programs:
SREC Example:
Year | MWh Produced | SRECs Earned | Estimated Price per SuSI | Total Earnings |
---|---|---|---|---|
2024 | 10 | 10 | $85 | $850 |
2025 | 10 | 10 | $85 | $850 |
For Edison residents, solar energy isn't just about contributing to a greener planet; it's a strategic financial decision. With both immediate and long-term benefits, leveraging tax credits and incentives can significantly offset the initial investment in solar panels, making it a wise choice for homeowners looking to save money while enhancing their property's sustainability.
By understanding and taking advantage of these incentives, Edison residents can enjoy a cost-effective transition to solar energy, benefiting from both the economic and environmental rewards. Remember, the specifics of each incentive can change, so it's wise to stay updated through local government resources or by consulting with a solar professional in Edison.
1. Estimate savings on your energy use 2. Leverage the best state incentives
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