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Solar Incentives

New Jersey is one of the top states to install solar in the nation. High electricity rates, the federal tax credit, net metering and the state’s renewable energy certificate program means that business owners in the Garden State can get an excellent return on their investment when installing commercial solar.

ECS energy has experience throughout the United States, with distributed generation and energy efficiency projects in more than 12 states. This experience brings an abundance of expertise working with multiple agencies and utilities to streamline and optimize design, permitting, incentives and ongoing maintenance for complex projects. This allows our customers to continue to focus on their core business operations and simply enjoy the savings.

Ever changing incentive markets are available at the local, state, federal and utility levels. Our team constantly tracks and analyzes incentive programs throughout the country to identify opportunities for our clients to maximize their energy investment.

26% Federal Tax Credit

The investment tax credit (ITC), also known as the federal solar tax credit, allows you to deduct 26 percent of the cost of installing a solar energy system from your federal taxes. Don’t wait! The federal ITC steps down to 22% in 2023 for businesses.

Graphic outlining the Solar Investment Tax Credit

*ECS energy are not licensed tax professionals; please consult with your CPA or licensed tax professional. The information provided within is to serve as an illustrative guide and is from publicly available sources.

SREC

New Jersey's Clean Energy Program Logo

Solar Renewable Energy Certificates, also called SRECs, available in New Jersey and other states, are ‘certificates’ that represent all of the positive environmental impacts of generating clean solar energy. One SREC is generated for every megawatt-hour (MWh), or 1,000 kilowatt hours (kWh) of solar electricity a solar panel system generates.

*ECS energy are not licensed tax professionals, please consult with your CPA or licensed tax professional.  The information provided within is to serve as an illustrative guide and is from publicly available sources.

Net Metering

With net metering, when your solar energy system produces more electricity than your facility uses during the day, the unused electricity is sent back to the grid. When your facility uses more electricity than your system produces, your property draws electricity from the grid. At the end of your billing cycle, your property is charged for the balance or “net” of what you put into the grid vs. what you took off the grid.

Depreciation Deduction / MACRS

Wallet With Money In It

Modified Accelerated Cost Recovery System is a method of depreciation where the value of your asset reduces at a faster rate in early years. The depreciation is accelerated. MACRS allows business owners to deduct the cost of your solar installation from your taxable income over a period of 5 years. Currently, commercial solar systems can be 100% depreciated in the year they were placed into operation.

*ECS energy are not licensed tax professionals, please consult with your CPA or licensed tax professional.  The information provided within is to serve as an illustrative guide and is from publicly available sources.

Your Investment Value Goes Up, Up, Up

New Jersey, as well as other states, has a property tax exemption for solar panel systems. Under the Property Tax Exemption for Renewable Energy Systems, 100% of the assessed value of the solar system is exempt from the owner’s property taxes. Having a business solar energy system on your facility is a ‘capital improvement’ which adds to your property’s value. Your investment in efficient, clean solar power also adds to the value of your facility but not its tax basis.

Corporate Responsibility

Group Of People With Responsibility

As ECS energy continues to help organizations of all types and sizes across more than 12 states, beyond the cost savings, we have seen one key unifying factor in their decision to use clean renewable solar as their primary energy source. It’s their desire to demonstrate their commitment to the environment as stewards of the planet.

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Let ECS energy help you ensure your energy future with our trusted solutions. Contact us today for a no-obligation evaluation for your facility.