Incentives for solar energy

NEWARK — The New Jersey Board of Public Utilities (BPU) recently established new incentives to increase the manufacturing of solar panels and inverters, and to create “green jobs” in the state. This was done through New Jersey’s Clean Energy Program. The New Jersey Renewable Energy Manufacturing Incentive offers consumers and businesses that purchase solar panels and inverters manufactured in New Jersey a rebate of up to 25 cents per kilowatt for panels, and up to 15 cents per kilowatt for inverters. This new program is expected to grow the state’s economy by providing $1 million in incentives to consumers and businesses in 2009. The incentive will expand and attract new clean energy manufacturing in New Jersey, according to BPU President Jeanne M. Fox. “It supports our environmental, energy and economic development goals and helps establish New Jersey as a hub for the growing green economy.” The new manufacturing incentive will be offered through the Renewable Energy Incentive Program. It is in addition to existing solar incentives of up to $1.75 per watt for residential projects that are up to 10 kilowatts, and $1 per watt for non-residential projects - up to 50 kilowatts. The program also can supplement the incentives offered by the Edison Innovation Clean Energy Manufacturing Fund, a program of the New Jersey Economic Development Authority, which provides grants and loans to New Jersey-based manufacturers. To qualify for incentives under this program, applicants must use products manufactured with at least 50 percent of the product cost - including the labor, overhead, components and raw materials - from facilities located in New Jersey. For more information, visit www.NJCleanEnergy.com.