Take Advantage of Local New Jersey Tax Incentives for Solar Panels
Find out exactly how much solar will save Trenton, NJ homeowners
Cost of Solar in Trenton, NJ
New Jersey has been a leader in solar installations, ranking as a top 10 solar state throughout the past decade. One of the main reasons that the state has seen such positive growth is due to the reasonable cost of solar in NJ. As a result, residents of Trenton have been eager to install solar panels and take advantage of the huge savings available to them.
You’ve probably noticed more and more solar panels popping up in Trenton neighborhoods. If you’re thinking of joining the solar revolution, this article will help you understand the cost of solar and how incentives and solar financing options make this an affordable choice for many homeowners. Momentum Solar is one of the highest-acclaimed solar companies operating in NJ and offers Trenton residents the benefits of solar at an affordable price.
Solar Tax Credits & Incentives: Lowering the Cost of Solar in Trenton
In order to understand the total cost of solar, you’ll need to know which solar tax credits and incentives are available to you. These rebates and incentives can substantially lower the overall cost of your solar panels, meaning that your system can pay for itself in a shorter period of time.
Federal Solar Tax Credit
Trenton homeowners can use the federal Investment Tax Credit (ITC) to lower the cost of their system by 26%. The program allows you to reduce your federal income tax liability by the equivalent of 26% of the cost of your solar panels. The solar tax credit has been one of the most popular incentives offered in the United States and has motivated millions of homeowners make the switch to renewable energy.
The ITC will not be available forever – the federal government has announced plans to phase out the program in the coming years. Homeowners can take advantage of the following price reductions until then:
- 2020: 26% reduction
- 2021: 22% reduction
Solar Financing Options
At Momentum Solar, we are pleased to offer a variety of financing options for your solar energy system. Customers can pay for their systems using loans, cash, cash credit or with a Power Purchase Agreement (PPA).
With the cost of your solar electricity locked-in for 10 years through the lease agreement, you won’t be subject to rising energy costs and can better plan for your future. To learn more about our solar lease and other solar financing options, please contact our knowledgeable team today to schedule your free consultation. We have been helping Trenton residents go solar for the past decade and look forward to providing you with the information you need to make that next step!
This customer’s bill is estimated to be $150 lower than the previous bill.
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