In the State of New Jersey, all solar energy equipment is exempt from the state’s sales tax. The exemption applies to devices approved by the Board of Public Utilities that are designed to provide heating or cooling by converting solar energy into some other usable
The New Jersey Economic Development Authority established a “Garden State C-PACE program” to facilitate the financing of Commercial-Property Assessed Clean Energy (C-PACE) projects in municipalities that opt in. While PACE financing usually entails voluntary assessments on property, the Authority can also establish a loan loss
In addition to the Garden State Commercial Property Assessed Clean Energy (C-PACE) Program, municipalities in the top 1/3 in terms of population can establish local C-PACE programs to finance projects fitting certain criteria for energy efficiency and renewable energy. Those within these jurisdictions may apply
New Jersey offers a property tax exemption for renewable energy systems that meet on-site electricity and HVAC needs for businesses. Eligible renewable energy systems can use geothermal, solar thermal, biomass, landfill gas, and other energy types.
Farmland that uses biomass, solar, or wind energy generating systems can have those systems assessed under the Farmland Assessment Act under certain conditions. The land and systems on it must be part of an operating farm during the assessment year and the year prior. The
The New Jersey Renewable Portfolio Standard requires electric utilities to derive 50% of energy sales from Class I renewables and 2.5% from Class II renewables by 2030. Eligible Class I renewable energy sources include geothermal, landfill gas, solar, anaerobic digestion, and certain forms of sustainable
