The New Jersey Board of Public Utilities (NJ BPU), through New Jersey's Clean Energy Program, has created new incentives intended to increase the manufacturing of solar panels and inverters and create green jobs in the state.
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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 $0.25 per kW for panels, and up to $0.15 per kW for inverters. According to the NJ BPU, this incentive is expected to grow New Jersey's economy by providing $1 million in incentives to the state's consumers and businesses in 2009.
The program complements existing solar incentives of up to $1.75 per watt for residential projects up to 10 kW and $1 per watt for nonresidential projects up to 50 kW. 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% of the product cost – including the labor, overhead, components and raw materials – from facilities located in New Jersey.
SOURCE: New Jersey Board Of Public Utilities
