Archive for January, 2010

New Jersey Business Owners Eligible for Grants

Commercial PV systems now falling under federal grant guidelines for clean energy

New Jersey business owners can now receive a grant to help defray the cost of purchasing and installing a photovoltaic system, making ‘going green’ even more affordable for even small businesses.

For FYE 2009 and FYE 2010, treasury grants are now available to those who choose to install photovoltaic systems in New Jersey and elsewhere. Formerly, businesses could qualify for a federal tax credit, but a new system has been set up to allow the U.S. Treasury Department to issue grants equal to 30% of the cost of new commercial solar installation projects initiated in the US over the next 2 years.

New Jersey business owners can receive a cash grant through this federal stimulus package. The maximum benefit equals $1,500 per 0.5 kW for qualified fuel cell property; between 10 and 30% of the cost of teh system. Grant applications must be submitted by 10/1/2011. Payment of grant will be made within 60 days of the grant application date or the date property is placed in service, whichever is later.

This is a better system than the original tax credit available, and these grants can still be combined with other incentives and loans available at the federal and state level for photovoltaic installations. PV systems can save New Jersey businesses considerable costs over a five to ten year period, and bring in additional revenue by qualifying for the state’s SREC program.

Visit Arosa Solar to learn more about PV systems and federal grants in place.

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