New Jersey Renewable Energy Incentive Program Continues

On May 3rd, 2010, New Jersey began once again accepting applications for  its Renewable Energy Incentive Program (REIP).This is welcome news for residents of Lakewood and surrounding areas, as well as for local installer Arosa Solar, a leader in photovoltaic system installs in New Jersey.

The second cycle of the popular state run program offers rebates of USD$1.35/watt residential and USD$0.80/watt commercial rebates for solar photovoltaic (PV) systems up to 10kW and 50kW respectively.This is an incredible benefit for homeowners and business owners alike, especuially when applied in conjunction with various federal programs designed to lower the up-front cost of installing a clean energy system such as PV panels.

New Jersey has rapidly become the second strongest solar market in the United States, with only California boasting more installs. In the previous cycle of the REIP program, over $17 million in rebates was awarded at higher rates.  The REIP program is one of two rebate programs for solar in the state of New Jersey, where $318 million has been awarded and  5,364 projects supported. Overall, 57MW of new PV was installed in New Jersey in 2009, bringing the total amount installed to date up to a staggering 149MW, according to state officials.

The SREC program is also doing well in New Jersey, and solar installations over 50kW may qualify to receive solar renewable energy credits. These can be sold to further offset the cost of new systems, and after the systems are paid off, they continue to bring in income. The SREC program was created through the state’s renewable portfolio standard policy.

Arosa Solar is a premier provider of photovoltaic installations in New Jersey, and can help customers qualify for many of these programs to defray the cost of new systems.

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