2023 Solar Incentives Guide for Maplewood, NJ - Tax Credits & Rebates

In this guide, we'll cover the latest solar incentives and rebates available in Maplewood.

You'll learn about:

  • Local & State Solar Incentives
  • Federal Tax Credits (Updated for 2023 and beyond)
  • Ways to optimize your solar investment

Solar installers are experts in maximizing your solar tax credits and rebates.
Get a free quote from one of our trusted Maplewood solar installers to see how much you can save.

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated January 20, 2023

Why you can trust EcoWatch

We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

What Solar Tax Credits, Incentives, and Rebates are Available in Maplewood?

Solar Energy Sales Tax Exemption

Incentive Type:
Sales Tax Incentive
100% exemption

Successor Solar Incentive (SuSI) Program

Incentive Type:
Performance-Based Incentive
Net-Metered Residential: $90/SREC-II

Small Net-Metered Non-Residential located on Rooftop, Carport, Canopy and Floating Solar
Projects smaller than 1 MW (dc): $100/SREC-II, $120 for public entities
Projects 1 MW to 5 MW (dc): $90/SREC-II, $110 for public entities

Net Metered Non-Residential Ground Mount
Projects smaller than 1 MW (dc): $85/SREC-II, $105 for public entities
Projects 1 MW to 5 MW (dc): $80/SREC-II, $100 for public entities

Community Solar LMI: $90/SREC-II
Community Solar Non-LMI: $70/SREC-II

Property Tax Exemption for Renewable Energy Systems

Incentive Type:
Property Tax Incentive
100% of value added by renewable system

Solar Renewable Energy Certificates (SRECs) Registration Program

Incentive Type:
Solar Renewable Energy Credit Program
Determined by the market.
In June 2016, SREC traded at an average price of $229.90.

PSE&G - Solar Loan Program

Incentive Type:
Other Incentive

NJ Clean Energy- Residential New Construction Program

Incentive Type:
Rebate Program
Incentives depend on the HERS score and the classification
Single family homes: Ranges from $1,125 to - 24,250
Multi-single homes: Ranges from $1,125 to $18,188
Multifamily homes: Ranges from $625-$12,125

Home Performance with ENERGY STAR Program

Incentive Type:
Rebate Program
Rebates
Single family : $2,000 to $4,000
Multi-family : $500-$1,500 per unit
Rebates for single family and multi-family should not exceed 50% of the cost of the measures used to calculate total estimated savings (TES)
See table below for details
Loans
Single-family: $5,000 (Tier II) or $10,000 (Tier III) 4.99% interest loans up to $15,000 (where utility 0% financing is unavailable)

COOLAdvantage Program

Incentive Type:
Rebate Program
Central AC: Tier 1 $300(Tier 1), $500 (Tier 2)
Ductless Mini Split A/C or Heat Pump: $500
Air Source Heat Pump: $300 (Tier 1), $500(Tier 2)
Geothermal Heat Pump: $500

NJ Clean Energy- WARMAdvantage Program (Electric and Gas)

Incentive Type:
Rebate Program
Residential Electric Customers (including municipal utility customers):
Solar Hot Water Heater: $1,200
Heat Pump Water Heater: $500
Geothermal Heat Pump: $500
Air-Source or Ductless Mini-Split Heat Pump: $300- $500
Residential Gas Customers (including propane):
Gas Furnace: $250- $500
Gas Boiler: $300
Gas Water Heater: $300
Solar Hot Water Heater: $1,200
Oil Heating Customers:
Oil Furnace: $250
Oil Boiler: $300

Combination Rebate
Boiler and Water Heater Combination Rebate: $700
Furnace and Water Heater Combination Rebate: $700- $950

New Jersey Renewable Energy Incentive Program (Sustainable Biopower)

Incentive Type:
Rebate Program
$900,000 or 30% of the cost per project, which ever is less

Federal Residential Renewable Energy Tax Credit

Incentive Type:
Personal Tax Credit
30% federal tax credit for systems placed in service after 12/31/2021 and before 01/01/2033. Good for: solar water heat, solar photovoltaics, biomass, geothermal heat pumps, wind (small), fuel cells using renewable fuels.

Source: https://www.dsireusa.org/


Solar incentives are designed to make renewable energy usage more affordable via financial incentives for individuals who install solar panels on their homes. Incentives can include things like discounts, cash back or credit towards your monthly utility bill. Some incentives are provided by the federal government, while others are handled by the state of New Jersey or by your specific utility company, county or municipality. Categories of solar incentives include:

  • Tax Credits: These credits are dollar-for-dollar reductions (not deductions) in how much income tax you owe the government.
  • Rebates: Your solar installer might help you claim a rebate, or partial refund after purchase, for your solar system. States or counties will also offer limited-time rebates at various times. Any rebates you receive will usually come off the total price before any tax credits are calculated.
  • Net Metering: You can sign a net metering agreement with your Maplewood utility company, that may apply to all or a percentage of the excess electricity that is generated by your solar panels. Your utility company will then deduct this value from your utility bill each month.
  • Solar Renewable Energy Certificate (SREC): Generally, solar systems that produce over a specific (generally small) amount of electricity will qualify for SRECs or other performance-based incentives. SRECs and performance-based incentives in general are typically given by your state government. SRECs can be sold to your utility company or another buyer, and the money you receive is normally considered part of your taxable income.
  • Tax Exemptions: Sales tax exemptions are applied at the time of purchase for your solar panels. Property tax exemptions allow you to exclude the added value of your solar system when you calculate how much property tax you need to pay.

Federal Solar Incentives

Federal solar incentives are likely the first thing that comes to mind when you think about solar incentives. The solar incentive that you may be most familiar with is the Federal Solar Investment Tax Credit (ITC), which provides a credit on your taxes equal to a predetermined percentage of the cost of your solar system.

The ITC can be credited towards the value of a solar system installed on your primary or secondary residence in the United States. The solar system must have been installed on a property you own after January 1, 2006 for you to be eligible for the credit. Initially, the ITC applied to 30% of all costs (panels, equipment, labor and accessories), although the covered amount has fluctuated slightly over the years between 26-30%. The installation date of your solar system will determine what percentage you are eligible for. There is no cap on the claim amount.

To better understand exactly how much the ITC could save you, contact your local Maplewood solar panel installer.

In August 2022, the Inflation Reduction Act laid out new provisions for the ITC, now called the Clean Energy Credit. The new Clean Energy Credit extends until 2035. Homeowners can now receive a 30% credit for solar systems installed between 2022 and 2032. The credit will then decrease annually until it expires. Beginning in 2023, it will also be easier to get credits for energy storage systems under this new program.

Click here to learn more about the new Inflation Reduction Act. The best way to fully understand how the new Clean Energy Credit might apply to you is to talk with your local Maplewood solar panel installation expert.

State & Local Solar Incentives

Some solar incentives are often also provided by state and local governments. As with federal incentives, these can include tax credits, rebates and more. These incentives may be given out by your county or municipality, or by the New Jersey government. Some are available for a limited time, while others are ongoing.

Next Steps for Installing Solar in Maplewood

Solar incentives might be offered by your local utlity company, the New Jersey government or the federal government. The large number of solar incentives available has helped nationwide use of solar energy increase greatly in the last 15 years. Reach out to your local solar panel installer today to learn more and to save as much money as possible on solar panels for your Maplewood home.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Regional Coverage

Momentum Solar

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best Technology

Tesla Energy

★★★★★
4.5

  • Price-match guarantee
  • Sleek, efficient, and durable solar panels
  • Best solar battery on the market
  • Some reported issues with customer service
  • Customer service varies by local dealer

EcoWatch's Maplewood, NJ Solar Incentives FAQs

Can I receive any incentives when I add solar panels to a vacation home, rental property or commercial property?

Many solar incentives are intended to apply to a property located within the United States that you own, and most secondary residences will fall under this distinction. Other solar incentives may be available for commercial properties, depending on the details. We recommend talking to your local solar installer and/or tax professional to fully understand what incentives will apply to your specific situation.

How do I know if I qualify for different solar incentives?

It's best to speak with your local Maplewood solar installer for a better understanding of which incentives your project may qualify for. Typically, solar incentives apply to new solar systems installed on a property you own (in the U.S.) within a specified date range. Some incentives, like those given by the state of New Jersey, may have additional requirements.

What are some environmental benefits of adding solar panels to my home?

Solar energy is renewable — by changing where you get your energy, you help reduce the strain on our planet's resources. You can also reduce your home's CO2 emissions by 300 pounds a year, or roughly 5,000 pounds over 20 years.

If I switch my appliances out for ones that can utilize solar energy, are there any benefits I can claim?

The new Inflation Reduction Act provides multiple incentives that reward homeowners who make eco-friendly upgrades. Some incentives include rebates and tax credits for installing new electric appliances. You can find more details about these incentives here.

Can I apply for incentives both towards the initial cost of solar panels, and later as reimbursement?

The order that incentives will be applied in may vary depending on which incentives you are eligible for but typically yes, you can receive multiple types of incentives for your solar project. Talk with your solar installer or a local tax professional to confirm you are claiming all possible incentives and applying them in the correct order.

Our goal is to reach as many people as we can with sensible solutions like solar energy. Our team of full-time local researchers collects solar price and installation data for every city in America then compiles it to create these digestible city guides. If you want to read our solar expert's opinion on the top solar companies featured here, follow this link.

Solar incentive research was conducted by Melissa Smith and Karsten Neumeister. Local data analysis was conducted by James Savino. See something we missed or could do better? Email the editor.

Follow us