Invest in your company’s futurePredictability is key for any successful business, and now you can have more predictability in your monthly energy expenses. With a solar system from NJ Solar Power, you’ll be getting more control of your monthly costs and an added layer of protection against unpredictable rate hikes.
Our Renewable Energy Management Solutions will help lower your operating costs, reduce your carbon footprint, provide regulatory compliance, and ultimately increase asset value. Our industry-leading team of design professionals will provide you with top tier products to meet your company’s needs. The finance team then presents all of the options available today.
Plus, we know you’ve still got a business to run. Our team of experts will work with your company on an installation schedule with minimal disruption to normal working conditions.
Our solutions include:Comprehensive Service - NJ Solar will handle every phase of your project from start to finish. Our industry-leading Best P
Flexible Financing Options - We continually offer the highest level of flexibility in purchase options available in the industry. Our sales team is dedicated to offering the best options available for your home or business.
Industry Leading Team - Executive team consisting of the area's best solar engineering and field installation operators. Currently one of the leading photovoltaic installers, NJ Solar Power can evaluate, design, and implement your renewable solar system that will significantly reduce or eliminate your company's energy costs.
Tier 1 Products - We have always installed the Best Products from financially secure companies, ensuring the highest quality for your solar investment.
Best Practices - Our industry-leading best practices ensure that we are with you for the complete lifecycle of your project.
Zero down to start saving todayHigh upfront cost is one of the biggest fears people have about switching to solar. NJ Solar Power offers a variety of options to accommodate your financial situation so that you can achieve money-making efficiency without breaking the bank. No money out of pocket No matter what financing option you choose, you’ll be getting the same great customized system to take some of the stress out of those monthly power bills.
Residential Purchase Program - Why Rent When You Can Own and Make a Profit?
- Significant tax benefits
- Up to 100% savings per month on an average power bill
- Full return on investment in an average of 6 years
- 24/7 monitoring
- Annual electricity savings from not having to pay utility rate inflation
- SREC income for 15 years
- 30% Federal Tax Credit
- Commercial loan
- Operating lease
- Capital lease
Commercial Solar Incentives
Is your business taking advantage of generous solar incentives yet?Right now, businesses can receive a 30% Federal Tax Credit to offset income taxes. That means significant savings you can use to reinvest back in your company in whichever way you see fit. That’s guaranteed cash in the bank at the end of the year that your company otherwise wouldn’t have. How often are you offered a deal with guaranteed return on investment like that?
Rebates Extended and Upgraded - TemporarilyAs an added bonus, if you get hit with the Alternative Minimum Tax, this credit allows No rebates last forever though and the clock is ticking on eligibility for federal solar incentives. The current rebate system, originally enacted in 2008, was granted a multi-year extension in 2015 with passage of the Omnibus Appropriations Act (P.L. 114-113). As a result, the new “commence construction” language replacing “placed-in-service” extends these tax credits to projects completed by the end of 2023.
Savings Protected With Carryback and Carryforward ProvisionsIf you’re unable to use your commercial solar tax credit in a given year, it can be “carried back” to retroactively apply to your previous year’s income. Or, it can be carried forward to apply to future annual income totals for up to 20 years.
Federal Energy Policy Act of 2005A provision in the 2005 Act provided an expansion of the business energy tax credit for solar systems installed in 2006 and 2007. In 2006, Section 207 of the Tax Relief and Health Care Act (HR 6111) extended these provisions through December 31, 2008.
- Business energy credits Form 3468: http://www.irs.gov/pub/irs-pdf/f3468.pdf
- General business credits Form 3800:http://www.irs.gov/pub/irs-pdf/f3800.pdf
Tax Depreciation SystemUnder the current Modified Accelerated Cost-Recovery System (MACRS), solar systems put in service after 1986 depreciate at a rate of five years. For more details, take a look at IRS Publication 946, IRS Form 4562 on Depreciation and Amortization. Visit www.irs.gov and search for any forms you need.
Solar System 5-Year Depreciation Rate
|Year||MACRS Depreciation Rate|
Calculating Your System’s Rate of Depreciation for Tax Purposes
The one million dollar project exampleLet’s assume your business has a solar system valued at $1 million. Under the MACRS rate of depreciation formula, the taxable basis for the system is reduced by half of the 30% tax credit. That equals 85% or $850,000.
- IRS Publication 946 (http://www.irs.gov/pub/irs-pdf/p946.pdf)
- IRS Form 4562: Depreciation and Amortization (http://www.irs.gov/pub/irs-pdf/f4562.pdf)
- Instructions for Form 4562 (http://www.irs.gov/pub/irs-pdf/i4562.pdf)
Commercial ProgramCommercial loan benefits With a commercial loan, interest paid is tax deductible and there is no prepayment penalty. It can be customized to suit your company’s unique payment needs.
Operating lease benefits With an operating lease, your company will get greater long-term savings compared to a Power Purchase Agreement (PPA). It also keeps your up-front costs low and locks in a consistently low monthly rate to allow your business plan accordingly without fluctuations.
Capital lease benefits Not unlike a bank loan, a capital lease allows the lessee to take advantage of the federal solar tax credit and is fully amortized with a $1 buyout. All tax benefits including SRECs go to the lessee.