New Jersey, United States [RenewableEnergyWorld.com] The New Jersey Board of Public Utilities (BPU), through New Jersey’s Clean Energy Program, announced new incentives to increase the manufacturing of solar panels and inverters and create green jobs in the state.
The New Jersey Renewable Energy Manufacturing Incentive offers consumers and businesses that purchase solar panels and inverters that are, at least in part, manufactured in New Jersey a rebate of up to $0.25 per watt for panels, and up to $0.15 cents per watt for inverters.
The rebates, offered through the Renewable Energy Incentive Program, are in addition to the existing solar incentives of up to $1.75 per watt for residential projects that are up to 10 kilowatts, and $1 per watt for non-residential projects — up to 50 kilowatts.
This new program is expected to grow New Jersey’s economy by providing $1 million in incentives to the state’s consumers and businesses in 2009.
To qualify for incentives under this program, applicants must use products manufactured with at least 50 percent of the product cost — including the labor, overhead, components and raw materials — from facilities located in New Jersey.