Property tax exemptions let you ignore the added value of your solar system when you calculate how much property tax you need to pay on your home. Tax Exemptions: Sales tax exemptions go into effect at the time of purchase for your solar panels.You might receive either a dollar-for-dollar credit or a percentage of the value. This will allow you to get a credit towards your monthly utility bill for the value of excess energy generated by your solar panels. Net Metering: Be sure to speak to your Piscataway utility company about signing a net metering agreement.
(A tax credit is different from a tax deduction.) Tax Credits: Tax credits are dollar-for-dollar reductions in the amount of income tax that you owe the federal government.Some solar incentives you might qualify for are:
Certain incentives come from your specific utility company, county or municipality, some from the state of New Jersey and others from the federal government. You might be eligible for various types of incentives, such as cash back, discounts or monthly utility bill credits, depending on your situation.
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