NJ BPU Provides Incentives to Grow Solar Manufacturing in the Garden State (purchase)

[Citizen Chin]

NJ News - NJ BPU Provides Incentives to Grow Solar Manufacturing in the Garden State

The New Jersey Board of Public Utilities (BPU), through New Jersey’s Clean Energy ProgramTM, recently created new incentives to lower solar installation costs and to increase the New Jersey-based manufacturing of solar panels, inverters, and racking systems, creating "green jobs" in the Garden State.

The New Jersey Renewable Energy Manufacturing Incentive (REMI) offers consumers, businesses, and municipalities that purchase solar panels, inverters, and racking systems manufactured in New Jersey a rebate of up to 25 cents per watt for panels, and up to 15 cents per watt for inverters and racking systems. The REMI program is expected to grow New Jersey’s economy by providing $1 million in incentives to the state’s consumers, businesses, and municipalities over the coming months.

"The New Jersey Renewable Energy Manufacturing Incentive will expand and attract new clean energy manufacturing in New Jersey," said BPU President Jeanne M. Fox. "It supports our environmental, energy, and economic development goals and helps establish New Jersey as a hub for the growing green economy." 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. Products must also comply with applicable Underwriters Laboratory standards and be commercially available to the public. A yearly manufacturing audit will be performed to ensure continued manufacturing compliance. Organizations awarded a grant under New Jersey Economic Development Authority’s (NJEDA) Clean Energy Manufacturing Fund (CEMF) are automatically certified as a New Jersey manufacturer.

There has been a tremendous increase in the use of solar power in New Jersey over the last eight years. In 2001, there were six solar installations in New Jersey. Since then, New Jersey’s Clean Energy Program has invested over $274 million to promote solar energy through incentives to businesses, local governments and residents. As of October 31, 2009, there are over 4,500 solar projects installed in the state, generating almost 110 megawatts of power. The New Jersey REMI will support state-based manufacturers in this burgeoning market.

One of the goals of New Jersey’s comprehensive Energy Master Plan is to supply 30 percent of New Jersey’s electric needs from renewable energy by 2020 and to invest in innovative clean energy technologies and businesses to stimulate growth and create jobs in the clean energy industry in New Jersey.

Additional information about the program and all of the business and residential incentives offered by New Jersey’s Clean Energy Program can be found at Home | NJ OCE Web Site or by calling 1-866-NJSMART (1-866-657-6278).