Tax Credits for Businesses That Install Solar Energy Systems
Official: S659 — Provides corporation business tax and gross income tax credits for certain solar energy system expenditures.
Reading: Bill creates new corporation business tax and gross income tax credits for solar energy system expenditures, expanding financial incentives for clean energy adoption.
The tax credits help offset the cost of going solar, making it more affordable for companies to switch to renewable energy.
In clear language
This bill allows businesses and corporations to reduce the taxes they owe if they install solar energy systems. The tax credits help offset the cost of going solar, making it more affordable for companies to switch to renewable energy.
How does this affect you?
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Who does this affect?
- Businesses and corporations considering installing solar panels
- Company owners and managers looking to reduce operating costs
- Property owners who might use solar to lower their tax burden
What can you do?
- If you own a business, research solar installation options and ask your accountant about potential tax credits
- Contact your state representatives to support or provide feedback on the bill as it moves through the legislature
- Learn more about solar incentives available in New Jersey from the Board of Public Utilities website
Timeline
- 2026-01-13: Bill introduced in the Senate
In the press
Coverage in NJ Spotlight News reports on residents rushing to obtain expiring solar tax credits in New Jersey, directly relevant to tax credit policies affecting solar adoption.
Coverage retrieved automatically from major and NJ outlets. Links go to the original reporting; the summary above draws only on these headlines.
One person has acted on this policy
Verified promises, sponsorships, votes, or other actions where the politician's record references this policy. Each entry links to that person's accountability page.
- Bob SmithDNew Jersey
- Bill sponsoredIn progressPrime sponsor of S659: Provides corporation business tax and gross income tax credits for certain solar energy system expenditures.
Related policies
- NJ LegislatureSep 9, 2026Allowing Solar Farms That Serve Multiple Purposes to Join Community Solar Programs
This law expands New Jersey's community solar program to include 'dual-use' solar projects—solar installations that serve two purposes at once, like generating electricity while also protecting farmland or providing shade for crops. Previously, only single-purpose solar farms could participate in community solar, which lets residents share the benefits of solar energy. This change makes it easier for more types of solar projects to serve more communities.
- NJ LegislatureSep 9, 2026Changes to New Jersey's Solar and Renewable Energy Incentive Programs
This law modifies how New Jersey's renewable energy incentive programs work and requires electric utilities to process applications for certain solar projects more fairly. The changes aim to streamline how people and businesses can get solar systems connected to the power grid. This law took effect in September 2026.
- NJ LegislatureSep 1, 2026Garden State Balcony Solar Act
New Jersey is making it easier for residents to install small, portable solar panels on balconies and patios by removing certain safety and zoning barriers. The law requires landlords, homeowner associations, and other property managers to allow tenants and homeowners to use these devices. This opens up solar power to people who rent or live in apartments and can't modify their roofs.
- NJ LegislatureJun 30, 2026Changes to New Jersey's solar and renewable energy incentive programs and utility rules
This bill modifies New Jersey's renewable energy incentive programs and requires electric utilities to process solar interconnection applications more fairly for certain projects. The bill was replaced by another version (S3183) in June 2026, so this version is no longer active.