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
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
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This bill removes or loosens rules that limit where solar energy projects can be located if they want to participate in New Jersey's community solar program. Community solar lets groups of people share the benefits of one large solar installation. By changing these geographic restrictions, more solar projects may qualify, making it easier to build solar energy across the state.
- NJ LegislatureOct 15, 2026Removes limits on where community solar projects can be built
This bill changes the rules about where solar energy projects can be located in New Jersey's community solar program. Currently, there are geographic restrictions that limit where these projects can be built. The bill removes or reduces those restrictions so more communities can participate in solar energy programs.
- 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.