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
No New Jersey official has a verified action on this policy yet.
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