Incentives Watch: Here Comes The Sun

New Jersey is leading the pack when it comes to providing solar incentives to various businesses. In fact, companies as far away as California are heading East to take advantage of New Jersey’s solar incentive program, according to a recent article in The Sacramento Bee.

This fact is interesting, considering New Jersey is actually next in line after California in terms of its share of the solar market. Large solar companies from California are setting up shop in New Jersey to work on commercial rooftop solar projects, notes Rick Daysog in his article in The Sacramento Bee.

Of course not everyone is happy, as some people feel that East Coast companies are being hurt by the infiltration of California companies working on projects in New Jersey. It will be interesting to see how many other companies are drawn to New Jersey in the future, as the state continues to provide solar energy renewable certificates and other incentives.

For more in-depth information regarding the solar industry in New Jersey, including a discussion of the various state and federal incentives available, check out this interesting article from Bloomberg Law Reports.

Rounding Out Third . . .

After California and New Jersey, Arizona comes in third place in terms of the amount of solar installations being done. However, the amount of rebates offered by utilities in Arizona has recently been decreased. For more information about the changing landscape of solar incentives in Arizona, check out this CALFINDER blog.

For a look at the numerous state credits and incentives offered in California, New Jersey, and Arizona, check out Bloomberg BNA’s Green Incentives Navigator here.

In other developments . . .

Louisiana recently amended its wind and solar energy system tax credit regulations by changing the testing and certification requirement for certain electrical components. For more information about this credit, check out Bloomberg BNA’s article in the Weekly State Tax Report, which can be read in its entirety here.

In Hawaii, the Department of Taxation continues to issue letter rulings regarding a company’s eligibility for the renewable energy technologies income tax credit for each solar photovoltaic system installed on the same site. Read more about Letter Ruling 2012-01 here.

Compiled by: Kathleen Caggiano