Solar businesses in New Jersey are installing more solar panels than ever before due to the state’s aggressive initiatives to lower greenhouse gas emissions as well as federal tax incentives.  According to PSG&E (Public Service Enterprise Group), New Jersey has more solar installations than any other state in the nation except California.  Customer rebates, solar renewable credits plus an innovative net metering billing system make solar power attractive to customers.  PSG&E is a publicly traded energy company based in N.J..  It is one of the ten largest electric companies in the U.S..

PSG&E has recently received approval to expand its Solar Loan Program by approximately $143 million to finance the installation of 51 megawatts of solar energy systems on houses, businesses and municipal buildings.

New Jersey business have capitalized on federal incentives as well. Last year’s federal stimulus bill offers a 30% tax incentive for solar projects.  According to the New Jersey Business News, “The Number of commercial solar installations tripled in the state over the previous year to more than 2700 and is on track to double again this year.  The size of individual projects also has doubled in the past two years.”

“Rooftop installations in New Jersey last year saw way more growth than the rest of the country,” said Larry Sherwood a solar energy analyst with the Interstate Renewable Energy Council. “It was a combination of the available real estate for solar, combined with incentives that made that happen.”