Market Update

Solar energy presents economic and conservation opportunities.

 

In a surprise move, the federal government approved a multi-year extension to the solar Investment Tax Credit (ITC) at the end of 2015.  This credit is an essential component of solar investment economics, and had been set to expire at the end of 2016.   As a result, the solar industry was already beginning to adjust it project financing plans.

With the new extension, however, the ITC will continue to be available for five more years on a declining schedule.  This will allow the strong solar industry in the US - especially in NJ - to continue growing.   The solar industry has adjusted quickly to this announcement, and fresh momentum is emerging to take advantage of this incentive.   2016 will be a big year for solar in the Garden State, helping school districts capture energy savings from a clean and renewable energy source.  

For districts considering a solar project, there is still value in moving quickly.  The new extension mandates that the tax credit begin declining year over year.   The economic value of a solar project will therefore be at an all time high over the short term, before it begins to decline and eventually expire.   

We would encourage districts to take a proactive stance by exploring the vast benefits offered by solar project initiatives through the ACESplus program.  ACESplus provides convenient access to the services needed to help get your solar project implemented. 

Phone

(732) 296-0770

Contact

ACES Updates

For ACES Members - Sign Up!

Programs

  • Electricity Supply Service
  • Natural Gas Supply Service
  • Solar feasibility
  • Energy Savings Programs

Partners

  • NJSBA
  • NJASBO
  • NJASA
  • Gabel Associates

Login