TRENTON – A bill sponsored by Senator John H. Adler which would exempt renewable energy systems, such as solar panels, from local property taxes was unanimously approved by the Senate Economic Growth Committee today.
“The high cost of renewable energy has forced some families in New Jersey to think twice before going green,” said Senator Adler, D-Cherry Hill. “New Jersey needs to do everything it can to encourage families to use alternative, renewable energy sources, and take a strong stand against global warming.”
Senator Adler’s bill, a Senate Committee substitute for S-241, S-394 and S-1098, would exempt any renewable energy system that has been certified by local regulators from local property taxes. The bill would define renewable energy as energy produced by solar technology, photovoltaic technology, wind energy, fuel cells, geothermal technology, wave or tidal action, methane gas from an on-site landfill, or hydropower. The bill would allow property owners to exempt any improvements on their property designed to accommodate certified renewable energy systems as long as the system is in use.
“More than ever, there is greater concern among New Jerseyans over our impact on the environment,” said Senator Adler. “Through this bill, New Jersey will step up to provide incentives to families seeking to switch to cleaner energy sources.”
The bill now heads to the Senate Budget Committee, before going to the full Senate for approval.