The information below describes the previous REIP Expected Performance Based Buydown (EPBB) Wind Program that is currently on hold.
What is Wind Energy?
Wind is caused by the uneven heating of the earth's atmosphere by the sun. Wind energy can be converted to electricity when captured by the large blades that rotate a turbine.
A list of wind energy contractors who have completed a minimum of three New Jersey-based projects can be found in the Trade Ally database. Certified Wind Site Assessors are also available to help you figure out if wind energy is right for you.
The second step is to submit an application package for your wind energy system. The wind pre-application includes equipment information that will be used to calculate the rebate.
Financing Your System
Rebates - (CURRENTLY SUSPENDED) The Renewable Energy Incentive Program (REIP) provides rebates that reduce the upfront cost of installing wind energy. Unlike solar or biopower, wind energy incentives are based on expected energy production, not capacity. The estimated performance of a specific turbine is determined by the height that the turbine is to be installed.
Tax Credits - A 30 percent federal investment tax credit may be available for residents on the net cost of the wind energy system. A 30 percent federal investment tax credit and an accelerated depreciation schedule may be available for businesses with wind energy systems on the gross cost of the system. Businesses with large wind energy systems may be eligible for a federal production tax credit. Speak with a tax specialist for more information.
Class 1 RECs - All renewable energy project owners in New Jersey with electric distribution grid -connected systems are eligible to generate Class 1 Renewable Energy Certificates (RECs). RECs can be sold or traded separately from the power, providing system owners with a recurring source of revenue to help offset the cost of installation, operations, and maintenance.
Net Metering - This allows qualified customers to receive full retail credit for electric generation on an annual basis. Each year, on the anniversary of the system's interconnection, the customer will be compensated for any unused credit at the cost of wholesale power.
New Jersey's Small Wind Working Group provides information and resources to those interested in learning about wind energy and financial incentives offered. With funding from the U.S. Department of Energy, the Small Wind Working Group developed the Small Wind Model Ordinance that is available to all municipalities to help facilitate the zoning and permitting process.
Other Documents of Interest
- In the Matter of the Appeal by James S. Knoeller Sr for REIP Small Wind Rebate Payment for REIPR-07339
- New Jersey Small Wind Turbine Failure Analysis, Technical Services Agreement Summary
- New Jersey Small Wind Turbine Failure Analysis: Xzeres 442 Wind Turbine, Villas, New Jersey
- New Jersey Small Wind Turbine Failure Analysis: Enertech E44A Blades