New Jersey A2665 allows a tax deduction for costs of purchasing and installing battery backups for home solar electrical generators.
New Jersey A2665 provides a gross income tax deduction for costs of purchasing and installing battery backups for certain home solar electrical generators. This deduction is limited to $10,000 per taxable year for systems installed in the taxpayer's primary residence. The bill aims to incentivize homeowners to install battery backup systems, ensuring a supply of electricity during power line repairs. The deduction applies to taxable years ending after the bill's enactment.
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