New Jersey, one of the strongest solar markets in the country, has been troubled by a budget freeze imposed by new Governor Chris Christie. Among the frozen assets are $158 million from the New Jersey’s Clean Energy Fund. If these funds are not released back into operation, the CEF predicts lower solar rebate levels for 2010. This is a move that could hurt not just individual homeowners looking to go solar, but could damage overall economic growth within the state as renewable energy companies find themselves at a loss for business.

Solar leasing programs have recently opened up in the state. With zero or no money down, a solar lease can be an excellent solution for homeowners who want to get solar and move away from traditional energy sources, but who can’t finance the large up-front investment the technology still requires. Leases are made possible by predictable revenue streams from the solar installations in question, including rebate payments.

New Jersey solar installer Geoscape Solar is one of the solar leasing pioneers in the state, and the first to offer a no-money down leasing option. Today, Geoscape announced it would continue to offer this financing option to its customers, despite the higher cost that will present to the company if solar rebate levels do decrease. Co-founder and President Jeffrey Chavkin says,

We strongly believe in the value of and future of solar energy and will continue to make it easier for consumers to jump on board through these leases, even though the incentives that help us underwrite the leases may not be available.