New Jersey is well-positioned for continued growth in the solar sector. The state has a history with healthy solar markets, strong community solar programs and an emphasis upon electrifying the transport sector. The state ranks amongst the top ten states for solar power. The state recently passed a state-wide incentive program that will bring nearly 3.8 GW of new solar capacity to the state by 2026. But, interconnection and construction questions have slowed down the program's progress.
New Jersey: Solar energy
It's not unusual to be considering solar energy for New Jersey. You get more than financial benefits from going solar. It reduces your dependency on fossil fuels, reduces pollution, and reduces your carbon footprint. Going solar can also make it easier to be more independent with your energy use. This is good news for the environment and especially for those who care about the environment.
New Jersey: Solar panels cost
The price of New Jersey solar panels varies depending on which type you choose and how many kWh you use annually. Also, you should consider any state-sponsored solar incentives. Request a free estimate to determine the exact cost of solar panels.
New Jersey solar energy has tax benefits
New Jersey residents have tax advantages when they install solar energy. The credits you generate from this renewable energy source can be resold by your local utility company. New Jersey has a robust renewable portfolio standard (RPS) program that forces utilities to use more renewable energy. These resources include wind, solar, biomass, and geothermal energy. These credits can offset your electric bills, and give you extra income.
Renewable energy certificates (SRECs) in New Jersey
Renewable energy sources in New Jersey can include solar, wind and hydro. Fuel cells can also be powered by renewable fuels. A biomass facility that uses sustainable harvesting methods can also be eligible. The facility must have a maximum installed power of 3 megawatts.
New Jersey Community Solar Projects
New Jersey community solar projects can be a great way for you to save money on your energy bills and use clean energy. Community solar projects are remote-located and don't require homeowners to install them. Residents can instead subscribe to a subscription organization that will sell them electricity produced by the community solar project. Residents will enjoy a 15% to 20% discount on their energy bills.
State incentives for solar energy in New Jersey
Solar energy is a green and renewable energy source that can help you reduce your monthly power bill. New Jersey offers four types of incentives for installing solar cells on your home. The first is an investment tax credit, which allows you write off up 30% of the cost for the system. You also have the option to obtain a certificate of solar renewable energy, which allows you to receive a competitive rate even for larger solar system.