NEW JERSEY
Solar in New Jersey
The Solar Energy Industries Association (SEIA) currently ranks New Jersey as the seventh-highest solar state in the nation.* The Garden State’s attractiveness for solar power is due to its many favorable clean energy laws and the 206 days of sunshine it experiences each year.*
According to Google’s Project Sunroof, New Jersey has only achieved a fraction of its solar potential. If 78% of the state’s existing buildings installed solar panels, New Jersey’s yearly solar output could reach 34.1 million MWh AC.*
Solar potential in New Jersey?
New Jersey has a great potential for solar energy. The state receives an average of 4.5 hours of sunlight per day, which is above the national average of 3.8 hours of sunlight per day. This means that New Jersey has a good potential for solar energy generation.
New Jersey currently has over 137,000 active solar systems. In the first quarter of 2021, these solar arrays produced 3,653.1 MW – enough to power 586,709 homes. The Solar Energy Industries Association (SEIA) expects the state’s solar power production to rise by 1,834 MW over the next five years.*
Cost of solar in New Jersey?
The cost of a home solar system can vary due to a range of factors, even in the same state. These include:
Solar panel quality
Permit and installation costs
Roof size and angle
Property’s electricity needs
To help you understand the price of going solar in your area, we’ve analyzed SunPower price quotes as well as quotes gathered by third-party sources for thousands of homeowners across the country. In New Jersey, we found that the average cost of owning a 5 kW solar system ranges from $13,900 to $15,550, or in other words, from $2.78 to $3.11 per watt—and that’s before considering the benefits of any available tax credits or incentives.
Advantages?
Reduced electricity bills: Solar panels can generate electricity for your home, which can help you reduce your electricity bills. The amount of savings you can expect will vary depending on the size of your solar system, the amount of sunlight your home receives, and your current electricity rates.
Increased home value: Solar panels can increase the value of your home. A study by the National Bureau of Economic Research found that homes with solar panels sell for an average of $15,000 more than homes without solar panels.
Environmental benefits: Solar panels are a clean and renewable source of energy. They do not produce any emissions, which can help to reduce air pollution and greenhouse gas emissions. Solar panels can also help to make New Jersey a more sustainable state.
State incentives: New Jersey offers a number of incentives for homeowners who install solar panels. These incentives can include tax credits, rebates, and grants.
Switching to solar power in New Jersey will benefit you and the environment. You will benefit because solar electricity costs far less than power from the grid. If you go solar today, it will offset your regular electricity bills by 83% to 112%, meaning that you could be paying almost zero for electricity each month.
The money you save on your monthly electricity bills could amount to $43,385 at $58,698 over the next 20 years. At that rate, your solar system will pay for itself within four to six years.* Lastly, installing solar panels for home use can increase your property’s value by 4% or more.
Disadvantages?
Shade: Solar panels need direct sunlight to generate electricity. If your home is in a shady area, or things are covering your panels you may not be able to generate as much electricity with solar panels.
Weather: Some Solar panels can be damaged by hail, snow, and strong winds. However, our solar panels are designed to withstand these conditions and even extreme weather conditions like hurricanes, tornado, and blizzards.
Panels aesthetic: Our solar panels are different. They are all black, sleek, and thin. They have a more modern look. Some people find solar panels on homes unattractive and if your feel like that we also offer Ground mount installations. It’s a great option if you have open land that receives good sunlight.
New Jersey state policies?
These policies include:
Net metering: New Jersey has a net metering policy that allows homeowners to sell excess solar power back to the grid at the retail rate. This means that for every kilowatt-hour (kWh) of solar power that you generate and send back to the grid, you will receive a credit on your electricity bill.
Property tax exemption: New Jersey exempts homeowners from paying property taxes on the increased value of their home that is due to solar panels. This means that if you install solar panels and your home value increases by $10,000, you will not have to pay property taxes on that $10,000.
Solar Renewable Energy Certificates (SRECs): New Jersey offers Solar Renewable Energy Certificates (SRECs) to homeowners who generate solar power. SRECs are tradable certificates that represent 1 megawatt-hour (MWh) of solar generation. Utilities are required to purchase SRECs from solar generators in order to meet their renewable energy goals. The price of SRECs varies depending on the market, but they can provide an additional source of income for homeowners who generate solar power.
Solar Renewable Portfolio Standard (RPS): New Jersey has a solar RPS that requires utilities to generate a certain percentage of their electricity from solar power. The RPS is currently set at 5.1%, and it is scheduled to increase to 10% by 2030. This policy is expected to help drive demand for solar panels in New Jersey.
New Jersey Energy Efficiency and Renewable Energy Act: The New Jersey Energy Efficiency and Renewable Energy Act was passed in 2017. This law sets a number of goals for energy efficiency and renewable energy in New Jersey, including:
Increasing energy efficiency by 20% by 2030
Generating 50% of electricity from renewable sources by 2030
Providing financial assistance to low-income households to make their homes more energy efficient
Maintaining solar panels?
Solar panels are relatively low-maintenance. However, you should have them cleaned every few years to remove dirt, dust, and debris. You can clean your solar panels yourself, or you can hire a professional to do it for you.
What's the best way to go solar?
Are you interested in going solar in New Jersey? If so, we can help!
Before going solar, be sure to keep in mind factors that will affect the output of clean energy to your home. For instance, South-facing roofs generate the most energy, followed by west-facing roofs. North-facing roofs generate the least amount of energy. We look into multiple aspects to make sure you have the most effective setup such as roof orientation, roof pitch, shade, and weather.
We offer a free virtual consultation and savings report to help you determine if solar is right for you. We will also help you access solar incentives and rebates to reduce the cost of installation.
Freedom Forever solar panels system is Top-Tier and backed by a 25-year full system production guarantee. We also offer a satisfaction guarantee, so you can be sure that you are making the right decision and test it out stress free.
If you are interested in learning more about solar power in New Jersey, please contact us today for a free virtual consultation.
We look forward to helping you make the switch to solar!