Benefits of Going Solar in New Jersey:
Reduced Electricity Bills: Going solar can help reduce or eliminate your electricity bills, as solar panels generate electricity from the sun for free.
Increased Home Value: Installing solar panels can increase the value of your home, as more homebuyers are looking for homes with renewable energy systems.
Environmental Benefits: Solar energy is clean and renewable, which means it helps reduce greenhouse gas emissions and dependence on fossil fuels.
Net Metering Policies in New Jersey:
Net Metering: New Jersey has a strong net metering policy that allows homeowners to receive credit for excess energy generated by their solar panels. The excess energy is credited at the retail rate and can be used to offset future electricity bills.
Solar Renewable Energy Credits (SRECs): In addition to net metering, New Jersey also has a SREC program that allows homeowners to earn credits for every 1,000 kWh of solar energy they produce. These credits can then be sold to utility companies to help them meet their renewable energy goals.
Rebates and Incentives in New Jersey:
Federal Tax Credit: Homeowners in New Jersey are eligible for the federal solar tax credit, which provides a 30% tax credit on the cost of solar panel installation.
New Jersey Clean Energy Program: The New Jersey Clean Energy Program provides incentives for solar panel installation through rebates and performance-based incentives.
Property Tax Exemption: In New Jersey, solar panel systems are exempt from property taxes, which can help reduce the overall cost of installation and ownership.
Sales Tax Exemption: Solar panel systems are also exempt from sales tax in New Jersey, which can further reduce the cost of installation.