New Jersey Homeowners are Adopting Solar at Zero Cost. Here's How:
Warning: Do not pay your next utility bill until you read this…
Purchasing and installing solar panels can cost the average New Jersey homeowner up to $39,000 or more, making it too expensive for many families to go solar. Now there is a state funded initiative for homeowners to take advantage of rebates and incentives with no upfront costs.
Not only were solar panels invented in New Jersey, but the state has also become one of the leading states for solar adoption. Funded by the federal government and the state, New Jersey offers strong financial incentives including the 30% federal tax credit, the issuance of Solar Renewable Energy Credit Program (SRECs), state tax credits, state rebate programs, grants and accommodating loan programs offered through public utilities.
New Jersey has a strong growing presence of private companies and eco-friendly individuals that want to install solar on low to middle-class income homes. New Jersey’s No-Cost Solar Program is available for homeowners that qualify. New Jersey homeowners and business owners are some of the most dedicated advocates toward solar initiatives in the country. The state captures environmentally responsible private companies that wish to contribute to lowering the overall carbon footprint.
The new program enables New Jersey homeowners to install solar at record levels. Homeowners receive the solar panels and complete system connection, full professional installation, a “worry-free” system maintenance contract, free insurance for the panels, system monitoring and a reduced electric bill with no out-of-pocket expense. Some homeowners are able to save up to 50% each month. According to initial reports, this new solar incentive program is saving homeowners more than $1,750 per year. This is a real stimulus that New Jersey homeowners have been waiting for, so why wait?
The state of New Jersey also oversees and manages the Solar Renewable Energy Credit Program (SREC). New Jersey solar customers that purchase systems are taking advantage of these profitable energy credits that are earned when their home solar systems are generating power. For every 1000 kilowatts of power that a home generates, one SREC credit is earned. Most recently, SREC credit worth has been documented around $250. The average New Jersey homeowner will generate around 8,000 to 12,000 kilowatts per year, allowing a generous cash out for an additional $2000 or more per year for doing nothing but installing solar panels.
A survey for this program was conducted with a goal to install solar panels on 50,000 New Jersey homes by February of 2017. As of November 24, 2017, they have already filled more than 78% of this quota and it could run out as early as early January. If you’re interested in taking advantage of this No Cost Solar Program, you need to act now before the incentives are gone.
With more than $2.87 billion raised and 91 megawatts installed in 2016 alone, the program is a much desired stimulus for homeowners.
If you currently own a home in New Jersey, we encourage you to apply for this program. You just need to answer a few short questions to determine if you’re eligible for solar. There is no obligation, it's mobile friendly, and it takes less than 30 seconds to complete.