Does Solar Make Sense in New Jersey?
New Jersey is a national leader in residential solar power installations, so the secret here is already out that solar can 1) reduce energy bills, 2) earn tax credits, and 3) make a positive impact on the environment. It’s already proven that solar makes sense in New Jersey, here’s a closer look at how you can enjoy the benefits of making the switch to renewable energy.
New Jersey Solar Power Pricing Benefits and Incentives
For most homeowners, the bottom line is money: can switching to solar power in New Jersey make financial sense? The answer is “Yes!” and that’s a primary reason why changing over is so popular in the state:
· New Jersey net metering allows homeowners to sell excess electricity they generate back to the power grid, and at a higher rate than large power plants receive.
· Transition Renewable Energy Certificates (TRECs) are vouchers that solar producers earn. They can be sold to utilities, which use them to meet their renewable energy requirements.
· Sales tax exemption means you can pay zero sales tax for your solar equipment, accessories, and installation.
· Property tax exemption means you can pay zero additional property tax based on the value that solar panels can add to your home.
· Federal solar tax credit (or Investment Tax Credit) allows a deduction from your federal taxes of 26% of the cost of your solar installation.*
*You should consult with a qualified tax expert. Neither Freedom Forever’s family of independent authorized dealers nor Freedom Forever itself can give you tax advice. A qualified tax professional will understand your situation and be able to give you the most relevant advice.
New incentives programs for residential solar energy projects have been a priority for New Jersey lawmakers, so expect to see more programs and opportunities to save in the coming years. Your solar power dealer can help you understand which programs you might be eligible for and their potential benefits.
New Jersey’s solar suitability
The local climate is not a barrier to efficient and affordable solar power production. In fact, in 2021 nearly one-quarter of the state’s total electricity production is expected to be from renewable sources, with solar leading the way.
New Jersey is in the top-ten in the United States for solar power installations, as homeowners, in particular, are incentivized to make the switch by the state’s generous net metering standards. Many new homes today are built with solar panels standard, to take advantage of the overall cost savings for owners.
Environmental and Sustainability Benefits of Solar Power
Limitless, clean energy from the sun has a variety of benefits that are attracting New Jersey homeowners to change over from standard fossil fuel energy sources. Solar power for your New Jersey home:
· Helps reduce greenhouse gas (GHG) emissions
· Shrinks your carbon footprint
· Decreases costly dependence on fossil fuels
· Reduces emissions and improves health in the community
The shift to solar power in New Jersey is preventing the release of thousands of tons of CO2 into the local environment every day. Solar is a wonderful way to be part of a sustainability solution that is helping protect our environment and preserve it for future generations.
Learn More About Your Solar Power Options
Thousands of homeowners have already discovered that solar makes sense in New Jersey. Contact Freedom Forever today; we are excited to start a conversation about your options and the specific benefits in energy cost savings that solar can deliver. If you want to begin right away with a FREE quote for service, we can do that also.
Freedom Forever is your solar partner, we look forward to bringing you solutions that can reduce your energy bills, earn valuable tax credits, and help preserve the environment for future generations.