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What To Know About Going Solar
Most homeowners in new jersey don’t realize that getting a new roof with solar is standard procedure. Utilizing benefits from the 30% Federal ITC & State SREC2 program, homeowners can have their roof replaced for FREE!
How Does This Work?
Right now your home is consuming electricity which for the average homeowner costs $147.32 a month. Thats nearly $1,800 a year! When you go solar you’re only paying a fraction of that because you are now producing your OWN power for much less than the electric company charges
How Does This Actually Stop My Electric Bill?
The state & federal green energy mandate requires solar producing homes to have what is called Net Energy Metering (NEM). This system utilizes a bi-directional DIGITAL solar meter that allows homeowners to send electricity back to the grid which is “banked” to be used during evening hours.
4 Ways Solar Pays for Itself
1. NEM- You’re stopping the delivery & supply charges on your bill by producing your own electricity with the panels. The digital meter “banks” energy for cloudy days or night time usage.
2. NJ State SREC2 Credits- These credits pay at $91/credit for 15 years. A renewable energy credit is equal to 1,000 watts of solar production. The average home produces 7,000 kilowatts/year = $9,555 for the life of the program
3. Federal Investment Tax Credit: This is a credit of 30% on the total system cost toward your federal income tax. This credit can even be rolled over in to subsequent years if you don’t meet the full credit in the first year.
4. Shielding yourself from high electric rates: the average increase for electricity is expected to rise above 3.26% this year as inflation drives gas & coal production to all time highs. Producing your own power is the best way to prevent future increases on your electricity budget.
BONUS: The environment. Honestly, this should be #1 but it’s just not catchy enough for Americans yet. We’re a country that could lead the way to a better future, but many people have a negative view towards green energy. The most common objection is that the panels do more harm to the environment than good. Unfortunately these critics fail to research the true statistics behind green energy & compare them accurately side by side to fossil fuel & nuclear options. Every energy option may have pros & cons, but solar certainly shows that there is far more pros.