By Jeff Deutsch
If are keeping up with the news, then you have seen that NJ has the fastest growing solar energy movement in America. This is because the amazing tax rebates and other incentives that are being extended to New Jerseyans who install solar power. As of publishing, New Jersey is just behind the nation’s leader, California in house solar installations nationwide.
#1: Now is the Ideal Time to Buy
As a result of the state’s REMI, or Renewable Energy Manufacturing Initiative, utility customers are contributing half a billion dollars to fund New Jersey’s solar initiative. The short-term goal: to grow our capacity for solar power double by 2013. The long-term goal: to produce 20% of our 9 million residents’ energy via renewable power.
The federal government is also giving tax breaks to homeowners for up to 30% off the cost of the solar system installation.
As a result, a couple years is long enough for many New Jerseyans to find that their solar panel installation has already paid for the expense of installing it. For the thousands of homeowners here that have made the switch over, the decision was often not difficult. They’re saving tens of thousands of dollars on their solar panel system installation.
#2: Selling Solar Energy Back to the Grid Solar power pays off over the long run by allowing you to sell your excess energy back to the grid. This is more lucrative in New Jersey than almost any other state. Our price per kilowatt is $.19 versus the national average, which is only $.11.
Furthermore, with the incentives for panels that homeowners get from the New Jersey and the federal government: $.25 per watt of energy production up to 500 kW.
#3: Pricing for solar manufactures has dropped rapidly in China The production of solar panels has grown nearly 100 times during the past two decades in China. This has resulted in a buyer’s market in the US for solar panels. Buyers can now ask for deep discounts on solar panels, which they pass on to New Jersey residents.
All of this has resulted in, some New Jersey homeowners are able to install solar panel systems on their homes at a 10th of the cost it would have been just five years ago.
I tell my clients to consider moving to solar power while these incentives last. Electricians like me know that reducing your energy consumption is a great way to cut your monthly bills, and it’s good for the environment too.
Ed Vedder is a licensed NJ electrician and owner of Vetter Electric Company, NJ electrical contractors that have been serving Mercer, Middlesex, and Monmouth counties since 195. To learn more about solar power in the state of New Jersey, visit his blog.
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MLA Style Citation:
Deutsch, Jeff "New Jersey’s Solar Energy Race: 3 Facts Pushing The Incredible Speed." New Jersey’s Solar Energy Race: 3 Facts Pushing The Incredible Speed. 2 Jul. 2010. uberarticles.com. 19 Aug 2015 <http://uberarticles.com/environment/new-jerseys-solar-energy-race-3-facts-pushing-the-incredible-speed/>.
APA Style Citation:
Deutsch, J (2010, July 2). New Jersey’s Solar Energy Race: 3 Facts Pushing The Incredible Speed. Retrieved August 19, 2015, from http://uberarticles.com/environment/new-jerseys-solar-energy-race-3-facts-pushing-the-incredible-speed/
Chicago Style Citation:
Deutsch, Jeff "New Jersey’s Solar Energy Race: 3 Facts Pushing The Incredible Speed" uberarticles.com. http://uberarticles.com/environment/new-jerseys-solar-energy-race-3-facts-pushing-the-incredible-speed/
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