New Jersey Solar Information

Pros and Cons of Buying Solar Panels in New Jersey

Pros:

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  Relatively short payback period

  The solar payback period is calculated by establishing the length of time it will take you to completely pay off the initial price of your solar power system. Currently, New Jersey has a phenomenal payback of only 6 years thanks to solid solar programs and incentives, lower solar equipment costs, and high utility rates.
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  After the payback period, solar power is nearly free

  In New Jersey, utility companies are not allowed to charge you a connection fee to plug your solar power system into the grid if it is smaller than 10kW. It means that once your solar energy system is paid off, the electricity it produces will be free for you to use.
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  Great savings on a monthly electric bill

  The financial benefits of going solar will be evident on your monthly electric bill from day one. You begin generating your own electricity once you install a solar energy system in your home. Solar adoption will help you be less dependent on your local utilities and their high utility rates, which are extremely affected by inflation.
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  Helping the environment since solar energy is clean, sustainable, and renewable

  Sunlight is plentiful anywhere on Earth and can be harvested without damaging the environment. Solar power is a clean, renewable and sustainable source of energy that can save you money on the electric bill every month. Using solar energy instead of coal and gas will reduce our carbon footprint by greatly decreasing air and water pollution.
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  Support from the government and the state

  New Jersey has ranked as one of the best states for solar adoption thanks to its excellent solar state programs and incentives. Moreover, The Federal Investment Tax Credit is still available and save you 30% on the entire solar purchase and installation. Individuals will see the initial cost of their solar equipment dropped by thousands of dollars as a result of this economic assistance.
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  Very low maintenance

  With solar panel usage, you do not have to worry about wear and tear since PV systems do not have any moving parts. Thanks to that, they are also completely silent when in operation. The only maintenance they need is the occasional cleaning to maintain them free from dust and dirt.
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  Excellent warranty protection

  Today, the majority of solar panels manufacturers offer two forms of warranties: performance guarantee and extended product guarantee. The performance warranty guarantees efficient energy production for at least 25 years. Extended warranties ensure that faulty equipment, breakage or any performance deficit that may occur will be repaired.
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  Increase in the property value

  Several recent studies by well-known real estate companies have shown that installing solar panels on your home's roof adds value to the property. Typically, the installation of a solar system will increase your home value by 4.1%. In addition, not only do homes with photovoltaic systems sell at greater rates, but they also sell quicker than homes without solar systems.

Cons:

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  The possible high initial cost

  The initial high cost of purchasing and installing a solar power system is a major concern for many people who are thinking about switching to solar. However, the initial cost of going solar can be significantly reduced thanks to great federal and state solar programs. In addition, there are rebates and incentives available that can increase solar savings even more. Most importantly, going solar will save you money from day one on your electric bill.
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  Must have a large, open area for installation

  Solar panel installation of a typical 5kW size requires an adequate open space of about 500 sq. feet. For solar power system optimal operation, this area has to be shade-free. Unfortunately, some homeowners do not have this much open space on their roof. However, the solar panels can also be installed on the ground if they have direct access to sunlight.
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  Must be a property owner to install

  Today, solar power systems can mostly be installed for homeowners with excellent credit and/or good income. For renters, low-income individuals, or individuals without a job, solar advantages are not yet available.

Is It Worth Going Solar in New Jersey?

New Jersey is a perfect state for going solar. Excellent state solar initiatives and solar programs make solar an easy decision when making a choice about your power source. It is not only the most affordable it has been in years but also a solid investment that will pay you for years to come. Going solar in New Jersey is a smart financial and environmental move.