New Jersey currently has an excellent financial environment for going solar. To make installing solar power more attractive, the federal government is providing a 30% tax credit in New Jersey for solar energy installation costs to homeowners. In addition, the New Jersey state legislature is doing its part by offering additional incentives known as SRECs (see SRECs below). With our experience and expertise, GeoPeak can help these benefits make solar power for your home more affordable--but the incentives will not last forever. Call GeoPeak Energy now toll free at (888) 526-4478 to get in on these incredible, limited time discounts while they are still available with no obligations.
The federal government provides a Tax Credit for 30% of the system cost for homeowners. This tax credit can be used starting immediately and rolled over until 2016.
For every 1,000 kWh that your solar system generates, you earn 1 Solar Renewable Energy Certificate (SREC), regardless of whether the power is used by your home or sent back to the utility grid. An average home with a solar system produces 10 RECs per year. These RECS are traded on an open market and can generate thousands of dollars of additional income.
In New Jersey, Renewable Energy Systems are exempt from property tax.
In New Jersey, Renewable Energy Systems are exempt from sales tax.
New Jersey solar energy rebates aren't the only way solar power adds to your pockets. Solar Renewable Energy Certificate (SREC) programs provide New Jersey homeowners with solar energy an annual income. This income can be thousands of dollars in your pocket per year. These solar incentives alone have resulted in a huge spike of interest in New Jersey solar energy with current residents. This year, the NJ state government will issue thousands of solar installation approvals--compared to just 809 in 2008.
Having solar power will reduce your energy bill to as little as $0. Moreover, thanks to New Jersey's use of net metering, any excess energy you produce will ensure you receive credits against energy usage in the future.
The value of your home will increase once you install a solar power system by $20,000 for every $1,000 in energy reduction costs per year. Moreover, thanks to favorable federal laws, this home value increase will not increase your property taxes. For example, if your current electric bill is $5,000 per year and your system provides 100% of your energy needs, the value of your home after the solar installation will be $100,000 more than before installation.