ORION SMART POWER
New Jersey is in a unique position, as SEIA currently places it as the seventh-highest solar state in America. Some of this attractiveness for solar power is due to 206 days of annual sunshine, along with favorable clean energy laws. Despite this, Google's Project Sunroof reveals that it has only made use of a fraction of its potential in solar power generation. By increasing 78% the usage of existing buildings to install panels, an estimated 34.1 million MWh AC could be produced every year. To further encourage renewable sources, New Jersey has also set a goal to reach 50% renewable energy by 2030 via their Renewable Portfolio Standard target.
4 Reasons Why It’s Worth Going Solar in New Jersey
Add battery storage to your solar system so you can rely on clean energy and disconnect from the grid during outages.
COUNT ON SAVINGS
Reduce your carbon footprint while harnessing the power of the sun. Solar panels take advantage of this by providing consistent, reliable power.
LOWER YOUR FOOTPRINT
Solar power has many advantages over fossil fuels as a renewable energy source. It is a more viable option for your home, community, and the environment.
INCREASE HOME VALUE
Due to the increasing popularity of solar-powered homes, they stand out, resulting in immense profits as they sell faster and at a higher value in the national real estate market.
Available Solar Incentives New Jersey
Incentives help lower the cost of your solar energy system. Those available in New Jersey include:
Solar Tax Credit: Most solar energy installations are eligible for the Residential Clean Energy Credit, previously called the Solar Investment Tax Credit (ITC). Eligible homeowners can deduct up to 30% of their solar power system’s costs from their total tax liability for the year of installation.
Solar Renewable Energy Certificates (SRECs): A typical 8 kW solar panel system, will produce 9-10 SRECs per year in New Jersey, which will earn about $11,000-$12,500 over 15 years. If you choose Palmetto as your solar installer, we can help you sign up with SRECTrade, our partner and national brokerage firm, to sell your SRECs. SRECTrade will make payments to you as each SREC (1,000 kWh) is produced.
State Property Tax Exemption: Solar has been shown to increase the value of your home. New Jersey exempts this addition from your property taxes, meaning you don’t pay extra taxes because you got solar panels.
Sales Tax Exemption: Solar is exempt from New Jersey’s sales tax.
Switching to solar is easy with ORION
Orion Smart Power is one of the country’s fastest-growing companies. We actively install in twenty states. Not in one of these states?
Please contact us to see if we’re in your area.