New Jersey goes solar with SunPower®
Garden Staters are winning with home solar
The state of solar in New Jersey
The Solar Energy Industries Association (SEIA) currently ranks New Jersey as the seventh-highest solar state in the nation.*SEIA: New Jersey Solar: https://www.seia.org/state-solar-policy/new-jersey-solar (August 2021) The Garden State's attractiveness for solar power is due to its many favorable clean energy laws and the 206 days of sunshine it experiences each year.*BestPlaces: Climate in New Jersey: https://www.bestplaces.net/climate/state/new_jersey (August 2021)
According to Google's Project Sunroof, New Jersey has only achieved a fraction of its solar potential. If 78% of the state's existing buildings installed solar panels, New Jersey's yearly solar output could reach 34.1 million MWh AC.*Google, Project Sunroof data explorer: https://sunroof.withgoogle.com/data-explorer/place/ChIJn0AAnpX7wIkRjW0_-Ad70iw/ (November 2018)
How much solar energy does New Jersey produce?
New Jersey currently has over 137,000 active solar systems. In the first quarter of 2021, these solar arrays produced 3,653.1 MW, or enough to power 586,709 homes. The Solar Energy Industries Association (SEIA) expects the state's solar power production to rise by 1,834 MW over the next five years.*SEIA: New Jersey Solar: https://www.seia.org/state-solar-policy/new-jersey-solar (August 2021)
What are the advantages of going solar in New Jersey?
Switching to solar power in New Jersey will benefit you and the environment. You will benefit because solar electricity costs far less than power from the grid. If you go solar today, it will offset your regular electricity bills by 83% to 112%, meaning that you could be paying almost zero for electricity each month.
The money you save on your monthly electricity bills could amount to $43,385 at $58,698 over the next 20 years. At that rate, your solar system will pay for itself within four to six years.*EnergySage: New Jersey solar panels: local pricing and data: https://www.energysage.com/solar-panels/nj/ (August 2021) Lastly, installing solar panels for home use can increase your property's value by 4% or more.*Money: Here's How Much Adding Solar Panels Will Boost Your Home's Value: https://money.com/home-value-solar-panels (April 2019)
How much does solar cost in New Jersey?
The cost of a home solar system can vary due to a range of factors, even in the same state. These include:
Solar panel quality
Permit and installation costs
Roof size and angle
Property's electricity needs
To help you understand the price of going solar in your area, we've analyzed SunPower price quotes as well as quotes gathered by third-party sources for thousands of homeowners across the country. In New Jersey, we found that the average cost of owning a 5 kW solar system ranges from $13,900 to $15,550, or in other words, from $2.78 to $3.11 per watt, and that's before considering the benefits of any available tax credits or incentives.
Lower the cost of going solar by taking advantage of these incentives:
The federal solar tax credit: Homeowners who purchase their system as opposed to leasing it, can get a tax credit of up to 30% of the total cost of the solar installation.*Tax credits and incentives are subject to change. Visit dsireusa.org for detailed solar policy information.
New Jersey Net Metering: The top net metering providers in New Jersey are Jersey Central Power & Light and PSE&G. Under the net metering program, your local utility provider will credit you for the excess power that your solar system generates and sends to the grid.*The availability of net metering varies by location and is subject to change. Visit dsireusa.org for detailed solar policy information.
Solar Renewable Energy Credits (SRECs): If you qualify for the program, you will receive compensation for every kWh that your solar system produces.*DSIRE: Solar Renewable Energy Certificates (SRECs) Registration Program: https://programs.dsireusa.org/system/program/detail/5687 (August 2021)
Solar Investment Property Tax Exemption: Solar panel owners do not have to pay property tax on the value added to their property by a solar installation.
What's the best way to go solar in New Jersey?
If you want a solar system that can satisfy all your power needs and serve you without issues for years, be sure to work with an experienced and licensed solar installer. After assessing your property, a professional solar provider can recommend the best solar system to buy and where to install it for optimal performance.
You can also count on an experienced solar expert to provide you with a system that elevates your property's appearance and value. Lastly, a New Jersey solar contractor can help you access every available solar incentive and rebate to reduce the cost of going solar.
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