Many Georgians go solar everyday, partially because they like the freedom it gives, and partially because of the potential savings. Of course many homeowners are also trying to do something for the environment. The state actually has 312,450 homes on solar power as of 2020*, and the number keeps growing!
New Jersey requires investor-owner utilities and energy suppliers to offer net metering to qualified customers. Separate from net metering, New Jersey’s Transition Renewable Energy Credits (TREC) are vouchers that solar producers can earn, which can then be sold to utilities (who use the credits to meet their legal renewable energy requirements). New Jersey residents can also qualify for a sales tax exemption, and pay zero sales tax for their solar equipment, accessories, and installation. And there’s a similar property tax exemption which means you don’t pay additional property taxes based on the value solar adds to your home.
New Jersey homeowners are also eligible for the Solar Investment Tax Credit (ITC).**** The ITC allows you to deduct 26 percent of the cost of installing a solar energy system from your federal taxes.
New Jersey has above average residential energy rates. This makes the potential for savings huge when you install a solar system. Solar helps reduce the amount of power you need from the grid. This means you purchase less from your utility. If you have batteries, you can use the excess energy stored in the batteries in lieu of the grid energy.
Scheduled outages are normal and necessary, but they are inconvenient. Unforeseen weather may also cause outages and leave you without power. Installing batteries with your system allows you to store excess energy produced by the system, which can help power your home during outages. Talk to your dealer about what batteries best fit your lifestyle needs.
The state is known for gorgeous scenery and adventurous outdoors. Help preserve its natural charm by acting sustainably. Solar systems help cut down on water over-consumption and pollution. They reduce hazardous gas emissions and preserve the environment. A solar system decreases your dependency on fossil fuels.
Many homeowners go solar to have more consistent energy bills. With varying rates of energy usage, budgeting can be really impossible. If you offset** the energy you use, you may only have a minimum bill. You can plan on a much lower bill and then make consistent solar payments on your system.
The average New Jersey home is currently valued at approximately $376,866, that’s a 10.6% annual increase from the previous year. Keep up with the rising home values in New Jersey by installing solar. Installing a solar system can also make your home more attractive to potential buyers.*** Reinvest into your home instead of giving your money to your utility company.
