Solar Power Home

If are keeping up with the news, then you have seen that Jersey has the most rapidly accelerating solar electric movement in America. This is due to the incredible tax rebates and other incentives that are being offered to homeowners who get solar power. At the moment, New Jersey is the second in residential solar installations nationwide.

#1: A Wonderful Solar Power Buying Chance

Because of New Jersey’s REMI, or Renewable Energy Manufacturing Initiative, utility customers will pay more than $500 million to fund New Jersey’s solar initiative. The short-term goal: to increase our capacity for solar energy double over the next 3 years. The long-term goal: to distribute 20% of our 9 million residents’ energy via renewable energy.

The US government is also giving tax breaks to homeowners that could amount to a 30 percent reduction on the cost of the solar system installation.

The result is that many solar power systems pay for themselves only three years after it has been installed. It makes sense that nearly 6,000 residences have already gone to solar energy on their properties. They are receiving discounts of half the price on a $75,000 installation.

#2: Selling Solar Energy Back to the Grid You can earn money with your solar energy system by allowing you to sell the power you don’t use back to the electric companies. This is more lucrative in New Jersey, since prices for electricity are relatively high here. Our price per kilowatt is $.19 versus the national average, which is only $.11.

Moreover, since residences will get tax incentives from the New Jersey and the federal government: $.25 per watt of energy production up to 500 kW.

#3: Pricing for solar manufactures has dropped rapidly in China The production of solar panels has grown nearly 100 times during the last 20 years in China. This has resulted in favorable pricing in America for solar panels. Buyers can now ask for deep discounts on solar panels, which they pass on to New Jersey residents.

This all means that, some New Jersey homeowners are able to install solar panel systems on their homes at a 10th of the cost it would have been just five years ago.

I tell my clients to seriously think about going to a solar power energy solution for their home while they can still enjoy the conditions I just mentioned. Getting an electrician who can help you reducing your power use is a great way to cut your monthly bills, and it’s environmentally correct too.

Ed Vedder is a 30-year veteran NJ electrician and owner of Vetter Electric Company, NJ electrical contractors that have been serving Mercer, Middlesex, and Monmouth counties since 195. To learn more about New Jersey solar energy, visit his blog.