Best Solar Companies In Nj - When you start researching the cost of solar panels in New Jersey, it can get overwhelming very quickly. The cost of installing solar varies from company to company, and when you start throwing in incentives, rebates and tax credits, your simple Google search turns into a complicated, algebraic equation. Before you know it, you're knee-deep in solar policy on some government website, calculator in hand, ready to work yourself out without frustration.
Take a deep breath, and fear not our eco-conscious friend, we've done the work for you. The simple answer? The cost of solar installation in NJ is usually between $12k-$15k after rebates and tax credits. Want to know how we found it? Read on for all the ins and outs about solar panel costs in New Jersey and all the tips and tricks for getting the best deal.
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Many people want to generate enough power with their panels to meet their electricity needs while paying off their electricity bills. Therefore, it helps to start by determining your home's energy needs. The average American family consumes about 10,400 kWh (kilowatt hours) per year, so if we think that the consumer invests in the famous 250-watt panels, between 28 and 34 panels can be proposed. The amount of sunlight you receive will also affect this number. New Jersey gets about 56% of sunny days, about 2500 hours of sunshine annually.
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Solar panels - Two technologies currently dominate the market: monocrystalline and polycrystalline. Both work similarly, but monocrystalline has a higher efficiency rating. With high performance monocrystalline panels, they differ in appearance and cost.
Racking - Solar panels are not mounted directly on the roof of your house. Instead, they are installed in the hacking system, which is itself installed in your roof. A rack system positions your solar panels to receive the most energy from the sun while protecting your roof from damage. If you're in the market for a solar carport or ground mount solar instead, you can also find mounting systems that fit your needs.
Inverters - Solar energy is received in the form of DC current, and an inverter converts it to AC power, which most homes are wired to use.
System Performance Monitor - Shows how efficiently your system is working, reporting the hourly power your solar system is producing. Monitoring systems are also helpful in identifying when a problem is occurring with your system.
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Solar Battery - Solar energy storage systems allow homeowners to use solar energy generated in their homes when there is no sunlight, such as at night or on cloudy days.
Different solar installers offer a variety of quotes. Others charge more because they invest in higher quality products, or because they spend more money on advertising.
Be sure to take the time to research what installers are in your area. Try asking your neighbors who have installed solar and how much they enjoyed the job. It's a good idea to ask multiple installers for quotes and compare their reviews and materials!
As you compare prices, be sure to do a lot of research, collecting quotes from various service providers in your area. Because of the difference in fees an installer may charge, you will likely receive a wide range of quotes.
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Taking the time to research can save you a lot on your installation costs - thousands of dollars! Big name companies have a reputation because they are already established, so they can charge more and not worry about competition from small businesses. These already well-established names often charge more to cover their marketing costs and additional expenses.
Panels have a reputation for being great value. However, they make up about 34% of your total expenses. The biggest investment is actually in labor costs and overhead costs.
New Jersey offers a great selection of solar incentives for residents looking to invest in solar. The Solar Renewable Energy Credit (SREC) program rewards you for every 1000 kWh (kWh) of solar energy produced by your system, which is then sold to local companies.
The Federal Solar Investment Tax Credit (ITC) offers a substantial tax credit savings of 26 percent on the cost of your solar energy system. This savings will drop to 22% after 2022 and will be completely phased out by 2024. This is a good time to use ITC.
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New Jersey offers residents a complete tax exemption on the purchase of all solar energy equipment, including inverters and racks.
Finally, the Garden State offers property tax exemptions for resident renewable energy systems, including solar panels. One only needs to apply for a certificate from your local inspector to qualify for this exemption. This will ensure that your property taxes will not increase, while you also benefit from increased property values due to your clean energy system.
Buying your solar panels outright has its advantages - as an owner, you can benefit from increased home value and savings. Both solar loans and solar leases/PPAs offer $0 down, and monthly payments that may be less than your current utility bill. Another advantage of solar loans is that they can be repaid within 7 to 15 years. On the other hand, solar leases usually come with a term of 20-25 years.
With an investment as important as installing solar panels, it's important to look at the big picture. Think of it as a long-term investment, calculating the costs and savings you will experience over the next twenty years. Good things to remember are:
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The payback period is the amount of time it takes to make a financial return on your solar energy plant, either through profit or savings. 5 year average payback on solar panel systems in NJ!
So after five years, the savings on your electricity bills have paid for the solar panels. And going forward, the electricity produced by the solar panels is essentially free, except for the cost of connecting the company. Also remember that solar panels have a 20-30 year warranty, so many savings add up over time. Because electricity rates are high in NJ, a typical NJ solar panel system will save you over $75,000 over a 20-year period.
Electricity prices in New Jersey average 15.78¢/kWh, 7th highest in the nation. Considering the high cost of electricity for both households and business owners, investing in clean energy will be good for both the environment and your budget.
Some roofs are completely made for solar panel system installation, while others leave something to be desired. Other important factors are the appearance of the pitch of your roof, whether it has multiple levels or not, and if skylights or other items are already installed on your roof.
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The condition of your roof is also important. If the roof is old, it may need to be replaced as solar panels can last decades on them. But remember that roof repairs can be included in a solar project and may be eligible for financial incentives and rebates.
The cost of your solar energy system varies depending on the size of your home, how many watts you install, and what state you live in. For example, the most important region for the installation of solar panels is Cape May. A 5kW system averages $18,985 before the tax credit, and $13,289 after those savings are applied. Solar power is most affordable in Ocean County, where the same system would cost $12,622. The tax credit would reduce this to an average cost of $8,836.
Solar power systems require little maintenance throughout the year. Cleaning and inspection are the biggest expenses of the year. Cleaning will keep your system running smoothly, and the tester can alert you if there are problems with your system.
For annual professional cleaning, companies charge between $3 and $10 per panel, or a minimum of $100. Some people clean their systems themselves, but it's a good idea to talk to your installer before making such a decision!
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Annual inspections are up to $150 per year. During this inspection, the contractor looks for cracks or problems in the system. If solar panel repair is needed, the average cost is $650.
Installation companies provide warranties to protect you, including performance, workmanship and equipment. In inclement weather, homeowner's insurance should cover some of those costs. Also, contact an expert in that field for more information.
Property values are increasing for solar homes, especially if those panels are purchased (not rented), and homes are available on the solar market. Countries are considered to have an active solar market if they have good amounts of sunlight, high installation rates, and local government offers incentives to save money on solar system installation costs. Good news for residents—New Jersey is such a place! NJ residents not only benefit from savings on their electric bills; They can look forward to an increase in their solar capital through building value. More studies need to be published for a complete understanding,
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