Home solar panels have always been popular in the state of New Jersey, but demand for solar solutions has exploded in recent years. Solar panels on the Jersey coast are particularly popular as most homeowners use their beach houses during the summer months when the sun shines most. As more homeowners turn to solar solutions for their homes to save money, the solar community in New York City has continued to grow at a rapid pace.
While the state's aggressive Clean Energy Program dates back to 2001, solar energy in New Jersey has only now taken hold, owing to a number of factors. In 2004, New Jersey passed a program to encourage the use of solar energy to meet the energy needs of its residents and businesses. This law was sufficient to trigger the creation of the Community's pilot solar energy programme, which enabled the installation of more than 1,000 solar panels in the urban areas.
PowerMarket is excited to bring this project to life and help New Jersey achieve its clean energy goals. NJNG is proud to support New Jersey's efforts to generate 20 percent of the state's electricity from renewable sources by 2020. That is why we urge Governor Chris Christie to commit to putting New York on the path to a clean, reliable, and sustainable energy future for its residents and businesses.
Join us for an online webinar where our team of solar companies will talk about solar energy systems for private households from an investment perspective and answer questions about the advantages and disadvantages of private and commercial solar systems. You can also learn more about the CleanPower Choice Program in New Jersey, which allows you to support renewable energy by installing appliances in your home or business.
Homeowners in New Jersey are also eligible for the Solar Investment Tax Credit (ITC), which can significantly reduce the cost of solar power in New Jersey and other states. The state's solar tax credit used to be available only to homeowners with solar panels costing more than $20,000. Instead, it is now offered to New York solar owners, amounting to 10% of the value of every megawatt hour (MWh) of solar energy produced over 15 years.
This means that SRECs play an important role in the return on investment for New Jersey solar installations. Just like solar customers nationwide, Garden State residents who install solar panels on rooftops are eligible for the Solar Investment Tax Credit (ITC) and the New York State Renewable Energy Tax Credit (NYSERTC). These are just a few of the financial benefits that solar panels make desirable there, but they are only a small part of a much larger package of benefits.
This is a tremendous boon for solar owners in New Jersey and a strong policy that we would like to see in more states across the country.
Solar power is inexpensive in itself, but the SREC program in New Jersey makes PV plants much more lucrative. Solar loans are a great source of finance for those who want to own solar panels out of their own pocket for just $99. There are many other options available to solar owners in the state, such as solar loans. Contact with a solar company inNew Jersey to get a free quote and figure out how much you could save on solar energy.
If you want to participate in a solar project run by the New Jersey community, visit PowerMarket's online marketplace to learn more. There are many opportunities for residents in New York and Pennsylvania who want to use solar energy. For each New Jersey city, select a list of the most popular solar projects in your city below, as well as the cost per kilowatt-hour.
Based on data from the Energy Information Administration (EIA) of the US Department of Energy, solar energy is a net positive for New Jersey compared to other states. Indeed, solar energy has been a "net positive" for the state for more than a decade, with an average net benefit of $1.5 billion per year, according to the latest data from the National Renewable Energy Laboratory (NREL). New York and Pennsylvania not only have the highest penetration of solar energy in the country, but they also source nearly 5 percent of solar energy, also among the highest penetrations in the country. And it has had a positive impact on its economy and the health of its citizens.
We have successfully installed a solar system on a beach house on the South Jersey coast, and our commitment to helping people with solar power is embedded to make New Jersey one of the best places in the country for solar energy. Installing solar panels on beach houses along the Jersey coast can be a great way to save money on energy costs and help combat global climate change. Solar panels, like the ones we installed at our beachfront home in South NJ, have helped many families save on their summer vacation home electricity bills.