Solar power in Jersey City, New Jersey

Solar for your home or business in Jersey city couldn't be a better investment with the current incentives in New Jersey. New Jersey is one of only a handful of states to have an excellent SREC market. New Jersey law states that utilities must source a certain percentage of their power from renewable sources and a percentage of that must come from solar PV. What creates a market for these SREC certificates is that if states fail to meet their targets then they are fined heavily. Currently SREC's in New Jersey trade for about $180-$240 per REC and each REC is equal to 1,000kWh of solar generation. A common 5kW system produces about 6,000 kWh annually in New Jersey resulting in 6 SREC's that are traded to the utility for $1,080-$1,440. That's $1,080-$1,440 every year!

Those lucky enough to be living in Jersey city also have net metering providing you the customer with 1 for 1 retail value for unused power exported to the grid. The reason for net metering being such a valuable incentive is that most people are out of the house during the middle of the day when their solar is producing the most power. Besides these two excellent incentives there is also the 30% federal solar tax credit covering 30% of the system cost. These incentives are considered by many state lawmakers as too generous and may end soon so there is a need to get into solar as soon as possible!

Even if you are not convinced about solar we recommend that at the very least you use the solar panel calculator to find out:

• How many solar panels you need to cover your power bill;
• How suitable your house is for solar;
• What incentives your house may be eligible for;
• The cost of solar panel installation in Jersey City and whether you are eligible for zero down solar deals; and
• Your likely payback period and return on investment from installing solar

Estimate your solar savings