New Jersey was the nation’s ninth-largest producer of electricity from solar energy in 2021 and ranked third in small-scale solar. Overall, solar power accounted for nearly 7% of in-state electricity generation.
New Jersey is among the top 10 states in solar power generation. It receives ample sunlight, and the state-funded incentives drive the adoption of solar even further. Even though New Jersey is one of the biggest producers of solar power in the United States, solar power only accounts for around 7% of total power generation in the state. This translates to a huge potential.
It’s no surprise that areas like Willingboro, NJ are seeing greater adoption of solar power that continues to grow. Here is why there is a surge in the demand for solar power systems in Willingboro, New Jersey.
- Affordable Installation Costs
With solar power attracting more funds and research, better, more efficient, and more affordable solar products are hitting the market every year. Moreover, with the demand for solar rising, top installers have more experience and know how to circumvent most challenges a house’s roof or terrain has to offer. As a result, the price of solar installation has decreased considerably. As a result, the operational and maintenance costs for solar power installations have also dramatically fallen.
However, homeowners should invest in a good NJ solar installer with a competitive quote rather than an amateur with a cheap quote to avoid installation issues and future problems.
- Federal & State-Backed Incentives
Investment Tax Credit (ITC) by the Federal Government allows solar system owners to claim a 30% tax credit on the cost of solar installation. Apart from this, New Jersey exempts homeowners from any sales tax or property tax on solar power installations.
New Jersey also offers solar homeowners SREC-II or Successor Solar Incentive Program (SuSI) credits. A homeowner earns 1 credit worth $85 for generating 1,000 kWh of solar power. SREC-II credits are sold separately from electricity. So, homeowners can earn an income from these credits over and above their net metering benefits.
- Long-Term Savings
Solar homeowners already pay subsidized installation rates and earn extra income from the SuSI program. Apart from these, these homeowners are also immune to rising utility prices, which means extra savings.
New Jersey homeowners can also create another source of savings with net metering. Net metering allows solar homeowners to pay only the net of the energy they use to their utility companies and get tremendous savings off their electric bills. Green Power Energy has been a local New Jersey solar company for years. With decades of experience, an expert team of installers, and incredible customer support, GPE is the go-to solar installer for Willingboro, NJ residents. Talk to an expert at GPE to know more about their offerings.
