Green Power Energy has been in operation since 2009, and in that time has installed solar for thousands in New Jersey.
Green Power Energy’s corporate headquarters is in Annandale, NJ which is powered by our own solar array!
New Jersey has great yearly sunlight for solar, high energy costs, and with some of the best incentives in the country, it’s a no-brainer to explore solar in New Jersey. Most Green Power Energy customers don’t even pay out of pocket for their solar installation in New Jersey, that’s $0 down with all the benefits.
Available Purchase Offerings in New Jersey:
Cash Purchase, $0 Down Solar Loan, $0 Down Solar Lease.
Available Products in New Jersey:
Home Battery Installation, EV Charging Installation, Solar PV Installation
New Jersey Solar Incentives
SREC-II
SREC stands for Solar Renewable Energy Certificate. An SREC is a sellable certificate that represents all the clean energy benefits of the electricity generated by a solar electric system. Each time a solar electric system generates 1,000 kilowatt-hours of electricity, an SREC is issued which then can be sold for cash. A grid-connected solar electricity system in New Jersey is eligible to collect SRECs on all energy produced by the system for a 15-year period. The price of an SREC is fixed at a predetermined price based on sector. For residential solar systems, the SREC is fixed at $85.00.
Net Metering
Net Metering is a billing mechanism which allows grid- tied solar producers to put electricity that they do not use from their solar array back into the grid. When the solar produces more power than the site needs, the utility meter spins backwards, and the account holder will have a credit against future energy use. The solar producer is then billed for their total “net” usage at the end of the month, which is the balance between the power pulled from the grid and the power put back into the grid.
Federal Solar Tax Credit (ITC)
The Solar Investment Tax Credit (ITC) is a dollar-for-dollar federal tax credit which reduces a person or business’ tax liability based on the amount they have invested in a solar energy project. The residential and commercial ITC are both worth 30% of a solar project’s cost though 2032. For example, a $10,000 solar electricity system will be eligible for a $3,000 federal tax credit. Customers that purchase or finance their system through a solar loan are eligible for this incentive.
