Benefits of Solar Energy
Solar energy provides numerous advantages that will enhance your home for years to come.
- Lowered energy bills: Solar panels let you generate your own energy to power your home, decreasing your regular electricity costs. You can eliminate your bills completely if you go off-grid. Plus, a significant number of states offer net metering, which permit you to earn money by selling your unused energy back to the grid.
- Reduced carbon footprint: Solar is one of the universe's most abundant clean energy sources, meaning you can minimize or conquer your home's dependence on non-renewable sources.
- Better energy independence: Solar energy can keep your home powered through emergencies and blackouts. You can use your solar energy anytime with optional battery backup.
What Solar Incentives Are Available to East Brunswick Homeowners?
Governments and power companies often incentivize homeowners for going solar. Here are some of the rebates, tax credits or other programs you could qualify for.
Incentive Type: Sales Tax Incentive
Incentive Amount:
100% exemption
Incentive Type: Performance-Based Incentive
Website: njcleanenergy.comIncentive Amount:
Net-Metered Residential: $90/SREC-II
Small Net-Metered Non-Residential located on Rooftop, Carport, Canopy and Floating Solar
Projects smaller than 1 MW (dc): $100/SREC-II, $120 for public entities
Projects 1 MW to 5 MW (dc): $90/SREC-II, $110 for public entities
Net Metered Non-Residential Ground Mount
Projects smaller than 1 MW (dc): $85/SREC-II, $105 for public entities
Projects 1 MW to 5 MW (dc): $80/SREC-II, $100 for public entities
Community Solar LMI: $90/SREC-II
Community Solar Non-LMI: $70/SREC-II
Incentive Type: Property Tax Incentive
Incentive Amount:
100% of value added by renewable system
Incentive Type: Solar Renewable Energy Credit Program
Website: njcleanenergy.comIncentive Amount:
Determined by the market.
In June 2016, SREC traded at an average price of $229.90.
Incentive Type: Other Incentive
Website: pseg.comIncentive Type: Rebate Program
Website: njcleanenergy.comIncentive Amount:
Incentives depend on the HERS score and the classification
Single family homes: Ranges from $1,125 to - 24,250
Multi-single homes: Ranges from $1,125 to $18,188
Multifamily homes: Ranges from $625-$12,125
Incentive Type: Rebate Program
Website: NJCnjcleaneEnergy.comIncentive Amount:
Rebates
Single family : $2,000 to $4,000
Multi-family : $500-$1,500 per unit
Rebates for single family and multi-family should not exceed 50% of the cost of the measures used to calculate total estimated savings (TES)
See table below for details
Loans
Single-family: $5,000 (Tier II) or $10,000 (Tier III)4.99% interest loans up to $15,000 (where utility 0% financing is unavailable)
Incentive Type: Rebate Program
Website: NJCleanEnergy.comIncentive Amount:
Central AC: Tier 1 $300(Tier 1), $500 (Tier 2)
Ductless Mini Split A/C or Heat Pump: $500
Air Source Heat Pump: $300 (Tier 1), $500(Tier 2)
Geothermal Heat Pump: $500
Incentive Type: Rebate Program
Website: NJCleanEnergy.comIncentive Amount:
Residential Electric Customers (including municipal utility customers):
Solar Hot Water Heater: $1,200
Heat Pump Water Heater: $500
Geothermal Heat Pump: $500
Air-Source or Ductless Mini-Split Heat Pump: $300- $500
Residential Gas Customers (including propane):
Gas Furnace: $250- $500
Gas Boiler: $300
Gas Water Heater: $300
Solar Hot Water Heater: $1,200
Oil Heating Customers:
Oil Furnace: $250
Oil Boiler: $300
Combination Rebate
Boiler and Water Heater Combination Rebate: $700
Furnace and Water Heater Combination Rebate: $700- $950
Incentive Type: Rebate Program
Website: njcleanenergy.comIncentive Amount:
$900,000 or 30% of the cost per project, which ever is less
Incentive Type: Personal Tax Credit
Website: ecowatch.comIncentive Amount:
30% federal tax credit for systems placed in service after 12/31/2021 and before 01/01/2033. Good for: solar water heat, solar photovoltaics, biomass, geothermal heat pumps, wind (small), fuel cells using renewable fuels.
How To Choose the Best Solar Company in East Brunswick
Choosing a company is the first step toward an effective and cost-efficient solar array. Consider all of these criteria in your company search.
Licensing and Training
Licensing requirements mean that your New Jersey solar installation team may have a variety of different professionals, including an electrician for wiring work and a master plumber for piping work. The most experienced professionals on the team will also liaise with your local government and utility on permit matters. Solar companies can also pursue accreditations from standards organizations and trade groups. The most prestigious ones in the industry come from the North American Board of Certified Energy Practitioners. Most company websites will prominently display earned credentials, but you should also ask your estimator for more information.
Cost of Solar Panels in East Brunswick
The type of solar panels you choose decides how much energy you can produce. Monocrystalline panels and high-quality and give you the best performance but cost more upfront. Polycrystalline panels produce less power, but they're worth it if you want a traditional panel style without the high cost. Thin-film panels aren't the best for large residential installations, but they are excellent accessories for non-traditional roofs.
If you need to charge an electric vehicle (EV) or use your solar power in dark weather, you can pay extra for add-ons. By choosing the right components, you can make your panel array more efficient and user-friendly. Not all solar contractors include these additional features, so look for a company that sells them if it's a priority for you.
You can plan to spend about $17,650 on average for a five-kilowatt solar energy system in East Brunswick. Check the table in this section to get an idea of what amount East Brunswick solar companies might quote for your specific solar system's price.
Solar Panel Cost | Average Cost |
---|---|
Solar Monocrystalline | $1,204 |
Solar Polycrystalline | $939 |
Thin-Film | $549 |
Solar Battery | $770 |
Solar Home EV Charger | $2,889 |
Financing Solar Energy in East Brunswick
Choosing the optimal financing option will affect your overall solar system cost and possible savings. Common payment options include cash payments, leases, loans, and power purchase agreements. Most solar experts recommend a cash payment or using a solar loan. Cash payments demand a large up-front sum, but they save you from paying interest, grant you system ownership, and qualify you for cost-saving solar incentives. Solar loans have the same benefits, though you'll pay more in total due to interest and fees. Similar to an auto or home loan, you'll pay a set monthly rate with as little as $0 down. Solar leases involve paying a set monthly rate to use rooftop panels. A PPA (Power Purchase Agreement) lets you pay a monthly rate determined by the energy you use, akin to an electric bill. We generally don’t recommend these two choices because you won't own the system and are disqualified from using solar incentives. Ask each business you're vetting about the payment plans it offers. A staff member can help you determine the best option for your financial situation.
The table below lists the average payback periods for different capacities of solar systems in East Brunswick.
You can claim a 26% federal solar tax credit from the IRS for new residential solar systems purchased before 2032. Additionally, local governments and utilities may have their own rebates and financing plans that could reduce your total cost even more.
Solar System Capacity | Estimated Payback period |
---|---|
1 kW | 2.8 years |
2 kW | 5.6 years |
5 kW | 14.1 years |
10 kW | 28.2 years |
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Frequently Asked Questions About Solar in East Brunswick
How much money could I save by going solar in East Brunswick?
Is solar energy common in East Brunswick?
Should I anticipate a boost in my property value after installing solar panels?
What maintenance do my solar panels need, and how frequently do they need it?
What size should my new East Brunswick solar system be?
What is the average payback period for East Brunswick solar panels?
What's the difference between a PPA and traditional financing?
In contrast, solar loans can come from the government, local banks, specialty lenders and installer. You'll need to pass a credit check to qualify for most of them. While the upfront costs are higher, and you'll be responsible for taking care of the system, you'll also have complete ownership and can apply for many more financial rewards.
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