Benefits of Solar Energy
Solar energy comes with multiple perks. Let's look at a few of them.
- Better energy independence: Adding a solar battery storage system lets you have dependable energy during grid outages and storms.
- Lowered energy bills: You can avoid the expensive cost of grid-tied power by producing some electricity right where you use it. Plus, many states offer net metering which can allow you to sell your unused energy back to credit part of your bill.
- Reduced carbon footprint: Using solar is a surefire way to lower your carbon footprint and home fossil fuel dependency.
What Solar Incentives Are Available to Howell Homeowners?
New Jersey homeowners who decide on solar could qualify for tax credits, special financing, rebates and reimbursements. Here are just a few of the area's incentive programs.
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: 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 Howell
Choosing a company is the first step toward a well-oiled and cost-efficient solar energy system. Make your choice based on the following important considerations.
Licensing and Training
Licensing requirements mean that your New Jersey solar installation team will likely 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. You should also visit a company's website to learn about its private credentials. Two of the most prestigious are the Solar Heating Installer and PV Installation Professional certificates, backed by the North American Board of Certified Energy Practitioners (NABCEP). Some companies don't publish this information online, so you should also ask your estimator about them.
Cost of Solar Panels in Howell
Your solar panels' style will affect how much energy you can produce. Monocrystalline panels are among the highest quality and cost the most but perform the best. Polycrystalline panels offer you a budget panel with a traditional design, but at the cost of less power generation. Thin-film panels are excellent for non-traditional roof shapes and cost the least, but don't work well for large residential installations.
If you'd like to charge an electric car or use your solar power in cloudy weather, you can pay extra for add-ons. By selecting the right components, you can make your system more productive and convenient to use. Not every solar contractor offers these optional components, so look for a contractor that installs them if it's a priority for you.
Generally speaking, it costs about $17,650 for a five-kilowatt solar array in Howell. This table lists more specific prices for different solar panel types and system components in your area.
Solar Panel Cost | Average Cost |
---|---|
Solar Monocrystalline | $1,237 |
Solar Polycrystalline | $965 |
Thin-Film | $564 |
Solar Battery | $792 |
Solar Home EV Charger | $2,968 |
Financing Solar Energy in Howell
There are many ways to pay for a new solar system, and the right one will lower your costs. A few of the most common options include cash payments, leases, loans, and power purchase agreements (PPAs). We advise making a cash payment or using a solar loan for the highest return on investment (ROI). Cash payments require a hefty sum up-front, but you’ll pay the least long-term by avoiding interest. You’ll also have full ownership of your system and can apply for solar panel incentives to reduce your total costs. Solar loans are another solid option if you don’t want to make a big initial investment. You can pay for your system in installments while still benefiting from energy bill savings and solar incentives. However, you’ll spend more in total due to accruing interest. Solar leases allow you to rent your panels for a fixed monthly rate, while PPAs let you pay just for the energy you use, akin to an electric bill. Both options disqualify you for solar incentives and do not provide you system ownership. Solar experts generally don't recommend them, but they might be suitable in some cases. Look for installers that offer multiple payment plans to find the right fit for your budget.
The table below lists the average payback periods for different capacities of solar systems in Howell.
The IRS allows you to claim a 26% federal tax credit for solar panels on your new solar panels, so long as you purchase it before 2032. City and state governments and utilities might also offer their own rebates, financing programs, and incentives that could save you more money.
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 Howell
How much energy and money could I save per year by switching to solar?
Is solar energy widely available in Howell?
Should I anticipate a property value increase after installing solar panels?
How can I check my property's solar potential?
How long does the photovoltaic installation process require?
How long does it take to pay back a solar loan in Howell?
How can I maximize my solar array's performance?
- optimize the panels' position with your solar installer
- regularly clean your solar panels
- upgrade to a more efficient inverter trim or cut down trees in the way of your panels
- use energy-efficient appliances
How does "net metering" work, and do I need to participate?
Some states or power companies mandate you to join net metering when purchasing your solar system, while others give you a choice. Either way, once you sign up, you'll receive a bill credit or check for your excess generation at a wholesale or retail rate.
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