Benefits of Solar Energy
Solar energy provides multiple advantages. Let's look at a few of them.
- Reduced carbon footprint: Using clean solar power means you're less dependent on fossil fuels, which emit harmful greenhouse gasses.
- Better energy independence: Adding a solar battery storage system lets you have trustworthy energy during grid outages and storms.
- Lower utility costs: Sourcing some or all of your own electricity will save you money on your electric bills long-term. Plus, some states provide net metering programs that enable you to sell your extra energy back to the grid, generating additional credits toward your energy bill.
What Solar Incentives Are Available to Linden Homeowners?
Governments and utility companies often reward homeowners for adopting solar. Here are some of the tax credits, rebates, 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 Linden
The more thorough your provider search is, the better your photovoltaic system will ultimately work. 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 master-level professionals on the team will also handle permit work for the job. Look for private accreditations from the North American Board of Certified Energy Practitioners (NABCEP), among the solar industry's most respected trade groups. Its program includes certifications for both solar photovoltaic and water heating installers.
Cost of Solar Panels in Linden
Different solar panel types look and perform differently. Monocrystalline panels offer the best energy production but cost more than other options and generally have the highest quality. Polycrystalline panels provide a lower price point but produce less power. Thin-film panels work well for small projects like RVs and sheds, but they're not ideal for larger installations due to their low performance.
If you need to charge an electric vehicle (EV) or use your solar power in inclement weather, you can pay extra for add-ons. By selecting the right components, you can make your panel array more productive and convenient to use. Not every solar provider provides these extras, so look for a contractor that installs them if it's a priority for you.
If you're a resident of Linden and are considering getting a five-kilowatt solar energy system, you could expect to pay about $17,650 for parts and installation. Find more information on specific component and solar panel costs in the table.
Solar Panel Cost | Average Cost |
---|---|
Solar Monocrystalline | $1,140 |
Solar Polycrystalline | $889 |
Thin-Film | $520 |
Solar Battery | $730 |
Solar Home EV Charger | $2,737 |
Financing Solar Energy in Linden
There are numerous ways to pay for a new solar system, and the right one will minimize your overhead. A few of the most common options include power purchase agreements (PPAs), loans, cash payments, and leases. We suggest 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 own your system and can apply for solar panel incentives to minimize 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 enjoying energy bill savings and solar incentives. However, you’ll pay more in total due to accruing interest. Solar leases allow you to pay a monthly fee to rent your panels, while a PPA lets you pay a fluctuating rate based on only the energy you use. We generally don't recommend these options since you won't own your system and are disqualified from solar incentives, but they might be suitable in specific circumstances. Look for contractors that offer multiple payment plans to find the right fit for your wallet.
The table below lists the average payback periods for different capacities of solar systems in Linden.
You are eligible for a 26% federal solar tax credit for new solar power systems until the year 2032. City and state officials and utility companies might also offer discounts, rebates, and unique financing solutions that could save you 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 Linden
How much money could I save by going solar in Linden?
Is solar energy widely available in Linden?
Will a solar PV system improve my Linden home worth?
What if I live in a rainy or heavily-wooded
How can I determine my property's solar potential?
What care do my solar panels need, and how often do they need it?
How are a solar lease and PPA different?
If you choose a lease, you'll make set monthly payments.
With both leases and PPAs, you don't own your panels and lose eligibility for some incentives. Further, you'll have to "buy out" or transfer the contract if you sell your home during the term.
What's the difference between a PPA and traditional financing?
In contrast, solar loans can come from specialty lenders, installer, the government and local banks. You'll need to pass a credit check to qualify for most of them. While the upfront costs are greater, and you'll be responsible for upkeep, you'll also have full ownership rights and can apply for many more incentives.
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