Benefits of Solar Energy
Solar energy has multiple advantages that will enhance your home for years to come.
- Lower utility costs: Generating some or all of your own energy will cut power costs long-term. Plus, some states provide net metering programs that enable you to sell your extra energy back to the grid, generating extra credits toward your energy bill.
- Reduced carbon footprint: Utilizing solar is a surefire way to decrease your carbon footprint and home fossil fuel dependency.
- Better energy independence: Adding a battery storage system lets you have trustworthy energy during storms and grid outages.
What Solar Incentives Are Available to South Brunswick Homeowners?
New Jersey homeowners who go solar could qualify for special financing, tax credits, reimbursements and rebates. Here are just a few of the local 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: 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 South Brunswick
Choosing a company is the first step toward an effective and cost-efficient solar array. Here are some key items to keep in mind while shopping for a solar installer.
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 master-level professionals on the team will also handle permit work for the job. You should also visit a company's website to learn about its private credentials. Two of the most recognized are the Solar Heating Installer and PV Installation Professional certificates, awarded 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 South Brunswick
The kind of solar panels you purchase dictates how much electricity you can produce. Monocrystalline panels and high-quality and cost more but give you the best performance. Polycrystalline panels work with a tried-and-true mechanism and cost less, but produce less power. Thin-film panels aren't the best for large residential installations, but they are excellent accessories for non-traditional roofs.
Additional components, such as electric vehicle (EV) chargers and battery storage, will add to your overall installation costs. However, they might make your solar system more efficient and convenient to use. Not every solar contractor includes these optional components, so look for a contractor that sells them if it's crucial for you.
Most South Brunswick homeowners select solar systems sized for five kilowatts (kW) of electrical capacity. These systems run about $17,650 to install, considering both materials and labor. You can find more specific solar cost information in the table.
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 South Brunswick
Solar providers use multiple different financing options to increase your savings and lower your costs. Though some providers offer unique payment plans, the most common are power purchase agreements (PPAs), solar loans, solar leases and cash payments. Though it involves a large up-front payment, cash is the most affordable choice because it doesn't accrue interest and qualifies you for incentives. Solar loans are the next best option. As with a car loan or mortgage, you'll pay a monthly rate towards system ownership, including interest. You can still apply for cost-saving solar incentives, and depending on your lender, you could put as little as $0 down. Solar leases involve paying a set monthly rate to use rooftop panels. A PPA (Power Purchase Agreement) permits you to pay a monthly rate determined by the energy you use, like an electric bill. We typically don’t recommend these two options because you won't own the solar system and cannot use solar incentives. Look for installers that offer two or more payment plans to find the right fit for your financial needs.
The table below lists the average payback periods for different capacities of solar systems in South Brunswick.
A 26% federal solar tax credit applies to new residential solar equipment purchased through 2032. Further incentives may be available through city and state governments, usually in the form of rebates and special financing programs.
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 South Brunswick
How much energy and money could I save per year by switching to solar?
Is solar energy widely available in South Brunswick?
Should I anticipate a boost in my property value after adopting solar power?
How can I evaluate my home's solar viability?
How do I care for my new solar system?
What's the average solar system size in South Brunswick?
What are the signs I shouldn't use a particular solar company for my job?
- Pushy sales approach
- Not being straightforward about warranties, references, training and credentials and cost
- Limited or no customization
- Rushing through the site assessment
- No business filing with your local secretary of state
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