Benefits of Solar Energy
Solar energy offers multiple perks. Here are some highlights.
- Better energy independence: Adding a solar battery storage system lets you have trustworthy energy during grid outages and storms.
- Reduced carbon footprint: The sun is one of the universe's most abundant clean energy sources, meaning you can reduce or eliminate your home's dependence on non-renewable sources.
- Smaller power bills: Producing some or all of your own electricity will save you money on your electric bills long-term. Plus, some states offer net metering programs that make it possible for you to sell your unused energy back to the grid, generating extra credits toward your energy bill.
What Solar Incentives Are Available to Woodbridge Homeowners?
The state of New Jersey offers a range of solar incentives to help minimize your solar system costs. Here is a breakdown of applicable solar programs where you live.
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 Woodbridge
The price and efficacy of solar panels often depend on the provider that mounted them. Consider all of these elements in your service provider search.
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 pull permits for the job. Solar installers can also obtain certificates from trade groups and standards organizations. The most recognized ones in the industry come from the NABCEP. Most company websites will prominently display earned credentials, but you should also ask your estimator for more information.
Cost of Solar Panels in Woodbridge
Your photovoltaic panels' style will affect how much electricity you can generate. Monocrystalline panels are among the highest quality and perform the best but cost the most. Polycrystalline panels offer you a budget panel with a traditional design, but at the cost of less power generation. Thin-film panels have a low cost and are excellent for non-traditional roofs, but aren't recommended for large home installations.
If you'd like to charge an electric vehicle (EV) or use your solar power in inclement weather, you can pay extra for add-ons. By choosing the right components, you can make your system more effective and user-friendly. Not every solar contractor includes these add-ons, so look for a contractor that installs them if it's essential for you.
Generally speaking, it costs about $17,650 for a five-kilowatt solar array in Woodbridge. This table displays more specific pricing information for different solar panel types and system components in your area.
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 Woodbridge
Solar providers offer 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, cash payments and solar leases. Most solar experts recommend paying cash or using a solar loan. Cash payments demand a large up-front sum, but they help you avoid 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. Like 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, similar to an electric bill. We typically don’t recommend these two options because you won't own the system and cannot use solar incentives. We advise working with a provider that offers multiple financing options. Speak with each representative about what's available, and get more than one estimate for the best odds of keeping within your spending limits.
The table below lists the average payback periods for different capacities of solar systems in Woodbridge.
A 26% federal solar tax credit applies to new home solar systems purchased through 2032. Additional incentives may be available through local 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 Woodbridge
How much energy and money could I save per year by switching to solar?
Is solar energy readily available in Woodbridge?
Should I expect a boost in my property value after installing solar panels?
How long is a Woodbridge solar panel's average lifespan?
Is solar installation a quick job?
What's the average solar system size in Woodbridge?
What are the signs I shouldn't use a particular solar company for my job?
- Pressuring you into signing a contract
- Not being straightforward about cost, warranties, credentials and training and references
- "One-size-fits-all" approach
- Not thoroughly inspecting your site
- Limited online information
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