Residential Solar Photovoltaic Installation
The Motives:
Environmental concerns are prevalent today and for many homeowners are fully sufficient motivators to seriously consider residential solar power. But for most, electric savings are first and foremost. The pleasant surprise, however, is that installing residential solar goes beyond utility savings once the system has paid for itself (only 3 - 5 years for residential due to reduced system costs). Sale of your earned solar certificates, or SRECs, can yield a substantial revenue stream above and beyond your utility savings.
How Residential Solar Saves and even Makes Money
Most homeowners are understandably befuddled by how installing residential solar makes financial sense in this economy. Yet for many it does. The state of New Jersey offers ample financial motivation, albeit in its own not-too-easily-understood way. Installing solar photovoltaic panels can go well beyond utility savings and actually make you money.
SRECs - Solar Renewable Energy Certificates: In addition to saying goodbye to your electric bill, your system will earn SRECs for 15 years. Every megawatt of power your system produces earns you one SREC. Utilities are state mandated to buy SRECs and they currently sell for over $600 each. At first they help you pay for your system and keep your cash flow positive. Once you reach your break-even point your system becomes a cash cow, still producing SRECs and PROFIT for you. After year 15 you cease earning SRECs but continue to enjoy little or no electric cost.
New Jersey Solar Rebate:
New Jersey's solar rebate program reduces the initial cost of
residential solar power
systems by about 15%. Your system will be approved for a rebate
if it meets the state's 80% efficiency requirement. (We assure
it will). Rebates are currently $1.75 / Watt with an energy
audit.
Buy Residential Solar With Little Money Down:
All NJ utilities have programs which assist paying of the
substantial initial purchase of a PV system.
PSE&G, for example, has a solar loan program which lends you
money which you then repay with your SREC revenue.
Bottom Line:
Let us show you how your residential solar installation can pay for
itself in an average of
4 years. We'll also show you how you’ll pay off your
solar loan using your SRECs as
payment if you're a PSEG customer. After payoff, your system becomes a profit
generator through year
15.
Run the Numbers with this Residential Solar Financial Example
The First Steps Toward Residential Installation
The first challenge is to assure your residential solar system will meet the New Jersey state mandated 80% efficiency requirement, without which your system will not qualify for state financial incentives. This is purely a matter of having sufficient mid-day sun. If your roof is unshaded from 9am - 3pm you'll have no problems.
As we expand into installation from our pure consulting roots, our proposals are sure to beat any you'll receive from other installers. We aggressively price and handle all the paperwork for you.
It all starts with a phone call. Contact New Jersey Solar Consulting to discuss your solar photovoltaic system at 201-736-9388.
Solar installations for most homes go up
in under a week. Systems pay for
themselves in 3 - 5 years and then
produce profits due to SREC
sales in
addition to the electric savings.