Back in the days when solar power was new, the technology was still expensive and inefficient, making natural gas the common sense choice for homeowners looking for affordable energy. However, innovative new technology and the growing consumer demand for sustainable energy has brought solar power costs down significantly, making solar power cheaper and more effective than natural gas. As a result, solar has become the go-to choice for homeowners considering power costs in Morris County, NJ.
What Does This Mean for People Interested in Home Solar?
This is fantastic news for anyone interested in taking their home off the grid or moving onto home solar systems! It means that the price of home solar systems, including solar panels and backup battery systems, will continue to become more and more affordable while the technology actually increases in effectiveness.
In the last decade or so, the cost of PV panels alone has dropped by around 88%. In addition, the cost of an average-size residential system has dropped by $40,000 in 2010 to around $18,000 today. This is without taking into account the differences in cost from different solar system providers. And, then there are also financing plans that make these projects even more affordable. Not to mention the NJ SRECs program, which allows you to pay for your system through the additional solar energy you can supply to the grid.
What this also means is that electricity consumers who rely on the grid completely or partly (for example, having a home solar system without the battery backup system) can expect to see prices per kilowatt-hour to reduce as utility companies buy up SRECs from homeowners and implement their own large-scale solar farms.
Invest In Home Solar Now or Wait?
While you can wait for the prices of home solar systems to drop further, there are a lot of advantages to making the move to renewable energy now. Consider the following, for instance:
- Firstly, you are paying more for natural gas while you wait.
- Secondly, the SREC tax incentive is available for a limited time only. It’s set to end in 2021. This means that only homeowners who install residential solar systems before this deadline will qualify for 10 years of SRECs earnings.
Speak to the Specialists About Solar Power Cost in Morris County, NJ
At Greenhouse Solar, we offer the latest in powerful, reliable and affordable home solar systems. As a small local company, we specialize in home solar in Morris County, NJ. Our fully-certified and experienced team is ready to design, install, and maintain your solar system, ensuring you get all the benefits of clean, affordable energy.
Our work is ethical, honest, and professional, and we help you save by avoiding the massive cost overhead of working with big-box solar electric companies. We are an authorized dealer of SunPower solar systems, the same solar cells that NASA uses to power the GROVER Project.