Why New Jersey is The Ideal State to Install Solar Power

Solar power is an ideal sustainable solution for powering your home or your business. And the state of New Jersey has a range of incentives and tax credits you can use to your advantage to make it even more affordable. If you’ve been considering installing a solar system at home or at your business, now is an excellent time to invest in clean energy. Here’s why:

New Jersey’s Solar Incentives

New Jersey’s Successor Solar Incentive (SuSI) Program is divided into two sub-programs:

  • Administratively Determined Incentive (ADI): This program provides a fixed-incentive payment for residential, most commercial and industrial, and community net metered solar projects, and the payment is guaranteed for 15 years. The type and size of the solar project will determine the value of the incentive, and it generally ranges from $70 to $120 for every megawatt hour of energy the system produces.
  • Competitive Solar Incentive (CSI): This program is for projects larger than 5 megawatts and grid supply projects, and it involves a competitive solicitation process. The goal is to set the lowest financial contribution from rate-payers for solar projects that provide energy directly to the grid, and for larger-scale commercial and industrial projects.
  • NJ Solar Sales Tax Exemption: This incentive allows a 100% sales tax exemption on all major solar equipment you buy for your home, which means you save 7% upfront. All taxpayers are eligible for this incentive.
  • NJ Property Tax Exemption: Under this incentive, home and business owners are not taxed on the increase in value to their properties when a solar system is added.  

 

Solar Tax Credit – NJ Residential and Commercial

The Federal solar tax credit reduces the cost of solar panels for both residential and commercial buildings. Also known as the Solar Investment Tax Credit (ITC), it allows you to deduct 30% of the installation costs from your federal income taxes. 

Switch and Save Today with Green House Solar

If you’re ready to make the switch from traditional energy to solar energy, our team at Green House Solar is happy to help. We’ve helped plenty of homeowners and business owners across New Jersey make the change, so they can harness the free, clean, renewable power of the sun. 

For more information about solar power and how you can take advantage of New Jersey solar incentives, please contact our team at Green House Solar today or visit our website at: http://greenhouse.solar/

Three reasons why going solar is good for the economy

Solar panels are good for the environment, but did you know that solar energy is also good for the economy? As we deal with the impacts of climate change, governments are under pressure to move away from fossil fuels and make investments in solar energy on a big scale. If you’re a business owner or a homeowner and you’ve been considering going solar, it’s great to know that your decision will be beneficial for the climate, as well as the economy. 

#1. Solar Energy Diversifies The U.S. Energy Mix

Experts in the energy industry largely agree that diversification is a positive thing because it strengthens the security of existing energy infrastructure. Energy comes from a range of resources, including oil, coal, natural gas, solar, wind, hydro, and geothermal. Diversifying the U.S. energy mix can help prevent price spikes and reduce the chance of energy crises after natural disasters. 

For example, in February 2022 a snowstorm hit areas of Northern Texas that had never seen this type of weather. The energy infrastructure failed because it wasn’t equipped to handle a snowstorm, and hundreds of thousands of people were without power in below freezing temperatures. 

#2. Solar Energy Creates More Jobs

E2, a nonpartisan group, released the 2020 Clean Jobs America report focused on helping the American economy recover in the wake of COVID-19. The report found that more than half a million jobs in the US are supported by renewable energy, with solar energy specifically supporting around 345,000 jobs. 

Also, nearly 40% of all energy jobs in the US are within clean energy. This is a huge percentage of the energy workforce, and industry experts predict it will continue to grow larger over time. 

#3. Global Warming is Expensive

In an alarming report issued in 2018 by the United Nations, a panel emphasized that it’s essential we dramatically reduce our greenhouse gas emissions by 2050 if we want to avoid catastrophic change:

  • Damage from climate change in the US is estimated to cost approximately 1.2% of GDP per year for every 1°C increase
  • The damage already caused by climate change from warming in 2100 for 1.5°C and 2°C are $54 and $69 trillion

If you had any questions about whether or not solar energy is good for the economy, we hope we’ve answered them here. If you’d like any more information about installing solar energy systems in NJ, please contact our team at Green House Solar today. You could also visit our website at: http://greenhouse.solar/