Going solar, means green savings in the Garden State. It’s a good thing New Jersey mandates that a certain amount of electricity must be generated from renewable sources, because residents who go solar with Sunnova are feeling the savings where it counts.
New Jersey is embracing solar. As of 2018, New Jersey ranks fifth among states for installed solar capacity. What makes New Jersey such a good candidate for home solar? Increasing utility rates and new incentive programs that encourage renewable energy generation.
New Jersey Solar Energy Incentives1
In order to receive solar incentives in New Jersey, you must meet specific requirements. For every megawatt-hour your home solar system generates, a homeowner can earn a solar renewable energy certificate (SREC), which can be sold to the utility companies to help them meet their renewable energy requirements.The average home solar installation can generate between 2 and 6 SRECs a year, offering residents impressive savings for energy. Homeowners may qualify for the Solar Investment Tax Credit if they own their solar system, which offers 30 percent tax credit for solar energy systems for residents.
Average Utility Costs in New Jersey
From 1990-20016, residents in New Jersey have seen an annual increase of 2 percent on average, which makes getting a home solar system the right decision.
Source: U.S. Energy Information Administration (EIA)
Over the course of a year, net metering helps New Jersey homeowners with full retail credits on their utility bills for each kWh of electricity their solar system produces. The net metering program helps offset energy use when a system produces more electricity than the customer uses and any surplus kWhs are "netted," or paid back to New Jersey homeowners, on an annual basis.
Solar Benefits for New Jersey
With Sunnova, New Jersey homeowners have solar service plan options that fit their lifestyle. Our solar plans offer affordable, steady monthly payment plans, plus our best-in-class warranty, Sunnova Protect3, to cover out-of-pocket expenses for maintenance and repairs, including labor.
1 Sunnova makes no guarantees regarding customer eligibility for tax benefits. Sunnova does not provide tax advice. Contact your personal tax advisor for eligibility.
2 Sunnova makes no guarantees regarding credit for net energy exported to the electric grid, and any credit provided (now or in the future) is within the sole discretion and control of the utility company.
3 Refer to the Limited Warranty in your agreement for complete warranty terms and limitations. Your solar system production will vary based on weather and other factors. Solar system’s cumulative production will be evaluated to validate annual production guarantee. Refer to your agreement for details. Restrictions and limitations apply. The service agreement can be transferred to the new homeowner. Sunnova’s approval required. Some restrictions apply.
New Jersey Licenses: Electrical Contractor Bus. Permit # 34EB01548900 & HIC 13VH08874400
Find out how much you can save with solar power. There’s no obligation, so you have nothing to lose -- except part of your electricity bill.