Explore Incentive Details

Federal Tax Benefit

Benefit from the 30% Investment Tax Credit when you set up a system with at least 2.3 kwh capacity. Think of this as a direct rebate on your tax returns. On average, homeowners save $10,789 through this incentive.

State SREC-2 Initiative

Under this initiative, you're guaranteed a fixed rate for 15 years: $90 for every 1,000 kw your solar system generates. Given that the typical system in NJ yields 9,967 kw annually, you're looking at savings of over $13,500 across the system's lifespan!

Net Energy Metering (NEM)

NEM, or Net Energy Metering, might just be the most attractive incentive for homeowners.

• It's a pact with your power provider wherein they bill you solely for the electricity consumed beyond your system's generation.
• To illustrate: if your installation generates 12,000 kw and your consumption matches that, you won't find charges for electricity use on your bill. This ensures you're powered even during nighttime, when your setup isn't feeding the grid.
• And here's a bonus: if your solar setup contributes more power to the grid than you utilize, you'll earn credit on your utility invoice, calculated at the wholesale price per kilowatt-hour.

Understanding the NJ Roof Replacement Initiative
A Special Roofing Benefit for Eligible Solar SREC-2 Participants

To discourage the installation of solar panels on subpar roofs, there's now a prerequisite of a 10-year service warranty for solar eligibility. Recognizing this, the Roof Replacement Program emerged as a solution. Its objective? To reassure homeowners about their solar panel installations, mitigating concerns about potential leaks and roof damage. Under this program, a durable GAF roof, boasting a 50-year warranty, is installed. This roof remains unaffected by the solar panel installation, ensuring the optimal lifespan of the panel system.
However, it's crucial to note that this offer isn't universal; not every home will qualify.