Home solar power in New Jersey is expected to dramatically expand by 2030 thanks to a combination of federal, state, and local solar power incentives. Finding the right solar installer in New Jersey may be overwhelming, but ADT Solar is excited to announce that we’ll be coming soon to New Jersey. ADT Solar has a reputation for providing quality service since 2008 and in 2021 Solar Power World ranked ADT Solar, formerly Sunpro Solar, #2 for Top Residential Solar Installer in the United States.
ADT Solar is proud to offer some of the best warranties you can find in the solar industry and only use products that offer the same. Here is a list of the warranties and services we provide with every install:
As one of the largest residential solar installers in the nation, we take care of you every step of the way. We have helped thousands across the nation save money and gain energy independence and we’re excited to begin offering solar installations to New jersey homeowners soon.
If you’re ready to make the decision to switch to clean energy, you may be wondering how to choose the right installer in your area. Let’s go through some of the most important things to be aware of when choosing a solar panel installer in New Jersey.
New Jersey, the Garden State, is home to the first drive-in movie theater, the first baseball game, and the world’s longest boardwalk in Atlantic City. But here’s a fact you might not know: New Jersey is also a great state for solar energy. That’s right, it’s in the top 10 states in the nation for going solar. Here are a few facts about solar in New Jersey:
One of the main reasons it’s worth going solar in New Jersey is due to solar incentives. New Jersey is one of the top ten states to go solar in the U.S. because of its aggressive renewable portfolio standard (RPS) which leads to some of the best incentives in the nation. This makes installing solar panels a great investment.
Let’s go over the top incentives available in your area, but make sure to talk to a Solar Sales Specialist to find out all the incentives available for your particular situation. You might be surprised to find out how easy it is to switch to clean solar energy.
We’ll start off with the best solar incentive out there for going solar: the Solar Federal Investment Tax Credit (ITC) offered by the United States federal government. This federal tax credit is available to New Jersey home and business owners and provides a potential 30% tax credit of the entire solar system cost, including a battery system.*
Sales tax in the state of New Jersey is around 6% and for larger purchases, that extra sales tax can increase costs more than anticipated. But good news for residents of New Jersey: solar panels in New Jersey are completely tax exempt from sales tax!
It doesn’t matter what size your solar PV system is. There’s absolutely no sales tax added to the price. Residents in New Jersey start out ahead of the game with thousands of dollars in savings by not paying sales tax. Just another reason solar panels are worth it in New Jersey.
You may be aware that additions to your home can result in an increase of property taxes. But in New Jersey, solar panels are completely property tax exempt (100% of the assessed value of the solar system is exempt from the homeowner’s property taxes). That means you’ll get the value of having them on your roof without having to pay additional property taxes. This also includes solar panels increasing home value (read more about it below).
One of the best incentives for going solar in New Jersey is a program called net metering. According to NJ Clean Energy, net metering in New Jersey “enables customers to receive full retail credit on their utility bill for each kWh of electricity their system produces over the course of a year. At the end of an annualized period, the customer-generator will receive credit on their utility bill at the wholesale value of electricity for any excess generation that remains.”
This means, as a homeowner, you can sell any excess electricity produced by your solar panels to your utility company. They will then credit your account for this energy, which reduces your monthly bill (or gives you a credit for future months). The rules for net metering are different depending on your utility company.
Currently, all electric utility companies regulated by the NJBPU must offer net metering to retail customers that generate electricity through renewable systems, including: PSE&G, JCP&L, Atlantic City Electric, and Rockland Electric.
If you’re wanting to go solar in the state of New Jersey, you’re protected under the New Jersey solar access laws. In fact, New Jersey was one of the first states to pass this law in 2007. This law protects your right to install and generate energy with your solar panels.
The law states, “An association formed for the management of commonly-owned elements and facilities, regardless of whether organized pursuant to section 1 of P.L.1993, c.30 (C.45:22A-43), shall not adopt or enforce a restriction, covenant, bylaw, rule or regulation prohibiting the installation of solar collectors on certain roofs of dwelling units”.
In other words, this means your homeowners association (HOA) cannot interfere with your choice to install solar panels on your home.
Besides the Solar Federal Tax Credit (read more above), New Jersey has something called renewable energy credits. Although the SRECs in New Jersey ended in 2020, they now have a similar program called TRECs or Transition Renewable Energy Certificates.
Solar Renewable Energy Certificates (SRECs) started because of New Jersey’s strong renewable portfolio standard (RPS). The RPS required all utilities to switch to 20.8% renewable energy sources by 2021 and 50% by 2030. They set the goal of 5.1% from solar power by 2021. Therefore in order to meet these demands, utilities started to buy SRECs from solar power producers, which includes residential solar systems. However, they met their goal faster than predicted which led to the adoption of a new transition program for renewable energy certificates (TRECs). TRECs and SRECs are very similar except for their pricing structure and factorization depending on the type of solar install is generating the power.
The cost of solar in New Jersey depends on a lot of factors including the equipment, size of your home, your energy needs, and your home energy goals. To best understand the cost of going solar, these factors should be discussed with a qualified Solar Sales Specialist who can offer you an appropriate quote for your particular situation.
The good news for New Jersey residents is that you’re in a prime state for solar incentives that help to offset the initial price tag.
In addition, electricity prices are on the rise, and NJ ranks #7 for highest electric rates in the nation. The average residential electricity rate is 15.78¢/kWh, which is 32.83% greater than the national average residential rate. Even better news: your solar system will pay for itself at some point and start making you money, thanks to net metering.
Not only do solar panels save you money, they also add value to your home. And if you live in New Jersey, according to CNBC, it’s the top state in the country for the highest selling value with solar installed. Here are their rankings for how much solar adds value to the median-valued home:
Even the experts agree! In a comprehensive report done by the US Department of Energy and National Renewable Energy Laboratory (NREL), they found out having solar panels installed to your home helps sell your home faster and get more money for it!
On average, solar panels add $20 of value for every $1 you save on your electric bill. So if you saved $200 a month on your electric bill with solar panels, you’d have an additional $4,000 of value added to your home.
And again in 2015 the Department of Energy and Berkeley Laboratory confirmed these findings with another study on the real estate market. After analyzing 22,000 homes, they found that homes with solar panels fetched a higher asking price than those without. About $4/watt, which comes out to be around $15,000 for residential, depending on your home and solar system.
In addition, solar panels can help your property spend less time on the market. In another study done by NREL, they found that solar properties earned about 17% more at closing, in addition to selling 20% faster.
*Tax and credits or incentives including those provided by federal, state, or local governments may change or end. This can impact the amount of money you might save. Consult a tax professional to understand any tax liability or eligibility for any tax credits that may result from the purchase of your solar system.
**If you have taxable income and own the system, you may qualify for the federal investment tax credit (ITC). It is your responsibility to determine your eligibility and to apply. Consult a qualified tax professional for assistance and details.