Take Advantage of Local New Jersey Tax Incentives for Solar Panels
Find out exactly how much solar will save Camden County, NJ homeowners
Cost of a Solar Power System in Camden County, NJ
One of the first things to consider when it comes to solar is whether this investment makes sense for you financially. At Momentum Solar, we have been helping residents of Camden County transition to solar for over 10 years. This experience has given us the knowledge we need to help our customers plan and finance a solar power system that is both affordable and likely to provide a high return on investment.
How Much Do Solar Panels Cost in Camden County?
Let’s get the big question out of the way first. The cost of solar panels will vary based on the size of the system you require and how the solar panels will be installed on your roof. While this amounts to a substantial amount of money for most of our customers, there are immediate savings available through solar tax credits and local incentives – and of course, by going solar you will start saving money on your power bill from day one.
Cost Savings from Solar Tax Credits
When you purchase solar panels, you are eligible for the federal solar Investment Tax Credit (ITC). This tax credit lowers the cost of your solar panels by offering a dollar-for-dollar reduction on your income tax liability at the end of the year. This program is available for the next three years at the following percentages:
- 2020: 26% reduction on the cost of your solar panels
- 2021: 22% reduction on the cost of your solar panels
In order to take full advantage of these incentives, you need to get your solar panels installed sooner rather than later. The federal solar tax credit will no longer be available for residential customers after 2021. If you are considering solar panels, it would be wise to act now while the savings are greatest.
Solar Financing Options in Camden County
Convinced that solar panels are a great investment, but not sure how to pay for them? We have good news – at Momentum Solar, we offer several solar financing options that are designed to help you get solar panels even if you don’t have the upfront capital for the purchase. Most of our customers get solar panels through one of these two options:
- Solar loan: By taking a out a loan, you’ll get all the advantages of owning solar panels, without having to wait years to save the money you need to purchase them. We offer several different loans, each at competitive rates and terms.
- Solar PPA: If you want to enjoy the benefits of solar panels without the responsibility of ownership, a solar Power Purchase Agreement (PPA) could be the right choice for you. With a PPA, Momentum Solar will own your solar panels and be responsible for all of the costs associated with installing and maintaining them. You will pay a fixed rate for the electricity generated by the panels, which works out to be cheaper than buying electricity from the grid.
With these solar financing options, you can get solar panels in Camden County at a reasonable rate. Our knowledgeable team can help you decide which financing option is the best choice for you.
Schedule a Free Consultation with Momentum Solar
We offer all new customers a free consultation to provide further information about our services and create a quote for the cost of solar panels for your home. During this meeting, you’ll have a chance to ask any questions you might have about going solar and learn more about our solar financing options. Please contact us today to get started – we look forward to hearing from you!
This customer’s bill is estimated to be $150 lower than the previous bill.
What you can do next:
Discover a new way to save energy.