Take Advantage of Local New Jersey Tax Incentives for Solar Panels
Find out exactly how much solar will save Essex County, NJ homeowners
How Much Can I Save with Solar Panels in Essex County, NJ?
Anyone considering making the transition to solar will naturally want to understand just how much money they can save by installing solar panels on their property. Thanks to a combination of federal and local solar tax credits and incentives, residents of Essex County who invest in solar panels stand to save a considerable amount of money.
With over a decade of experience installing solar panels in NJ, we have become one of the leading solar installers in Essex County. People just like you are turning to Momentum Solar to help them save money by going solar. While the exact amount you can save will vary based on the size of your home and your energy usage, we can give you a rough idea of what savings you can expect when you invest in solar panels for your home.
Purchase Your Panels – Save $27,000!
An average-sized home in Essex County requires a 5-kW solar system, which typically costs around $26,000. This cost can be reduced in the first year by leveraging the federal solar tax credit, which provides a savings of 30% (this amount will be reduced to 26% in 2020 and 22% in 2021). If you purchase your solar panels, you can also take advantage of a valuable program in NJ known as SRECs (solar renewable energy certificates). This program provides a refund each year for the first 10 years that you own your panels. Most homeowners will save around $12,000 with SRECs over 10 years.
With these two incentives alone, the cost of the system is reduced to just $6,200. Factor in energy savings over 25 years, and you can expect to save around $27,000 after your system is paid off. With such a huge return on investment, it’s no wonder so many Essex County homeowners are choosing to invest in solar panels now.
Solar Financing Options
We offer solar loans with competitive market rates and flexible terms for those who want to buy solar panels without the upfront cost. With a loan, you’ll pay off your solar panels over several years. Since you’ll start saving money right away with your panels, most of our customers find that their loan payments are less than or equal to their monthly electric bill. And once the panels are paid off, the savings are all yours!
Another popular option is a solar Power Purchase Agreement (PPA), which may also be referred to as a solar lease. With a PPA, you will pay a fixed amount for the electricity generated by your panels, but you won’t own the actual solar panels or system components.
Momentum Solar Is Essex County’s Leading Solar Installer
For the majority of homeowners, solar panels are a very smart investment that will save you thousands of dollars over the lifetime of your system. To get an idea of exactly how much you will save, please contact our Essex County solar installers today. We offer a free consultation to all new customers, during which you’ll get a customized quote for your solar system. Our team can also help you understand which solar financing option is right for you and how much money you can expect to save with your solar panels.
Our team has been installing solar panels in Essex County for many years. All of our panels have been given a Tier 1 quality rating and are backed by our comprehensive 25-year warrantee. When you choose Momentum Solar, you can rest assured that your solar panels will save you the maximum amount of money over their lifespan. Contact us today to schedule your free consultation and learn more about the cost savings of solar!
This customer’s bill is estimated to be $150 lower than the previous bill.
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