New Jersey Solar Incentives - How Reduce the Cost of Going Solar

New Jersey is one of the friendliest states for rooftop solar and home to perhaps the best solar incentive in the entire country. Sam breaks down how to combine solar incentives to reduce the cost of your system by 64% and save enough money in electricity costs to put your get through Princeton.
Visit www.solar.com/... to learn more about going solar or to compare binding quotes on a custom solar project.
Chapters
0:00
1:15 New Jersey solar incentives
2:35 New Jersey Successor Solar Incentive Program (SuSI)
4:10 How to reduce your solar costs by 64%
5:25 NJ solar sales and property tax exemptions
6:33 Net metering in New Jersey
7:23 How much does electricity cost in New Jersey?
9:31 Solar versus grid electricity in New Jersey
10:35 Benefits of home solar
11:40 3 keys to a successful solar installation

[@Asmo2]

Really helpful information, thank you

[@marcuschauca9543]

Great video. Thanks for sharing. If and when net metering goes away in NJ. The people who have it, do you think they’ll be grandfathered in for life? How did it work in Cali? I know they’re up to net 3.0

[@solardotcom]

Great question! Based on how things have gone in other states, there's a high probability that NJ solar owners will be grandfathered into their existing net metering policy if the state transitions to a new solar compensation structure. In California, the system is grandfathered for 20 years from its interconnection date. After 20 years, it transitions to whatever the current billing structure is at that time. Utilities and the PUC boards that regulate them tend to copy & paste policies when they can, so I would expect other states' net metering transitions to resemble California's.

[@marcochavezjr9180]

One question. The $680 a year do you add that on to the 30% federal tax credit? For example the $10,500 and 680 together which is $11,180. But I thought they only had the federal tax $10,500 for only the first year of them doing their taxes, so does that mean after the first year they can only use $680 for their taxes afterwards? I'm pretty much just confused over the Susi part. Please answer back when you can as soon as possible thanks!

[@solardotcom]

Understand the confusion -- there's a lot going on. The 30% tax credit is claimed ONE TIME on your federal tax return for the year the system was installed -- it's completely separate from SuSI. Through SuSI, you can earn money by selling SREC's (renewable energy certificates) on a marketplace -- kind of like stock. Those SRECs represented 1,000 kWh of solar generation. They are earned over time and can be paid out in a few ways. These incentives don't interact. They're claimed separately -- but both of them can drastically reduce the cost of going solar in NJ!

[@shahbazahmed6968]

who is selling a 6.5 Kw system in $30,000 - it cost only 8 to $10000.