New Jersey Solar Program Aims To Save Millions
Updated July 6, 2024 | 4 min read
In the later half of 2022, The Biden-Harris Administration and the Department of Energy (DOE) launched new solar initiatives to connect more families to reliable clean energy in efforts to reduce electric bills and create more jobs. The Community Solar Subscription Platform started exclusively in 5 states + Washington, D.C.; New Jersey, New York, Colorado, New Mexico, and Illinois. This program will aid solar incentive programs for these states, including low income assistance and is projected to create $1 billion in energy savings by 2025! More specifically, $175 million in New Jersey.
NJ Governor Phil Murphy said "Through our participation in the Community Solar Subscription Platform project, New Jersey is helping families across the state reduce energy costs…. It’s crucial collaborations like these that will help us provide every community member with ample opportunities to reap the benefits of a clean energy future.”
New Jersey residents can now qualify for several different solar incentives!
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Do I Qualify?
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New Jersey Community Solar Subscription Program
The Department of Health and Human Services will partner with the DOE to help develop this platform for New Jersey residents, starting with assistance to low-income houses to reduce solar acquisition costs and energy bills. As this tool is being developed, New Jersey is providing feedback and resources to help improve this platform for the rest of the US. This partnership and initiative is expected to create many new solar energy jobs, reduce solar installations costs, and save millions of dollars in energy costs for NJ homeowners.
Is Solar Worth It In New Jersey?
In 2022, the average electricity bill in New Jersey was over $108 dollars! And this figures is predicted to increase as oil prices and logistics become more complicated in 2023. Many home and business owners have already invested in solar panels in New Jersey. In Fact, there is enough solar energy systems installed in NJ to power over 680,000 homes. Additionally, The Garden State has plenty of sunlight in all of its seasons to power solar your home, receiving over 200+ sunny days per year on average. NJ is also one of the only states to offer sales and property tax exemptions to incentives residents to switch to solar. In combination with the federal solar tax credit being extended in 2022, now is a great time to make the switch to solar for New Jersey home and business owners.
Enter your zip code to see what solar incentives you qualify for!
Do I Qualify?
Please enter a zip code
The Cost of Solar Panels in New Jersey
As with all good technology, the durability and efficiency of solar panels has improved 10x in recent years. Fortunately, the overall costs of solar energy systems has decreased over 50% in the last 10 years. New Jersey residents pay about $3.00 per watt and around $15,000 for a complete home solar energy system. New Jersey also has more solar incentives and tax breaks than most other states. Depending on your situation, you could benefit from sales, tax exemptions, property tax exemptions, The Clean Energy Tax Credit, Solar Renewable Energy Credits (SREC), and more. If you are interested in going solar in NJ, for less. Speak to a NJ solar expert today to learn your options and see what incentives your home or business qualify for.
Do you live in New Jersey? See How Much You Could Save with Solar Energy!
