Infinity Energy’s: Solar Power System Installation Services
Bergen County, NJ residents deserve the best energy options to power their homes. Infinity Energy provides stellar NJ solar power options. We’re proud to offer easily accessible, cost-effective renewable energy solutions for your homes. Our local solar installers will help you reduce your carbon footprint and lower your electric bill by customizing your solar energy system. Infinity Energy combines solar, software, and storage for the perfect energy-saving combination.
New Jersey Solar Incentives
New Jersey offers multiple solar energy rebates and tax credits for getting solar panels Bergen County. The solar Investment Tax Credit (ITC) states that solar panel installations allow you to deduct 30% of the cost from your taxes. Further, there is net metering that compensates for excess generated solar electricity at the retail rate. The Solar Renewable Energy Credit (SREC) is another program that aims to achieve 50% of New Jersey’s electricity from renewable sources by the year 2030.
What Solar Services Does Infinity Energy Offer?
Infinity Energy is committed to offering the best solar systems in the area. Our solar energy solutions include:
- Residential & Commercial Solar Services– Your customized, unique energy system is designed with battery storage, solar panels, and software fit for your needs.
- Solar Incentives– Our knowledgeable team will help you take advantage of solar power incentives and rebates in New Jersey.
- Roofing Services– Infinity Roofing services Bergen County NJ homeowners who need roof replacements and new roof installations.
Why Choose Infinity Energy?
Infinity Energy is passionate about helping you save money and energy with our residential solar panel systems. Our fantastic warranty plans and flexible financing options help customers reap the solar power rewards. We’ll help you find the best local Bergen County solar panel system options that fit the requirements of your home or business. Our certified professionals are here to help you lower your electric bill to almost zero!
Is Installing Solar Panels in New Jersey Worth It?
Absolutely, installing solar panels in New Jersey can be a smart investment. Here’s why:
Financial Benefits
- Cut Down on Electricity Costs: Solar panels can significantly reduce your monthly electric bill. By generating your own energy, you rely less on the grid, which means lower expenses each month.
- Potential Additional Income: Through net metering, you can sell excess solar energy back to the power grid, potentially earning you extra income. This is a statewide program that encourages solar energy production by compensating homeowners for surplus power generation.
Environmental Impact
- Lower Carbon Footprint: Utilizing solar power reduces your reliance on fossil fuels, helping to decrease your overall carbon emissions. This is not only beneficial for the environment but also aligns with growing eco-friendly consumer trends.
State Incentives
New Jersey offers a variety of incentives to make solar energy more appealing:
- Solar Renewable Energy Certificates (SRECs): These allow solar system owners to earn credits for every 1,000 kWh their system produces. These credits can then be sold, providing additional financial benefits.
- Federal and State Tax Credits: Homeowners can take advantage of tax credits that can help offset the initial installation costs.
Given these compelling advantages, the decision to install solar panels in New Jersey is not just about immediate costs but involves looking at long-term savings, environmental benefits, and state-supported incentives that enhance the overall value of this investment.
How New Jersey’s Property Tax Exemption Boosts Home Value with Solar Installations
New Jersey provides a unique property tax exemption for homeowners who install solar panels. This incentive allows you to enhance your home’s market value significantly without the worry of an increase in property taxes. Here’s how it works:
- Increase in Home Value:
Installing solar panels can make your property more attractive to potential buyers, thus raising its overall market value. Homes with solar installations are often seen as modern and energy-efficient, a key selling point for environmentally conscious buyers. - No Tax Burden:
Despite the potential increase in home value, New Jersey’s property tax exemption ensures that any value added due to solar installation does not lead to an increase in property taxes. This means you enjoy the financial benefits of a more valuable home while keeping tax expenses stable. - Cost Savings and Environmental Impact:
Beyond the tax benefits, solar panels can reduce your energy bills significantly and lessen your carbon footprint, making them not just a financially sound decision, but an environmentally responsible choice as well.
This combination of increased home value, stable tax obligations, and energy savings makes solar panel installations an appealing investment for New Jersey homeowners.
Understanding Transition Renewable Energy Certificates (TRECs) and Their Benefits for Homeowners
Transition Renewable Energy Certificates, commonly referred to as TRECs, are an innovative way to support and encourage the production of solar energy. These certificates serve as incentives, essentially acting as solar rebates, rewarding homeowners for generating clean energy.
How TRECs Work:
- Incentivize Solar Production: TRECs are awarded to homeowners who produce solar energy, providing a financial boost for each unit of energy generated.
- Tradeable Commodities: These certificates can be sold or traded, allowing homeowners to earn additional income from their solar investments.
- Encouragement for Green Energy Adoption: By reducing the initial costs associated with installing solar panels, TRECs make it more appealing for homeowners to switch to renewable energy sources.
Benefits for Homeowners:
- Financial Savings: Homeowners can significantly lower their energy bills by generating their own power through solar panels and benefit financially through the sale or trade of TRECs.
- Environmental Impact: Utilizing solar energy reduces a home’s carbon footprint, contributing to environmental conservation and sustainability efforts.
- Increased Property Value: Homes equipped with solar panels are often more attractive to buyers, potentially boosting property values.
By capitalizing on TRECs, homeowners not only support the transition to renewable energy but also enjoy financial and environmental benefits. They’re a worthwhile consideration for anyone looking to embrace a more sustainable lifestyle while making savvy financial decisions.
How Does the SREC Registration Program Benefit Businesses Using Solar Panels in New Jersey?
Switching to solar power can be a strategic move for businesses in New Jersey, thanks to the Solar Renewable Energy Certificate (SREC) Registration Program. This program offers compelling financial incentives that can significantly impact a company’s bottom line.
- Generate Revenue Through SRECs: Businesses that install solar panels can earn an SREC for every 1,000 kilowatt-hours (kWh) of electricity generated. These certificates can be sold on the SREC Tracking System, providing a profitable revenue stream.
- Long-Term Financial Benefits: The SREC program guarantees specific revenue gains for at least the first 15 years of a solar project. This long-term benefit ensures that businesses can count on a steady income from their solar investments, enhancing financial planning and stability.
- Offset Energy Costs: By participating in the SREC program, businesses not only generate additional income but also reduce their electricity expenses. Producing clean energy helps offset the costs of purchased electricity, leading to lower utility bills.
- Contribution to Sustainability Goals: Apart from financial benefits, enrolling in the SREC program showcases a commitment to sustainability. Businesses can enhance their reputation and meet corporate social responsibility objectives by reducing their carbon footprint.
In summary, the SREC Registration Program offers a dual advantage for New Jersey businesses: financial savings and support for sustainable practices, making solar panel installation an attractive investment.
Commercial Solar Panel Installation Costs and Savings in New Jersey
Installing solar panels for businesses in New Jersey comes with both costs and savings worth considering. On average, the cost to install a 5kW solar system is slightly above $18,750. However, businesses can benefit from incentives and rebates, which can offer savings of over $7,500, reducing the initial investment significantly.
Monthly Savings and Long-term Benefits:
- Monthly Utility Savings: By switching to solar energy, businesses typically see an average reduction of $78 on their monthly electricity bills.
- Long-term Financial Gains: Over a span of 20 years, these savings can accumulate to generate substantial profit, as the reduction in utility costs offsets the initial outlay of the system installation.
New Jersey offers a favorable environment for solar energy adoption by businesses, balancing initial expenses with incentives and significant financial returns over time.
How Many Solar Panels Does a Typical New Jersey Home Need?
Determining the right number of solar panels for a New Jersey home involves a few key factors. Here’s a comprehensive breakdown:
- Energy Consumption: Start by looking at your monthly energy bills. A typical New Jersey household consumes roughly 691 kWh per month. This figure can vary based on the size of the home and the number of occupants.
- Panel Efficiency: Different solar panels have varying levels of efficiency. More efficient panels, like those from SunPower or LG, can produce more energy in less space. If you select high-efficiency panels, you might need fewer to meet your energy needs.
- Sunlight Exposure: New Jersey enjoys about 206 sunny days annually. However, the amount of sunlight your home receives can be affected by factors like tree cover or surrounding buildings. An installer can assess your roof’s sun exposure to estimate how many panels you’d need.
- System Size: To calculate the approximate number of panels, divide your monthly energy consumption by the solar system size. Most homes in New Jersey opt for a system size between 5 kW to 10 kW. A 5kW system typically requires about 20 panels, assuming each panel is around 250 watts.
- Budget Constraints: Your budget might influence the type of panels you choose, as higher efficiency panels often come with a higher price tag but may reduce the number you’ll need.
An experienced solar installer can conduct an on-site evaluation to provide a tailored estimate, ensuring the setup aligns perfectly with your home’s unique characteristics and your energy goals.
When a homeowner in New Jersey decides to sell their house, the ownership of Solar Renewable Energy Certificates (SRECs) can be transferred to the new buyer. Here’s how it works:
- Transfer of Ownership: The existing homeowner can pass on the solar system and its associated SRECs to the new property owner. This is an essential step to ensure all benefits continue with the system.
- Necessary Paperwork: Both the seller and the buyer are required to complete specific paperwork through the PJM-EIS Generation Attribute Tracking System. This system is critical for formally transferring ownership of the solar system and the SRECs.
- Benefits to the Buyer: By acquiring the solar system and SRECs, the new homeowner can enjoy ongoing financial benefits, such as energy savings and potential income from selling the SRECs.
By successfully completing these steps, the new homeowner can seamlessly take advantage of the solar system’s benefits without interruption.
How Did New Jersey Become a Top Solar Producer in the US?
New Jersey’s rise as a leading solar producer in the United States is primarily attributed to strategic initiatives and supportive regulations that have catalyzed solar energy growth.
Key Initiatives and Regulations:
- Long-standing Clean Energy Program: Initiated in 2001, the state implemented a comprehensive clean energy program aimed at boosting solar energy production. This program strategically increased the amount of solar power integrated into the state’s energy mix each year.
- Solar Renewable Energy Certificates (SRECs): The introduction of SRECs has played a vital role. These certificates allow solar panel owners to earn credits for generating solar energy, which can then be sold, providing a financial return on investment.
- Net Metering Standards: New Jersey adopted strong net metering standards that incentivize residents to invest in solar panels. These standards ensure that home and business owners see tangible benefits, such as reduced utility bills, by allowing them to receive credits for the excess energy their systems generate and feed back into the grid.
By creating a favorable economic climate for solar investments and laying down a solid infrastructure for renewable energy, New Jersey has firmly positioned itself at the forefront of solar energy production in the nation.