Save Money with New Jersey SRECs!
If you’re like many homeowners in New Jersey, you may be wondering about how you can start using solar panels to not only reduce your carbon footprint, but also lower your electric bills.
There has never been a better time to invest in solar panels for your home, as a number of federal and state programs exist to cut the cost of installing and operating a solar panel system. There is a Residential Renewable Energy Tax Credit offered by the federal government that will give homeowners 30 percent of the cost of their new system either as a tax credit or cash grant.
The state of New Jersey’s Clean Energy Program will also give homeowners a Solar Renewable Energy Certificate (SREC) for every 1,000 kilowatt hours it generates over the next 15 years. SRECs can be sold or traded, adding more value to home solar panels.
SRECs are used to register solar power projects in the state, and owners must register prior to beginning construction. After construction is finished, the Renewable Energy Inventive Program can begin issuing SRECs to homeowners. Using this program also allows you to track how much energy your solar panels are generating online. Credits are deposited into user accounts monthly.
However, the value of SRECs tends to fluctuate slightly every year, so the sooner you act, the more you will receive from the program. Many average home solar panel systems will earn several thousands of dollars in their first year.
Currently, New Jersey residents pay about 45 percent more for their power than the national average, and that number is expected to grow over the next decade. You don’t want to get stuck paying these sky-high prices, and adding solar panels to your home can help you avoid them.
The experts at Verengo Solar can add solar panels to your home that will reduce your energy costs quickly, and with the great money-saving offers from the state and federal government currently available, it’s cheaper than ever.
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About Verengo Solar
Verengo Inc. has changed the way America thinks about solar! Verengo ranked #1 on the Solar Power World list of Top Residential Solar Contractors in the U.S.1, has been named to Inc. Magazine’s List of America’s Fastest Growing Companies and consistently maintains an A+ rating with the Better Business Bureau. The company markets, sells and installs solar photovoltaic systems, which enable homeowners to save money on their electricity bills and replace dirty electricity with clean, renewable energy. Verengo has grown 700% over the past 4 years and has added 900 new employees over that period. A recent survey found that 92% of Verengo customers would refer the company to their friends and family. The company has earned this recognition and customer satisfaction by making solar easy and affordable for its customers and delivering superior customer service.
1.Source: Solar Power World. Verengo operates exclusively in the residential solar sector.