7 Fun Facts About Solar Energy in New Jersey

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Check out some fun facts about solar energy in NJ! Knowing more about solar power can help you decide if it’s suitable for your property. You can also make the best decision about when to schedule solar installation for your home or business. There's no better time than the present to go solar in New Jersey.

1. New Jersey is sunnier than you might expect!

New Jersey enjoys over 200 sunny days annually and about 2500 hours of sunlight annually. In turn, it’s an excellent spot for solar panels! It’s one of the sunniest states in the northeast. Remember this fact if you assumed that New Jersey just wasn’t bright enough to justify a solar installation.

2. Solar means excellent cost savings for residents

Some studies estimate that a solar installation can reduce a homeowner’s energy costs by 83%. Consider what that might mean for your property. You would see an $83 reduction for every $100 you spend on power currently!

Also, consider these savings over time. For example, if your average electric bill is only $100 per month, you will save just under $1000 every year. That’s $10,000 every ten years and $20,000 every 20 years! This cost savings is one primary reason why so many choose to go solar in New Jersey.

3. Check out the state’s solar rank!

Did you know New Jersey ranks 8th in the country for solar power? This is because so many property owners are eager to take advantage of clean, green solar energy for their property. Also, consider that the solar industry has grown tremendously over the past few years and is poised for even more growth in the future.

4. Solar creates more jobs

When listing all the benefits of solar power, property owners often overlook the jobs created by solar installations! In 2022, the solar industry created over 5300 jobs. Also, remember that you cannot outsource jobs such as solar array design and installation. In turn, solar helps boost the local economy.

5. The state is committed to solar power

In 2022, solar accounted for just over 6% of the state’s electricity. However, the state has committed to increasing this number to 50% by 2050. This commitment includes building more solar farms and exploring added financial incentives for property owners looking to go solar.

6. The state offers some significant tax breaks for solar

Solar installation typically increases property values by about 4% or more. For area homeowners, this typically translates into a $6000 increase in their home’s values. However, the state has waived the increased property taxes that usually come with such an increase! If your property values go up after a solar installation, you can build equity faster and sell for more money but still pay taxes based on the previous value of your home.

7. Federal tax credits apply to New Jersey solar as well!

The 2022 Inflation Reduction Act increased and extended federal tax credits for solar power. Under this provision, a property owner can claim 30% of their solar costs as a credit on their federal taxes from the year of installation until 2033. In other words, if you spend $10,000 on a solar installation in 2023, you can claim a $3000 deduction on your tax returns that year.

Does solar energy make sense in New Jersey?

Even after reviewing these facts about solar, you might be wondering if the investment is worth it for your property. The short answer is yes, solar is an excellent choice for any home or business! Keep reading to learn more about why you should consider going solar:

• Electric power plants produce tons of pollutants every year. These pollutants include toxic gases and poisonous metals. On the other hand, solar panels have clean energy without fumes or emissions.
• Manufacturers improve solar panel efficiency regularly! You can expect your panels to work for decades before needing replacement.
• The money you save with solar power is a great incentive to consider an installation on your property. Imagine reducing energy costs by 83% or even more over the years. Of course, once your panels pay for themselves with these savings, that’s just money in your pocket.
• Never overlook the local jobs produced by solar power. Designing and installing an array and recycling panels are labor intensive. Investing in solar means investing in your local economy!

Go Solar New Jersey is happy to provide you with these fun facts about solar energy in NJ. Hopefully, you found it informative as well as enjoyable! Call our New Jersey solar installation contractors if you’re ready for clean, green energy on your property. We offer FREE consultations and price quotes and guarantee every installation for quality. To find out more, contact us right now!