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Benefits of Solar Energy

Have you considered solar investment New Jersey? If you have, consider the following benefits of solar energy.

Energy Bills

You can invest in a solar system that provides you with a net-zero energy consumption rate. This means that you will not have to pay another energy bill. Depending on your location and the size of your investment, you can completely eliminate your energy bills. However, if you live in a northern state with obstructions that shadow your system, a larger investment may be necessary to reach net zero. You may also make a smaller investment and cut your bill down significantly.

The best locations do not have obstructions, such as buildings or trees that shade the panel. Also, the panels should be tilted 30-45% and oriented toward the south or south west. However, northern states also receive adequate sunshine. You may also consider panels that track the sun if you want greater efficiency.

Tax Credit

If you purchase and install solar panels on your property, you are eligible for a 26% tax credit. The Solar Investment Tax Credit has been extended, but its benefit will reduce to 22% in 2021 and 10% after 2022. Therefore, you can receive the greatest tax benefit if you purchase your solar energy system in 2020.

Bill Credit

Some power companies offer energy credits if you are hooked into the grid. These companies calculate the amount of energy you produce and subtract the energy you use. Whatever is left over is credited to your bill. You don’t typically get cash payments for these credits, but they do come in handy on cloudy days or during the winter when your energy production is reduced.

Environment

Solar energy is clean energy. Its adoption reduces greenhouse gas emissions caused by fossil fuels, which are used to produce traditional electricity. In addition, electrical plants may cause air and water pollution as they burn coal and natural gas. Traditional electricity generation also requires significant water resources. Solar has none of these requirements.

If you seek to reduce your monthly bills and increase your home’s value, consider investing in solar power.


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