Bridgewater residents are becoming increasingly environmentally conscious and are actively seeking ways to positively impact the ecosystem. At the forefront of effective action is going solar. New Jersey is among the leaders in the nation when it comes to installing solar systems.
The process of capturing the sun’s energy and transforming it into power contributes to the environment in a way similar to planting over eight thousand trees over 25 years. In addition to knowing you are making the world a better place, solar energy also produces revenue for the system owner. Going solar really is the best of both worlds. You enjoy the feel-good effect of reducing your carbon footprint while generating revenue and electric savings all at the same time.
There are two conventional ways for homeowners to go solar and both have merit.
Option 1–Purchase
When you purchase a solar system you are essentially buying your future electricity at an affordable fixed cost for the next 25 years. Residential and commercial solar investors enjoy a 2-6 year payback with an annual return on their investment of 12.5%–20%. This is achieved when buyers take advantage of the 26% federal investment tax credit for solar projects. The commercial investor will get a bonus tax advantage as the newly revised federal tax law of 2017 allows the investor to depreciate the entire system in the first year. Investors are also eligible to participate in the NJ Clean Energy SREC/TREC program, which is revenue returned based on what the system annually generates.
Option 2–Lease
If you do not plan to stay put long term, but would like to make an environmental difference and still save money, then a lease is something to consider. Similar to leasing a car, you usually do not put any money down. The leasing company sells the power the solar system generates back to the customer for below-market-rate for 20 years. Solar leases vary in the amount of savings a customer will see each month.
For either option, locally operated Helios Solar Energy is here to help assess your needs, design an efficient solution and ultimately install a system you will be proud to own.
Learn more at heliosnj.com
