$1,400
75% to 99%
of electricity
$7,300
19.2%
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Teach your family about clean energy
$1,400
75% to 99%
of electricity
$7,300
19.2%
Property
- Type:
- Single-Family Residence
- Address:
- Maplewood, NJ 07040
- Size:
- 1,400 sq ft
- Energy need met:
- 75% to 99% of electricity
Technology
- Type:
- Solar PV
- Installed:
- August 2014
- Size of System:
- 6.1 kW
- Purposes:
- To generate electricity
Financial Details
- Gross Cost of System:
- $24,000
- Value of Rebates:
- $9,500
- Value of Tax Credits:
- $7,200
- Net Cost of System:
- $7,300
- Annual Savings:
- $1,400
- Own or Lease:
- Purchase with Loan
- Additional Financial Notes:
- We used the PSE&G (a NJ Utility) Solar Loan Program, which allows the loan to be payed back by revenue from the SRECs the system generates. Essentially, it's a loan that doesn't need to be paid back, and the floor price of the SRECs is locked in.
Professionals & Suppliers
- Installers:
- Green Power Energy
- Financing:
- PSE&G Solar Loan Program
What You Need to Know
Description:
20 305W Trina panels, which are slightly bigger than typical panels, 72-cells instead of 60-cells. Each one has a SolarEdge DC optimizer, which optimizes the power generated from each panel, if for example some are under shade or have leaves on them. This is a cheaper technology than microinverters, and more flexible, as microinverters currently are not made for the higher wattage panels.
My Motivation:
1 - A solid long-term investment, hedging energy prices 2 - We wanted our kids to grow up using and learning about renewable energy
Advice:
It can be intimidating at first, don't rush into anything, learn about what's possible and whether your home or business is suited for Solar PV.
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