SolarEdge in NJ

Single-Family Residence - August 2014

Posted by:

martin

Teach your family about clean energy

Quick Facts

Average Annual Savings

$1,400

Energy Needs Met

75% to 99%

of electricity

Net Investment

$7,300

Return on Investment

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

Products:: SolarEdge Technologies; Trina Solar
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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