NJ Solar Power, LLC
1 Pelican Drive, Suite 6
Bayville, NJ 08721
(tel) 877.765.2763/732.269.0308
(fax) 732.269.5462 |
NJR Home Services Solar Program FAQs
What is solar?
Solar is a renewable form of energy that produces power from sunlight. Panels are placed on a rooftop to capture sunlight and convert it to electricity for use in the home.
What happens on a cloudy or rainy day with no sunlight?
The panels will produce electricity but it will be very limited depending on how much light can get through the cloud layers. Homeowners with solar power will still be able to use traditional electricity from their local provider just as they did before the solar equipment was installed.
Will solar panels produce the same amount of electricity all year long?
The amount of electricity produced will vary with the seasons as the angle of the sun changes from summer to winter. In the winter the sun angle is low in the southern sky so the amount of sunlight reaching the panels is less. In the summer with a high sun angle the panels produce more electricity.
What is NJR Home Services (NJRHS) offering?
NJRHS is eliminating the hassle and high cost of solar by providing homeowners the opportunity to lease solar equipment with no up front installation or maintenance costs.
What is the cost of this offer?
Customers will be charged approximately $52 per month for a six kilowatt system over a 20-yearperiod. That monthly rate is fixed over the life of the lease and includes all installation and maintenance costs. It does not change based on the amount of electricity your system generates.
What are the potential savings?
The solar technology is estimated to save homeowners up to approximately $100 a month on electricity costs (based on today’s electricity prices and typical homeowner electricity consumption patterns). Customers begin to realize these savings immediately following the activation of the interconnect switch of the system to electric utility’s meter.
What is an interconnection switch?
This is the switch that separates the solar panel system from the electric grid. It cannot be activated until your local utility company provides authorization to the contractor that the electric meter is set up for net metering.
What is net metering?
Net metering may also be referred to as a two way meter. A net meter and a solar net metering policy allow customers to reap the full benefits of a solar system. When solar panels are installed, the local utility replaces the existing electric meter with a net meter. Whenever the solar system makes more electricity than a home is consuming, the net meter spins backwards. The unused electricity goes back into the grid and the customer receives credit for that electricity. The meter spins forward when the solar system isn't fully meeting a home’s electricity needs but is using power from the grid. This is more likely to occur at night and during parts of winter. A net meter tracks how much electricity your home pulls out of the power grid during the year and how much power your solar electric system puts into the grid. At the end of the year, the utility calculates your "electricity balance" and any credit or debit will be applied by the utility toy our account.
Who is eligible?
During the first phase of this program, NJRHS is looking for 100 homeowners who would be interested in leasing solar equipment. In order to be eligible, a home must have a south facing roof in order to draw maximum exposure from the sun (southeast to southwest facing roofs maybe acceptable). Additionally, the roof area must be clear of shading from trees or other structures. Lastly, the roof should be no more than five years old so that the life of the lease coincides with the average life of a roof. (Should the program continue beyond the first phase, this requirement could change.)
What if a customer sells their house before the leases ends?
The customer will transfer the lease to the new homeowner, the new homeowner will then continue the lease and receive the benefits of the solar system.
What happens when the lease ends?
When the lease expires, a customer has several options; including- The customer will have the option to purchase the system for the then current appraised value.- The customer can choose to purchase the electricity from the panels based on a per kilowatt price determined by NJRHS at the end of the legionnaire Home Services is not the same company as New Jersey Natural Gas, the utility, and is not regulated by the New Jersey Board of Public Utilities. You do not have to buy products or services from NJR Home Services in order to continue receiving regulated services from New Jersey Natural Gas.
How will a solar system affect the value of my home?
Having a solar system on your home may increase its resale value as the potential savings derived by a new homeowner can be a very attractive selling point.
How will a solar system affect my property taxes?
Under Title 54 of the current New Jersey tax regulations your home may be exempt from increased property taxes due to the installation of a renewable energy system:54:4-3.113b – Certified renewable energy system; exemption; amount.“Property that has been certified by a local enforcing agency as a renewable energy system shall be exempt from taxation under chapter 4 of Title 54 of the Revised Statutes. The owner of real property which is equipped with a certified renewable energy system may have exempted annually from the assessed valuation of the real property a sum equal to the assessed valuation of the real property with the renewable energy system included, minus the assessed valuation of the real property without the renewable energy system included.”This policy is subject to change.
Do customers qualify for any state or federal rebates or tax incentives?Because NJRHS owns the solar system, NJRHS will realize the rebates and/or incentives applicable to the solar panels. Customers benefit from the lack of up front costs, which are typically tens of thousands of dollars, and receive savings derived from the renewable energy generated, estimated at up to about $100 per month based on today’s energy prices and typical homeowner electricity consumption patterns, beginning immediately following the activation oft he solar system.
Do customers receive solar renewable energy credits (SRECs) from the electricity that is generated?
Similar to the state and federal rebates, NJRHS will own any SRECs related to the solar panels because the company owns the system. Customers’ monthly payment of approximately $52 per month will remain unchanged for the life of the lease regardless of the quantity of SRECs generated.
NJR Home Services is not the same company as New Jersey Natural Gas, the utility, and is not regulated by the New Jersey Board of Public Utilities. You do not have to buy products or services from NJR Home Services
in order to continue receiving regulated services from New Jersey Natural Gas.
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