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Re: Solar Panel Installation
#7
Home away from home
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Quote:

soaringswine1 wrote:
Our condo board is interested in installing solar panels on our roof.

Would anyone have a good recommendation?

Thanks


There are no rebates for solar in NJ. Your install would be entirely dependent on SREC payments in order to get anywhere near a reasonable return on investment. The price paid per SREC used to be upwards of $600 per MW. It is a lot lower now.

http://www.njcleanenergy.com/srecpricing

How big of a condo? (units, sqft of roof, etc.)

Posted on: 5/1 8:01
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Solar Panel Installation
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Our condo board is interested in installing solar panels on our roof.

Would anyone have a good recommendation?

Thanks

Posted on: 4/30 22:12
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Re: solar panels?
#5
Just can't stay away
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Thank you all for giving me more to think about.

Rebecca

Posted on: 2014/8/5 16:03
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Re: solar panels?
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Agree with shakatah. All the incentives mentioned (CERTS, 30% refund from fed, PSEG credit) were the selling point for us. Besides ones mentioned below, solar panels are exempt from sales and property tax but the value of my house went up quite a bit. I rent one apt so it's also a big incentive for tenants.

Posted on: 2014/8/4 13:01
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Re: solar panels?
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RebeccaS wrote:
Hi, I'm wondering if anyone has gotten solar panels for their home in JC? We're considering it and have talked with one company that would lease the panels to us but would like more information.

Thank you,

Rebecca


If you are going Solar, leases are not a great option. You are essentially paying the solar company to put holes in your roof and install money making (tax credits, SREC's, energy production) equipment while they keep all the revenue. The reduced electricity rates you get are laughable. Adding insult to injury, if you have to sell your place before the lease is up and the buyer does not want the same arrangement, you are in a pickle.

I used Trinity Solar for my last purchase and installation. There were glitches but it all worked out in the end. I'd likely use them again. At the time I received a quote for purchase and one for lease. The quotes were not that far apart after tax credits, SREC's, and PSEG credits for producing energy were factored in. I also timed the installation toward the end of the tax year and filed my taxes as soon as I could so that I got my federal tax credit less than two months after paying for the installation.

Advice: Purchase the solar panels and get the 30% federal tax credit, sell the SREC's and keep that cash, the energy produced by the panels will offset your utility bill, its a nice feature if you need to sell (may add value or be very attractive to certain buyers) and there will be no lease to complicate things.


Do the math, solar leases are a boon for solar companies. They make so much money from solar leases, they should be paying homeowners to use their roof.




Posted on: 2014/8/4 12:37
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Re: solar panels?
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Hi Rebecca,

Our panels on two family house went online in June. PM me and I'll send you some info and address to take a look at the finished product. I live in Lafayette as well.

Posted on: 2014/8/4 12:36
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solar panels?
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Hi, I'm wondering if anyone has gotten solar panels for their home in JC? We're considering it and have talked with one company that would lease the panels to us but would like more information.

Thank you,

Rebecca

Posted on: 2014/8/4 10:24
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