Why Go Green Only Once a Year?Posted: March 17, 2016
Today is the day when all of the little things in your life are green – shirts, bagels, jewelry, beer. Tomorrow, the majority of the world will go back to their everyday life, but not us. Every day is green for us!
Installing solar panels is one of the best ways to go green. There are obviously many factors which need to be taken into consideration when designing a solar panel system, but in general, a typical installation can save an owner 50-70% of their annual electric bill!
Then there are the tax incentives! There is a 30% federal tax credit available on the cost of the entire system, state sales tax exemptions for the equipment and exemptions from municipal property tax on the increased property value.
How does it work?
Every time a solar installation generates 1,000 kilowatt-hours (kWh) of electricity, an SREC is earned. Solar project owners report the energy production to the SREC Tracking System. This reporting allows SREC’s to be placed in the customer’s electronic account. SRECs can then be sold on the SREC Tracking System. The NJ SREC rate has been hovering between $275 and $300 this month, with today’s rate at $285.
As nice as it is to eat green shamrock sugar cookies, and drink green Guinness, wouldn’t it feel nicer to have some green in your pocket?