Solar Benefits
- How much does the average solar electric (PV) system cost?
- The price of a solar electric system depends on many factors, including the size of your building, the amount of energy you consume on a monthly basis, and the climate in which you live. To estimate how much a solar system will cost you, contact a Star Installations representative.
- What is the federal tax credit?
- The Federal Tax Credit for PV systems is part of the Energy Policy Act of 2005. It allows individuals to claim a federal tax credit or grant of 30% of the value of the PV system. For businesses and residences, there is no cap meaning a business or a residence can claim a federal tax credit or grant of 30% of the value of the PV system.
- What is REIP?
- The Renewable Energy Incentive Program (REIP) provides incentives that reduce the upfront cost of installing renewable energy systems, including solar, wind, and sustainable biomass. Incentives vary depending upon technology, system size, and building type.
- What if my solar system produced more electricity than I use?
- If your utility offers a net metering program, the electricity your solar system generates will offset your bill from the power company, and if you generate more electricity than you use, this electricity is then fed back into the grid and you receive a credit that you can apply towards your future electric bills within the same year.
- Do I have to pay property tax on my new PV system if it increases the value
of my house?
- In New Jersey, and in other solar-friendly states, you do not have to pay property tax on your solar system, but you do get to claim to value the solar system ads to your house.
