How much does it cost?
The answer is - "it depends".
If you are purchasing the system outright, then the costs below
would apply. However, many of our residential clients are eligible
for 'Free' systems where the system is installed on their home and
they just pay for the electricity at a substantially reduced price
from what they are paying today.
The table below assumes a straight purchase scenario.
While exact costs will vary depending on the specific conditions
of your home, here is what a typical residential system in New
Jersey could cost:
| System Size |
6 kW |
| System Production, kilowatt-hours |
6,900 kWhrs |
Annual Electric Savings
($0.18/kw electric rate) |
$1,242 |
Annual SREC Income
(conservative $300/SREC) |
$2,070 |
| Total Annual Income |
$3,312 |
| Cost of system |
$33,000 |
| Less 30% Federal Tax Credit |
$9,900 |
| Cost after tax credit |
$23,100 |