Overall setup costs for solar panel systems in New Jersey and parts of the US has declined significantly over the last few years. The sharp decline in the price and installation cost is mostly due to increased demand, competition between solar panel companies and the growth of several independent vendors.
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Below you will find a compilation of the top reasons to go for solar panel system:
- Free Electricity
If you live in New Jersey, you are aware of the fact that sunshine is plentiful. Generate enough electricity to run all the equipment in a residential building because it is very possible. After taking into account the government rebate, the final retail cost of residential solar panel systems is an only one-time investment you need to make. After that, you can continue to use electricity 'free' for the next one or two decades.
- Increase the value of the home
The house, equipped with a solar power generation system is likely to be higher prices and sell faster in the market. According to a recent survey, every dollar saved per year on utility bills by installing solar panel systems transformation into healthy savings. Even if the solar panel system helps you to reduce your monthly electric bill, you can increase your home equity.
- Avail tax credits and incentives
Homeowners in New Jersey can avail government rebates and incentives by opting for solar power solutions. The government offers such benefits in order to motivate people to install solar panel systems.
Renewable energy sources like solar power are here to stay and therefore, a number of governments all over the globe are providing government rebate and subsidies to their citizens and business owners.