Solar, in the Long term and short term, makes sense.
SRECs deliver high returns but programs are available for long-term stability.
Create your own electricity.
The Taub Family live by the phrase “The Early Bird gets the worm.” As an early adopter of solar, the Taubs have been producing their own electricity since towards the end of 2011. The worm, in this case, has really paid off for them, as they have produced over $8,000 worth of electricity during that period.
Due to the incentives and the programs they enrolled in through PowerLutions Solar, a leading NABCEP certified Solar Installation Company based in Lakewood, New Jersey, they broke even a couple of years ago.
Incentives and programs change but solar has made “cents” for several years now. “As the market has matured, the finance and lease options have really matured along with them,” Cy Yablonsky, Vice President of PowerLutions Solar, said.
“The Taubs came in early and took advantage of the incentives and programs we had at the time,” Yablonsky continued, “but the Solar Industry is a constantly evolving industry and the different mechanisms to put solar on your roof also changes. We have been very successful at navigating the available options for our customers to deliver maximum value. With so many ways to spend money it’s nice to have a way to save a substantial amount of money on a continual basis.”
Although electricity is the obvious benefit of solar energy, there are other incentives like tax credits and SRECs. SRECs, or Solar Renewable Energy Certificates, are New Jersey’s mechanism to incentivize solar in the State. It can be a very lucrative incentive. Every 1,000 kWh of electricity, that a New Jersey solar system produces, earns one certificate. These certificates can be sold, usually through third party SREC brokers, to energy producers who are required to produce clean energy. They are able to use these SRECs in lieu of producing their own clean energy. Every solar PV system produces 15 years of SRECs. New York State is rebate-based.
SREC prices fluctuate over time but PowerLutions Solar has different ways to stabilize the value paid to the customer over the ENTIRE 15 years. Through their leasing program; the leasing company takes the value of the SRECs to give a very low price on the lease. Through the finance program; the finance company gives a set value, that does NOT fluctuate, over the entire 15 years. Additionally, PowerLutions is able to deliver a 15 year value with a cash purchase.
PowerLutions Solar has been especially adept to customizing the best solution for each specific customer in New Jersey and New York. There are still worms out there for the picking, bon appetit!