Solar Panel Solutions in New Jersey
About Solar Panels
Solar panels have been in use since the late 1800’s. Although, they have not always been as efficient as they are today. William Grylls Adams and Richard Day discovered that the element selenium would produce energy when it absorbed light. It would take until the 1950’s for silicon to be introduced to solar powered cells in large enough quantities to power small devices. This addition made solar power more efficient, consistent, and affordable than ever before – and we have not looked back since.
Installing solar panels on your home or business is a great way to offset the cost of electricity. Not only can you get free electricity, you may even be able to get a check for what you produce!
Not only will you save money and see a difference in your electric bill, but you will also be making a positive impact on the world around you. Solar power is one of the fastest growing forms of renewable energy in the world. Your energy contributions help eliminate the need for things like coal, gas, and oil.
How do Solar Panels work?
Solar panels are actually collections of smaller units of Photovoltaic cells that allow photons to create a flow of electricity by separating electrons from atoms. More simply put, solar panels convert sunlight into electricity.
How do I make money using solar panels?
Installing a solar panel system can be expensive. But, there is good news! The state of New Jersey is currently offering an incentive program to individuals to make the move to solar power. The incentive is called the Solar Renewable Energy Credit, or SREC for short. SRECs stand to make their holders–that’s you!– approximately $1,000 per year, each year, until 2030.
In 2004 a program was adopted to promote the use of SRECs to the help meet the goal of 22.5% renewable energy by 2021. In 2011, 306,000 SRECs were purchased – by 2026 that number needs to grow to more than 5,000,000! The state of New Jersey requires that energy companies, or load serving entities, purchase a percentage of their power from solar sources. This means that the energy companies in our state are REQUIRED to buy solar power every year.