Earn 15 Years Cash From Your New Jersey Solar Home!

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http://cleantechnica.com/2010/08/15/earn-15-years-cash-from-your-new-jersey-solar-home/

Did you know that you can put solar on your roof in New Jersey, and earn actual cash for 15 years for doing so? Even though you’ll also get to use that clean power you make – because you can stop paying electric utility bills (that average 17 cents a kWh in the state) yet your solar home earns money for producing electricity. You get to have your cake and eat it too.


The money you can earn comes through legislation akin to the remarkable Feed-in Tariffs that shot Germany and Spain to solar leadership. You earn the money for sending clean sunshine power to the grid with Solar Renewable Energy Credits (SRECs).

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Here’s how it works.

New Jersey utilities have to add a certain amount of renewable energy every year to the grid to meet a Renewable Portfolio Standard (RPS), like the utilities in more than half the states now. In New Jersey’s case, some solar is a requirement. They must get over 200 MW of solar power onto the grid, or 3 percent of the energy they sell by 2020 (and that rises to 5 percent by 2026).

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