Does Going Solar in IL, NY, PA, NJ, or MD Make Sense? Solar Payback Periods Explained.

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For a solar consultation, reach out to Julian @ (760) 473-5878, or email at Juliansolarguide@gmail.com.
TOP 5 STATES TO GO SOLAR IN 2023
I get a lot of calls and emails from people who are curious if going solar in some of the more northern states still makes sense. The good news is that it actually does because of the way the net metering agreements are structured and the multiple incentives that are offered. I chose the top 5 states to go solar in which include: Maryland, New Jersey, Pennsylvania, New York, and Illinois. All of these states offer a payback period of less than 10 years given somebody is buying the system cash.
If you want to fast forward to your state's solar payback period, please see below:
Solar Payback Period in Maryland - 4:30
Solar Payback Period in Pennsylvania - 7:33
Solar Payback Period in New Jersey - 11:22
Solar Payback Period in New York - 14:20
Solar Payback Period in Illinois - 16:37
The 30% federal tax credit is available in all 50 states and is a direct subtraction from your federal income tax liability.
1:1 net energy metering, or NEM, means that your utility provider actually purchases your excess kWh production for the full retail price and credits you so you can actually by power at night and that credit that was built up in the day. This allows you to bypass the need for a solar battery for self consumption or full backup.
What are SREC's, or State Renewable Energy Credits? SREC's play a big factor in the speed of the payback period or ROI. Solar in Illinois, for example, the SRECS are paid in a lump sum after 1 year of the system being in operation. It is absolutely insane how small the net cost ends up being compared to the gross total. New Jersey SUSI program pays out SREC's for 15 years as well which is amazing. Pennsylvania's SREC market is connected with New Jerseys and is structured similarly.
We have solar panel companies near you. If you're looking to go solar in Illinois, go solar in New York, go solar in New Jersey, go solar in Pennsylvania or go solar in Maryland then please reach out for a solar consultation and we can provide you with a solar quote. We have great solar installers and consultants near you and we'll be able to share with you everything you must know when going solar in your area.
Would you like to get started with a consultation? If so, then please fill out the form in the link below. Once received, my assistant Cody will call you back afterwards to explain next steps in receiving a thorough consultation and quote from us. Thank you for watching the channel.
form.jotform.com/230316991463155
Call (760) 473-5878, or email at Juliansolarguide@gmail.com.

Опубликовано:

8 июл 2024

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Комментарии : 19

@lovestopsfear 7 месяцев назад

I'm David, I work with Julian in NY, CT, and NJ. The incentives in NJ are actually better than in NY (except NYC) but on the other hand, electricity doesn't cost as much as it does in NY. But regardless, they are both fantastic states for solar, and we are seeing huge growth and solar panels popping up left and right. The MW Block program in NY is commonly referred to as the NYSERDA rebate.

@jh0613 9 месяцев назад

for NYC, I am not sure about the MW Block program, but there is a 20% property tax abatement which is applied across four years. Meaning if the 20% property tax abatement is $6000. They reduce your property tax by 1500 for the next four years totally $6000.

@Superiorsolarconsulting 9 месяцев назад

My New York based expert can go over details with you if you’d like. 760-473-5878

@lovestopsfear 7 месяцев назад

The property tax abatement in NYC is now 30% applied across 4 years. The MW Block program is commonly referred to as the NYSERDA rebate which is 20cents per watt. Sometimes this NYSERDA rebate can be lower than 20cents per watt when the house is somewhat shaded or the architecture doesn't lend itself highly to solar. It depends on the average irradiance factor -- called TSRF. ~David K with Power Solutions

@VRVitaly 9 месяцев назад

great video thnx

@Superiorsolarconsulting 9 месяцев назад

Glad you enjoyed it

@LTVoyager 9 месяцев назад

Yes, 1:1 net metering is great as your neighbors are subsidizing your solar system and it doesn’t get any better than that!

@LTVoyager 9 месяцев назад

@@Royale_with_Cheeze I agree. My system is supposed to be installed in December or January.

@LTVoyager 9 месяцев назад

@@Royale_with_Cheeze Northern PA

@LTVoyager 9 месяцев назад

@@Royale_with_Cheeze My understanding is that PA does not work this way, but I am still learning and may not yet understand all of the details.

@Superiorsolarconsulting 9 месяцев назад

1:1 mostly makes sense. I understand the utility company wanting some for the transmission of the power. But in california right now for example, the utility company wants to give you between 0 and 5 cents 99% of the time and then send the power all the way next door to sell for an average of 40 cents. That’s crooked.

@LTVoyager 9 месяцев назад

@@Superiorsolarconsulting California has been dysfunctional since the beginning in regard to “green” energy policy. I certainly would not look to them as an example, other than as an example of what not to do. Personally, I think solar production should be paid at the same rate that the distribution utility is paying for its power on the open market. This seems to me the only fair way to do it. Generally, generation is about half the cost of the total power bill. If the total bill is 14 cents/kWh, then generation is probably 7 cents or so. Solar power generation should be compensated at the same rate is any other generation, be it nuclear, coal, NG, wind or hydro. 1:1 reimbursement is subsidizing solar generation by every other customer on the distribution system. That is crooked also.

@jeff96762 4 месяца назад

Don't you need to address the cost of power? If power costs are too low, then PV will take too long to breakeven. There is a cost to install PV over a period of time. It might cost about the same as some places pay for power, say 12 cents per kwh. So, in addition to the location you need to look at the cost of power to decide if its worth installing PV.

@Superiorsolarconsulting 4 месяца назад

Correct. All these NE states I mentioned have under 10 years payback periods. The incentives make it worth it even though the power costs aren’t that high relatively speaking

@LTVoyager 9 месяцев назад

I pay $30/month availability fee. How do you get this $10/month cost after installing solar?

@LTVoyager 9 месяцев назад

@@Royale_with_Cheeze That is not my understanding of how net metering works in PA. My cooperative charges $30/month and that is not subject to net metering credit. Net metering credit is only applied to power used, not the availability charge since the availability charge is not usage based. Any credit from one month is carried forward and applied to the next months usage, but only usage, not availability charge. At the end of each net metering year (ours runs from 6/1 to 5/31), any excess credits are purchased by our generation cooperative at their avoided cost rate, which is currently around 9 cents/kwh. So, as I understand it, I have to pay the $30/month availability charge no matter how much my array produces in excess of my consumption.

@LTVoyager 9 месяцев назад

@@Royale_with_Cheeze I don’t think it is as good. This is my understanding of how it works where I live. Let’s say in June, the first month after the account is bought out and zeroed, I use 1,000 kWh and product 1,200. I get 200 kWh of credits on my account, but still pay the $30 availability charge. Let’s say the same happens in July, August and September. I now have 800 kWh of credits in my account. Now let’s say in October, I use 1,000 and produce 900. I can use 100 of my 800 credits to zero out my usage for October, but still pay the $30 fixed charge and now have 700 in my credit account. Let’s say in November, December and January, I use 1,000 and produce only 800 each month. I would use 200 of credits each months entering February with 100 in credit. Let’s say I use 1,000 again in February and produce 900. I would use up my remaining credit of 100 and offset my usage, but now have no more credits. If I use 1,000 in March and product only 900, I now have to pay not only the $30 fixed charge, but I have to pay for the 100 kWh I used in excess of what I produced. This would continue until my production again exceeded my usage and thus build a kWh credit balance again or until the end of May when any credits in my account would be bought by the G&T at their avoided cost rate and my credit balance would again be 0 at the start of June.

@Superiorsolarconsulting 9 месяцев назад

There could be some utility companies with higher minimum fees. Which utility are you in?

@LTVoyager 9 месяцев назад

@@Superiorsolarconsulting An REC. They typically have price structures much more aligned with their cost structures, unlike IOUs whose prices are grossly distorted by the various state PUCs.