What is the life expectancy of solar panels in New Jersey?
Solar panels have a life expectancy of 25-30 years or more. The product lifespan gives you plenty of time to recover your initial investment and continue to earn cost savings for many years.
Are there disadvantages to using solar energy in New Jersey?
Solar energy comes with a significant upfront investment, which can turn some people away. Another possible disadvantage is that solar panels may not be ideal if your roof is worn or shaded.
Is it better to buy or lease solar panels?
Many people lease their solar panels because of the lower upfront investment. But ultimately, this method is not as cost-effective. When you lease, you don’t get to take advantage of the tax credits and exemptions. You’ll have monthly payments as long as you have the solar panels. Finally, you don’t benefit from the property value added to your home.
What percent of New Jersey energy production is solar?
As of the fourth quarter of 2020, New Jersey gets around 6.23% of its electricity from solar power.