07 Feb '12, 10am

The Hottest Places for Solar Panels

The Hottest Places for Solar Panels

It would seem logical that this would be where you could earn the most money by installing solar panels, since it is where they’d generate the most power. However, while there is a Federal tax credit for renewable energy, additional incentives vary widely from state to state. The seemingly unlikely best state for installing domestic solar panels is, in fact, New Jersey. Indeed, not only is it one of the most attractive places for investment in solar in the US, but in the world. The generous incentives in the Garden State include renewable energy credits, where one credit, worth $650, is paid per 1000kWh generated. Combined with some of the country’s highest electricity costs, at $0.19/kWh compared to the national average of $0.11/kWh, this means that the solar panels will pay themselves off after approximately 4 years, and the payments last for 15 years.

Full article: http://www.triplepundit.com/2012/02/hottest-places-solar-...

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