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Dec26-09, 09:08 AM
P: 1,591
Latest update is that the local inspector has passed the system. This was the technical inspection. The state interest is more in bookkeeping. It waits until after the local inspector has passed the system, then they just look to see that it was installed and write down serial numbers and performance data from the installed equipment. The state is mainly looking to see that it is not a fake installation designed to collect SREC certificates without producing electricity, or that it is duplicating installation details from another location (the State is looking that there is no evidence of fraud).

Quote Quote by concaveup View Post
I don't live in NJ, but I hear that New Jersey solar power has one of the most progressive incentive plans in the US. Personally I'm not sure about investing in solar right now. But if you have calculated it to return in 10 years, and already have funds available I think it could be a good idea to save on energy prices when they go up. I would just make sure that you can sell your excess energy back to the grid at least for the 10 years to breakeven. If you want to install solar panels, there are breakthroughs coming, but the technology hasn't actually changed much in decades. I wouldn't count on new panels coming out any time soon. Of course you risk that they might come out, but you can't be sure. Like the phrase goes, "the best time to plant a tree is twenty years ago, the second best time is now." I think the same applies to solar panels, except maybe 10 years. If you installed them 10 years ago you might be getting free energy already.
SRECs are supposed to be available for at least the next 15 years. That is the maximum projected payback, more likely 10 or less years, with a good SREC rate. Also, I want to install a heat pump to allow me to heat my house with electricity through much of the winter. I am going to have a State energy audit performed. If the audit suggests a heat pump be installed I can get half of the cost of a heat pump rebated to me from NJ. This can decrease my payback period by reducing my fuel oil consumption.

The reason I invested now are all the incentives are so high from state and federal governments and utilities through SRECs, rebates and tax credits. Payback through electrical savings alone would be in excess of 30 years for my system, depending on the rise in cost of electricity and that would not have been practical.