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).
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.