The Solar Investment Tax Credit (ITC) is the easiest solar benefit to understand. When purchasing your solar system, you will be eligible for a federal tax credit of 26% of the total cost of your project! This is a true dollar-for-dollar tax credit that can be applied to your tax liability. At the end of 2022, the ITC is set to step down to 22%. The ITC is eligible to customers who purchase their system outright or through financing. Prospective customers should always speak with their account to fully understand how the ITC will benefit them.
SREC stands for Solar Renewable Energy Certificate. SREC-II’s are part of NJ’s Successor Solar Incentive (SuSI) Program and are a type of clean energy credit generated based of the electricity production of your solar system for a 15-year period. For every 1,000 kWh of electricity produced, an SREC-II credit is issued. Residential SREC-II’s sell for a fixed value of $90. Selling your SREC-II’s are key to realizing a relatively quick ROI for your solar system.
Net metering is the billing process that allows grid-tied solar system owners to be credited for the amount of electric they are sending back out to the grid. Any excess of electric that is produced during the day that you are not using is being sent back out into the grid, running your electric meter in reverse. When there is a need for electric when you solar system is not producing, such as nighttime, you pull electricity from the gird, running your meter forward. At the end of the month you are billed for your net usage.
The equipment will come with a 25-Year Manufacturing Warranty. Impact Solar will also provide a 25-Year Workmanship Warranty on the installation as well as a 10-Year Solar Production Guarantee.
When selling your home, your solar system should be considered an asset. If you still owe money on a loan, you could simply pay it off without penalty with proceeds from your home sale, or even transfer that loan to the new buyer. When negotiating with a buyer, you can roughly calculate the value the solar system will add to the home. Not only is it largely offsetting electric bills, but in some cases you may have years of revenue earning left with future SREC-II income – current value of SREC-II’s multiplied by how many years left in the program.
The leak-proof warranty provided by Impact Solar LLC will protect your home from any damage caused by a leak if it is determined the leak was caused by our installation. A leak that occurs beyond what the agreed upon term for the leak-proof warranty shall be the responsibility of the homeowner. This is in large part why solar systems should not be installed on old, already deteriorating roofs.
It is recommended that each homeowner purchasing a solar system immediately add it to their Homeowners Insurance policy. This will protect your investment from damages by storms or unforeseen acts.
Yes! Through third-party financiers in the solar lending institution, it has never been easier to go solar without having to put any money down, while enjoying all the benefits and incentives of owning your solar system. Our team will navigate you through how financing works and help you find the best loan option to fit your preferences.
This varies based on how much electricity you consume. During the free consultation process, we will determine the proper sizing of your solar system based on your specific needs, which include the electric you consume and the roof or ground space you have available.
If we are able to design a solar system that can produce 100% of your electrical needs, you will just receive a small customer charge, usually around $5/month depending on your utility company. This is a service charge to remain connected to the utility grid. Over time, it should be expected that all solar systems will degrade and produce marginally less electricity year over year.
Yes. We work with several different manufacturers.
Many factors affect a decision to go solar including roof condition, shading issues, homeowner credit, next sale of property, solar electricity offset, solar panel placement, etc. All these factors need to be considered before someone decides to go solar.
Yes, we do have a referral program. Upon completion of your family/friend’s project, you would receive $500 from Impact Solar! It is important to convey to your solar consultant that you were referred by a previous customer.
Impact Solar will help you assess the state of your current roof before proceeding with a solar project. If you need to replace the roof sometime down the road, then at a cost we can remove the system, allow the roofers to redo the roof, and then reinstall the system for you.