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As one of the cheapest forms of electricity across the United States, solar dramatically reduces greenhouse gas emissions and is proven to help slow climate change. According to the EPA, an average 8.6kW home solar system takes 9,606 pounds of CO2 out of the air each year. That's the same as 50 trees.
The Energy Information Administration (eia.gov) reports that utility rates are rising year over year. Big Wave Solar provides price protection throughout the length of your agreement, so you know what you’ll be paying today, tomorrow, and for the next two decades. Enjoy peace of mind in knowing your rates will never spike – it’s more valuable than you may realize.
Purchasing your home solar system allows you to take advantage of the Solar Investment Tax Credit (ITC). Solar power system owners are eligible for this tax credit which is worth 26% of the total cost of the system through the end of 2022. After 2022, the percentage will decrease each year and then expire completely for residential solar systems purchased after 2023.
We offer zero upfront costs in all of the states we operate ─ and in most cases, you won’t ever have to pay anything out-of-pocket, depending on the financial agreement you choose. All you’ll have to pay is a lower electricity bill. Our flexible finance options include leasing, loans or purchasing your home solar system.
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No need to rely on a grid when you have complete energy independence.
No longer worry about intermittent power supply for incredibly remote homes.
Avoid increasing standby backup generator costs.
Reduction in time of use and demand costs.
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The ITC is a driving force behind increased solar adoption in the United States. Since its implementation in 2006, solar installation has grown by over 1600% with an average annual growth rate of 76%. The tax credit is available for purchased solar systems and is worth 26% of the cost of the system, which is paid back to the homeowner and determined by the amount of the individual’s taxable income that year.
To replace New Jersey’s SRECs (Solar Renewable Energy Credits), the Garden State now offers TRECs. One TREC is earned for every 1,000 kilowatt-hours (kWh) of solar energy that your system produces, incentivizing carbon-neutral energy in the form of credits that can be sold back to your utility company. The current value of a TREC for residential solar is $91.20.
Net metering is a utility billing system that will credit homeowners for any excess electricity that their solar system produces. The excess power is sent back into the grid for community use through a bidirectional meter. The credits provided are meant to supplement the homeowner’s energy use at night or when it’s cloudy when the system isn’t producing as much.
If you purchase your system, you’re eligible for a 100% exemption from the sales tax of the purchase, which is currently about a 7% discount on the solar equipment being installed. Property tax incentives ensure 100% tax exemptions from property tax payments if you purchase a solar power system.
Eligible homeowners receive a 100% property tax exemption of the “added home value” that was a result of the solar panel installation. Reports currently average the resale value of a solar home to be about $3 – $4 more per watt.
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*Big Wave Solar is a registered trademark. A solar power system is customized for each home, so pricing and savings vary based on location, system size, roof condition and roof space, azimuth, tree location, government rebates, and local utility rates. Savings on your total electricity cost is not guaranteed. Financing terms and warranties vary based on location and are not available in all areas. HIC #s – NJ: 13VH10935800
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