Does Going Solar in IL, NY, PA, NJ, or MD Make Sense? Solar Payback Periods Explained.
Julian Solar Consulting Julian Solar Consulting
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 Published On Premiered Sep 22, 2023

For a solar consultation, reach out to Julian @ (760) 473-5878, or email at [email protected].

TOP 5 STATES TO GO SOLAR IN 2023

I get a lot of calls and emails from people who are curious if going solar in some of the more northern states still makes sense. The good news is that it actually does because of the way the net metering agreements are structured and the multiple incentives that are offered. I chose the top 5 states to go solar in which include: Maryland, New Jersey, Pennsylvania, New York, and Illinois. All of these states offer a payback period of less than 10 years given somebody is buying the system cash.

If you want to fast forward to your state's solar payback period, please see below:
Solar Payback Period in Maryland - 4:30
Solar Payback Period in Pennsylvania - 7:33
Solar Payback Period in New Jersey - 11:22
Solar Payback Period in New York - 14:20
Solar Payback Period in Illinois - 16:37

The 30% federal tax credit is available in all 50 states and is a direct subtraction from your federal income tax liability.

1:1 net energy metering, or NEM, means that your utility provider actually purchases your excess kWh production for the full retail price and credits you so you can actually by power at night and that credit that was built up in the day. This allows you to bypass the need for a solar battery for self consumption or full backup.

What are SREC's, or State Renewable Energy Credits? SREC's play a big factor in the speed of the payback period or ROI. Solar in Illinois, for example, the SRECS are paid in a lump sum after 1 year of the system being in operation. It is absolutely insane how small the net cost ends up being compared to the gross total. New Jersey SUSI program pays out SREC's for 15 years as well which is amazing. Pennsylvania's SREC market is connected with New Jerseys and is structured similarly.

We have solar panel companies near you. If you're looking to go solar in Illinois, go solar in New York, go solar in New Jersey, go solar in Pennsylvania or go solar in Maryland then please reach out for a solar consultation and we can provide you with a solar quote. We have great solar installers and consultants near you and we'll be able to share with you everything you must know when going solar in your area.

Would you like to get started with a consultation? If so, then please fill out the form in the link below. Once received, my assistant Cody will call you back afterwards to explain next steps in receiving a thorough consultation and quote from us. Thank you for watching the channel.

https://form.jotform.com/230316991463155

Call (760) 473-5878, or email at [email protected].

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