http://www.bloomberg.com/apps/news?pid=20601039&refer=columnist_wasik&sid=aKoeQcVKShz8Aug. 28 (Bloomberg) -- As the U.S. property market and summer both cool down, turning your house into a power producer can make sense. If you want to ``go solar'' with your home and boost its market value, New Jersey is a good place to start.
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Because he is using ``clean'' energy not produced by fossil fuels, Olsen receives a check for the power he generates. Under New Jersey's program, local utilities are required to buy back any power produced by solar or alternative sources. That credit was worth $1,850 to Olsen last year and covered his natural-gas heating bill.
While Olsen didn't qualify for federal-tax credits -- he installed his system before the latest U.S. income-tax write-offs became law -- New Jersey also partially subsidized the solar equipment, so that he paid only $18,000,
the price of a moderate kitchen upgrade.
Using a home-equity line of credit to buy the equipment, he figures his system will be paid off in four to five years. Better yet, he estimates that his home's market value will increase by more than $60,000 because of the units and resulting lower operating costs.
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