Want Solar Energy Write-Offs? Try New Jersey

[jpak]

http://www.bloomberg.com/apps/news?pid=20601039&refer=columnist_wasik&sid=aKoeQcVKShz8

Aug. 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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[MADem]

1. It's the hottest state for solar power

Well, good for NJ.

Wish everyone would follow their lead, it would make a MASSIVE difference in our lives; from foreign dependence to air quality. And it would shut these idiots up who claim that the only way we can make a reasonable dent in dependence is to pave over the southwest with panels.

[FogerRox]

2. KNR... NJ has the best rebate program of any state

1 yr ago.. NJ would pay about 67% of the cost to put PV cells on your roof, unfortunatly the percent goes down each year. I have a friend who installs panels... he waits 6 months for product.

This idea would go well with a CCC/WPA work program ... on a national scale.... if we had the leadership to get it done.. in 5 yrs a good chunk of electricity would be solar..... if...