SMART FAMILY. SMART SOLAR.
While solar is becoming more and more wide spread, one New Jersey family takes smart steps with smart solar. With a keen eye for positive returns on investments the Carretero family immediately saw the financial benefits of installing solar in New Jersey.
In May 2010, the Carretero’s contacted Solar Energy World to learn more about solar and the New Jersey solar market.
The Carretero’s knew this was an investment with a pay back better than Wall Street so it was an easy decision to “go green”. They invested in a 10.12 kW SunPower® solar energy system. To sweeten the deal, the Carretero’s also received a 30% federal tax credit.
The SunPower system includes 44 – 230watt panels with Enphase microinverters – making this one powerful system. In this configuration, panels are linked to a microinverter to maximize the energy harvest of the panel. A traditional configuration would link several panels together in a series connected to one inverter located usually in the home near the electrical box.
Due to this individualized “panel harvest,” Enphase claims you will see anywhere from a 5%-25% gain in power output when compared to a string inverter configuration.
This option allows the Carretero family to save $1960 in utility costs per year.
Additionally, the homeowner will generate approximately 11 Solar Renewable Energy Credits per year. SRECs are credits earned per 1,000 kWh of electricity generated from solar systems that are then bought by utility companies in order to meet the requirements of New Jersey’s Renewable Portfolio Standard.
New Jersey’s SREC system is second in the nation only to California.
The Carretero’s solar energy system is equivalent to removing CO2 emissions from 925 gallons of gasoline per year. This family now has more money in their pockets while also making a wise contribution toward environmental stewardship.
Project Overview
Location: Old Bridge, New Jersey
Completed: September 2010
Number of Panels: 44
Products: SunPower® 230-watt solar panels
Benefits:
- Eliminates $1,960 per year in energy costs
- Earns $7,040 per year from Solar Renewable Energy Credits
- Saved $21,252 in government incentives
- Will realize ROI in less than 5 years
- Reduce CO2 emissions by 15,385 pounds per year
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