It may come as a surprise, but New Jersey has the best financial incentives in the country for home solar power. The combination of high electricity rates, the federal tax credit, and solar renewable energy credits (which pay you for producing renewable energy) means a typical solar array will pay for itself in just 4 years. After that it’s free electricity and, thanks to the renewable energy credit market, a viable source of income for the next 11 years.

Even without a solar rebate, NJ beats every other state, even sunny California (where solar is immensely popular):

The two left columns show New Jersey solar payback time with and without a state rebate. No rebate = no problem.

Why is the payback time so fast? Here are the 5 reasons why New Jersey is the best place in the country to go solar:

1. Electricity in NJ is expensive

The typical cost of electricity in NJ is $0.19 / kWh, compared to the US average of $0.11 / kWh. That means that the average electricity bill in New Jersey is around $190-$228 per month. An average-sized solar array will cover most of this, knocking about $175 / month off of that bill.

2. The Federal Solar Tax Credit puts 30% back in your pocket*

The Federal solar tax credit is a tax credit for 30% of the total system cost. While you’ll have to shell out the money up front, at the end of the year you will get a tax credit of $10,500 for a $35,000 system (assuming you have tax liability for that year–otherwise it will rollover into another next tax year). Confusing? Yes. But don’t worry – your solar installer can help you with the right forms, and you can always consult your accountant.

3. SRECs turn your roof into an ATM*

Solar Renewable Energy Credits (SRECS) are credits you get for producing renewable energy. A home accrues 1 credit for every 1,000 kWh of solar energy produced, and each credit is currently worth around $650. We’ve estimated that the average home will produce about $5,000 worth of SRECs on average per year. A new solar energy system is eligible to produce SRECs for 15 years, meaning that an average roof could earn over $75,000 by selling credits over that time period.

4. You’re getting a 15-30% discount on panels and installation with group discounts

Although we can’t disclose our south New Jersey 1BOG rate for solar just yet**, we can tell you the price for our last New Jersey solar campaign: $5.54 / DC watt. If you went to a local big box store for solar today you would see prices around $8 per DC watt–or $17,958 more for an average sized system. Our group discount is typically around 15% off competitive market rates, although in New Jersey we anticipate it will be considerably more than that.

5. If you don’t want to purchase, you can go solar for $0 down.

Our local installation partner offers PPA-financing through SunRun, which means that you can install a system for $0 out of pocket.

Even though it’s our job to bring you good deals, we’re blown away by how good solar in New Jersey looks right now. There’s no better time to make the investment, especially since you can start generating SRECs as soon as the system is installed.

Want to evaluate the numbers for yourself? Use our calculator to estimate the cost of solar panels for your home. Want access to the 1BOG group discounts on solar? Sign up now! It’s free.

Stay tuned, as we’ll be writing more about solar in New Jersey soon. You can also learn more about our Southern NJ Solar Campaign.

* We are not tax professionals, so please make sure to consult your accountant on the tax implications of a solar installation. Additionally, please be aware that these calculations are based on several assumptions, including the future cost of electricity and value of SRECs. Yearly SREC payments have been updated in this post based on the most up-to-date information we have.

**1BOG discounted member pricing for southern New Jersey will be announced on Monday (June 14). Sign up here to be among the first to get 1BOG exclusive pricing details.

This afternoon I was talking to a reporter about the same thing I talk about every time: There are places in the country where the economics for home solar are so strong that it works for anyone—at least those  who don’t have a shaded or wonky roof and those who own a home. Some of these places have such great payback on solar that if you could get the proposition in front of everyone, you’d see a few homes with solar on every block.

But we’re not there yet, and we’re not even close.

We’ve always thought of that as 1BOG’s mission: to accelerate the adoption of solar and get it to where at least one in ten homes have it. We think that’s possible in huge areas of the Country, like New Jersey, California, Louisiana, Texas, and other cities.

We still have a ways to go, but that doesn’t keep me from being optimistic. Just look at the places solar is popping up these days:

1. Facebook Social Games: Social City

2. Nascar: Leilani Munter

3. The Vatican

And here are a few of the stranger places that solar panels are popping up:

4. Doghouses

5. Antarctic Research

6. Air-Conditioned Tents

7. My hometown of Shreveport

8. The, uh, backs of camels?

To participate, CLICK HERE.

One Block of the Grid is revving up its group discount program for home solar panel installations in New Orleans. In partnership with South Coast Solar, 1BOG has obtained a substantial mark-down to $6.65 per watt, around 15% below standard rates.  Combined with massive Louisiana solar tax credits (50%) and the government’s 30% Federal tax credit, an average house can get practically all of its power from the sun for a one-time installation price of $6,000— a cost that will be covered by energy savings within three to four years.  (These figures will vary depending on orientation towards the sun, shade, local energy prices. Check out our solar estimate tool for a quick calculation.)

According to the National Renewable Energy Lab’s (NREL) records, 1BOG is responsible for a significant number (33) of New Orleans’ domestic solar installations (NREL’s map says 69 total installs, but we suspect this number is under-reported).

New Orleans is seen as an especially viable market for solar power due to the continuing reconstruction efforts following Hurricane Katrina.  But in the wake of that tragedy, the city has an opportunity to rebuild and modernize rapidly.  For instance, a solar-powered super-structure has been proposed for construction along the banks of the Mississippi River.  Brad Pitt has also spearheaded a campaign to build solar-powered homes.

The time is right to go solar in the Big Easy, and 1BOG makes doing so cheaper and easier than ever before.

PRESS RELEASE

Partnering with South Coast Solar, 1BOG Offers Solar Group Discounts for Homeowners

San Francisco, Calif. – April 20, 2010 – One Block Off The Grid (1BOG), the nation’s largest solar panel group discount company, today announced the launch of a New Orleans solar group purchase campaign designed to make it easier and more affordable for homeowners in New Orleans to go solar. Homeowners interested in solar power will be eligible for a discounted rate of $6.65 per watt through local installer South Coast Solar, as well as free education, support and online tools.

After a month-long vetting process, 1BOG selected South Coast Solar for their excellent group pricing, products, warranties and history of successful installations.

“Federal and state incentives cover 80 percent of the cost of a solar electric system, making going solar already a no brainer for New Orleans homeowners,” said 1BOG CEO, Dave Llorens. “When you add the 1BOG unique group discount on top of that, this is a tremendous deal. As a Louisiana native, I’m excited that this campaign has the potential to make New Orleans a solar leader.”

“We are thrilled that South Coast Solar was selected as the installer of choice to service the second New Orleans 1BOG campaign — an easy way for our community to add value to their homes, lower bills and stimulate the local economy,” said Tucker Crawford, CEO at South Coast Solar. “1BOG’s community approach provides confidence for homeowners that solar is the right thing to do and that it’s a great investment for their wallets, homes and the environment.”

Together with local architect and developer Wisznia | Architecture + Development, 1BOG and South Coast Solar will host an educational networking event on Thursday, May 20, 2010 from 6:00 pm to 9:00 pm CT to explain the solar process and provide information about available rebates and incentives for homeowners. Several New Orleanians who have already installed solar panels through 1BOG will be on hand to share their stories.

The New Orleans 1BOG program is available now to local homeowners throughout the greater New Orleans area through July 20, 2010. For more information, details about pricing and products or to sign up, visit the 1BOG New Orleans homepage at http://SolarNewOrleans.1BOG.org/.

About One Block Off the Grid:
One Block Off the Grid (1BOG) is the group purchase program that negotiates big discounts on solar power for homeowners to make home installations easy and affordable. For every regional campaign, 1BOG conducts a rigorous and impartial selection process to identify an ideal installer partner, based on their pricing, track record of quality installations, reliable warranties, premium products and a viable business model. 1BOG organizes interested homeowners into a large solar buying group to offer the best deal for solar power without having to become solar experts themselves. 1BOG was founded in 2008 in San Francisco, California and has active campaigns in 10 cities across the US. For more information, visit www.SolarNewOrleans.1BOG.org.

About South Coast Solar:
Headquartered in New Orleans, South Coast Solar, LLC is the premier Solar Electric (PV), Solar Hot Water, and Lighting Efficiency Systems design/build contractor in the Southeast. SCS is also Louisiana’s first renewable energy systems Building Performance Contractor. Their unique approach to energy efficiency solutions for residential and commercial buildings is unrivaled in the Southeast. By combining renewable energy with energy efficiency measures, they provide their clients with a comprehensive energy savings solution. For more information, visit www.southcoastsolar.com.

San Francisco, Calif. – March 22, 2010 – One Block Off the Grid (1BOG)

This 1BOG campaign coincides with the launch of GreenFinanceSF, the City of San Francisco’s version of a Property Assessed Clean Energy (PACE) program. Homeowners can finance energy efficiency, renewable energy and water conservation improvements that are paid back through property taxes, rather than income. 1BOG’s solar resources, tools and advice will help San Francisco community members understand the process so that they can decide whether to use this new innovative way of financing their solar energy systems.

“Stacking city, state and federal rebates on top of the 1BOG group discount makes solar energy a no brainer compared to any other fixed-return residential investment.  Going solar is a smart financial decision, especially for homes with large power bills.” said 1BOG CEO Dave Llorens. “Combining the City’s powerful new financing that requires no home equity, with 1BOG’s support, makes it easier and more affordable than ever to go solar.”
“Luminalt’s mission is to empower San Franciscans as solar leaders: we offer outstanding customer service and products, engage with our local community to provide the highest possible incentives, and we provide green jobs and training for residents of underserved communities  as installers and in other solar industry roles,” said Luminalt CEO Jeanine Cotter. “It is essential to make clean energy mainstream, and we are thrilled to work with 1BOG to offer a simple and financially compelling way for San Francisco homeowners to go solar.”

The San Francisco 1BOG program is available now to local homeowners throughout the entire city of San Francisco through June 25, 2010. For more information, details about pricing and products or to sign up, visit the 1BOG SF Solar homepage at http://SolarSanFrancisco.1bog.org.
1BOG and Luminalt will be hosting a free webinar and online information session with details about the SF solar campaign on April 22, 2010 at 7 p.m. PT. To sign up, visit: http://SolarSanFrancisco.1bog.org/webinar.

http://cbs5.com/video/?id=62401@kpix.dayport.com

The gang checking out our new bank account balance.

We are thrilled to announce today that VC firm NEA has invested $5 million in 1BOG! The money will support our continued growth and expansion across the US, bringing solar onto the roofs of as many Americans as possible!

NEA has also invested in household names such as Groupon, Salesforce and Tivo, as well as Bloom Energy, oPower and Suniva on the cleantech side.

Here’s the press release. Also, lots of great publications have covered the news including San Jose Mercury News, Techcrunch and CNET. Thanks to all who helped make this possible!

Great news, 1BOGers! Today we announced the first ever group purchase of solar on the east coast. We chose New Jersey for its great state and utility rebates. The incentives are so good that our CEO Dave Llorens commented, “I want to move to Jersey and buy homes, just to put solar on them.”

For this campaign, we wrangled the stellar rate of $5.45 per watt. That’s 16% cheaper than 2009 rates in the area! Our installer partner is The Solar Center, a local company based in Rockaway, and we’re glad to work together to help spread solar to many more homes in the garden state.

Tell your friends in northern New Jersey they can sign up until April 25th, 2010. As usual, sign up is free, and gives you the group rate and lots of useful solar info. The campaign includes Sussex, Passaic, Bergen, Hudson, Essex, Morris, Warren, Hunterdon, Somerset, Union and Middlesex counties.

Take a look at our press release announcing the news, this article: Company to help Bergen County residents with solar installations that appeared New Year’s Day in The Bergen Record, or this story: Rockaway company partners up to help Morris residents explore solar power in The Daily Record that came out today. To find out more, visit our Solar New Jersey homepage, or attend our free webinar with more details on Thursday, February 18 at 7pm: http://solarnorthjersey.1bog.org/webinar.

With $50,000, Dave Llorens helped five blocks of New Orleans’ homeowners go solar. What could you do? Go to www.RefreshEverything.com to get your ideas in!