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SolarEnergyByZip is a tool for home owners or businesses to easily determine the potential of solar energy for any location in the continental United States. To determine the potential solar energy, fill in the address below. You only need to fill in either the city and state or the zip code. You can also click on the map below to find the solar energy for that location.
Search results for:
Wildwood, NJ 08260
Average Number of Sun Hours: 4.77

At this geographic location, in order to generate 10,000 kW of electricity per year, you would need a 8 kW photovoltaic system installed.

Cost Analysis
Using a typical photovoltaic installed cost of $7.50/Watt (this cost can vary depending on many variables specific to your site), the total installed cost of this system should be approximately $60,000.00.

Federal Residential Renewable Energy Tax Credit $18,000.00
.01 Section 25D provides a tax credit to individuals for residential energy efficient property. Section 1122 of Division B of the American Recovery and Reinvestment Act of 2009, Pub. L. No. 111-5, amended section 25D for taxable years beginning after December 31, 2008. The amount of a taxpayer’s section 25D credit for a taxable year beginning after December 31, 2008, is equal to the 30 percent of the qualified solar electric property expenditures made by the taxpayer during the taxable year.
The tax credit for this system is likely to be $18,000.00

New Jersey's Clean Energy Program (residential up to 10 kW) $14,000.00
The Renewable Energy Incentive Program (REIP) provides rebates that reduce the upfront cost of installing renewable energy systems like solar, wind, and sustainable biomass projects. The REIP is part of New Jersey's efforts to reach its Energy Master Plan goals of striving to use 30 percent of electricity from renewable sources by 2020. The program includes financial incentives to system owners who install qualified clean energy generation systems in New Jersey. The rebate for this system is estimated to be $14,000.00

New Jersey SRECs $6,900.00
The SREC program provides a means for Solar Renewable Energy Certificates (SRECs) to be created on behalf of the solar owner and sold to electric suppliers to meet their solar RPS requirement. All electric suppliers are required to use the SREC program to show compliance with this part of the State's Renewable Portfolio Standard. SRECs are designed to provide solar owners with an economic incentive to investing in solar electric systems which improve the electric distribution grid. They represent the renewable attributes from your solar facility, bundled in minimum denominations of one megawatt hour of production. It is estimated that this photovoltaic system would generate approximately $6,900.00 per year (assumes rate of $690.00/mW).

How many years to pay off the photovoltaic system

Original Cost of System: 60,000.00

End of Year 1 Savings:
Residential Energy Tax Credit: $18,000.00
State Rebate: $14,000.00
SRECs: $6,900.00
Energy Savings: $0.18
Remaining System Cost: $21,099.82

End of Year 2 Savings:
SRECs: $6,900.00
Energy Savings: $0.18
Remaining System Cost: $14,199.64

End of Year 3 Savings:
SRECs: $6,900.00
Energy Savings: $0.18
Remaining System Cost: $7,299.47

End of Year 4 Savings:
SRECs: $6,900.00
Energy Savings: $0.18
Remaining System Cost: $399.29

End of Year 5 Savings:
SRECs: $6,900.00
Energy Savings: $0.18
Remaining System Cost: $0.00

* solar energy values provided by the National Renewable Energy Laboratory ("NREL"), which is operated by the Alliance for Sustainable Energy, LLC for the U.S. Department of Energy ("DOE").
This site was developed by Johannessen & Leone Associates - Structural Engineering and Inspections.
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