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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.

Business Energy Investment Tax Credit (ITC) $18,000.00
The credit is equal to 30% of expenditures, with no maximum credit. Eligible solar energy property includes equipment that uses solar energy to generate electricity, to heat or cool (or provide hot water for use in) a structure, or to provide solar process heat. Hybrid solar lighting systems, which use solar energy to illuminate the inside of a structure using fiber-optic distributed sunlight, are eligible. Passive solar systems and solar pool-heating systems are not eligible.
Tax credit for this system is likely to be $18,000.00

Modified Accelerated Cost-Recovery System (MACRS) $12,000.00
The MACRS allows a corporation to depreciate the cost of the solar panels and associated equipment and installation in five years.
The depreciated cost per year of this system is $12,000.00

New Jersey's Clean Energy Program (commercial up to 50 kW) $8,000.00
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 $8,000.00

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:
Investment Tax Credit: $18,000.00
MACRS: $12,000.00
State Rebate: $8,000.00
SRECs: $6,900.00
Energy Savings: $0.16
Remaining System Cost: $15,099.84

End of Year 2 Savings:
MACRS: $12,000.00
SRECs: $6,900.00
Energy Savings: $0.16
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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