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New Jersey’s Authority on Solar Energy (732) 269-0308
All-black Solar Panels Atop Residential Home With Tree In Foreground & Blue Sky

How to Make Passive Income with Solar Panels

It’s well-known that solar panels save you money on your electric bills, but did you know that you can also make money with solar panels? It’s true—residential solar panels have earning potential and can turn your roof into a money-making machine! 

At NJ Solar Power, we’ve been helping New Jersey homeowners earn money with solar panels for decades. We’re one of the oldest and most experienced solar installers in New Jersey, and we know what it takes to maximize profit from your solar panels. 

Want our insider tips for making money with solar panels? Keep reading! 

Own Your Solar Panels

Ownership is the key to profiting from solar panels. There are several alternatives to buying solar panels, like leasing or subscribing to a community solar program, but they have drawbacks when it comes to lifetime earnings. If you don’t own your solar panels, your return on investment will be lower and you won’t be eligible for the incentives that put extra cash in your pocket. 

Sell Power Back to the Electric Grid 

When you install rooftop solar panels in New Jersey, you’ll be eligible for a solar incentive known as net metering. Net metering allows you to sell the excess electricity your solar panels generate to your utility company in exchange for a credit to your account. You can use your net metering credit to buy electricity when your solar panels are not producing enough—like at night or on a cloudy day. 

New Jersey has one of the best net metering programs in the country, and solar customers are credited at the full retail rate for the power they sell to the grid. Thanks to our favorable net metering policies, it’s possible to have a $0 or even negative electricity bill with solar panels, which means higher earnings for you. 

Think about it this way—if you’re spending $150 a month on electricity now, installing solar panels could earn you $150 a month by keeping that money in your pocket. With net metering, you can be cash flow positive from day one with solar panels. 

Unfortunately, net metering is under attack in New Jersey. Major changes are being considered that would cut incentives for solar customers and reduce your overall solar earnings. Go solar now to lock in the best rate while you still can! 

Earn Solar Renewable Energy Credits 

Solar Renewable Energy Certificates (SRECs) are a form of renewable energy certificate or credit. They represent the environmental attributes of electricity generated from solar energy sources. One SREC is created for every megawatt-hour (MWh) of solar electricity produced and can be sold for cash! In most states, the value of SRECs is determined by market supply and demand and can vary. But in New Jersey, residential solar customers receive a guaranteed payment of $85 per SREC for 15 years. SRECs make it easy for solar owners to generate additional revenue with their solar panels. 

Maximize Your Solar Earnings with NJ Solar Power 

At NJ Solar Power, making you money is our number one priority! We design and install custom solar power systems tailored to your specific needs so we can ensure maximum power generation and the highest possible return on investment. As a locally-owned company with over two decades of experience and thousands of systems installed, we are the number one choice for solar panel installation in New Jersey! 

Start making money with solar panels! Call 732-269-0308 or contact us to learn more.