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Solar vs. grid power: how much can you save?
Electricity rates are on the rise. The U.S Energy Information Administration (EIA) estimates that electricity prices in the U.S. rose 6.2% in 2023 alone.
Homeowners across the country are looking for ways to reduce their energy costs and many are turning to solar energy. But just how much can you save with solar and is it worth the investment?
Solar customers can often save tens of thousands of dollars over the lifespan of their solar system. To determine exactly how much you can save, you’ll have to do a little math.
Compare your current cost per kW from Atlantic City Electric Co with the cost per kW of your solar system. Then calculate your monthly or yearly expenses across a 25-year period. Finally, subtract your total cost of energy with solar from your total of energy from the grid to determine your savings
A simpler way to estimate your savings potential is to compare your current monthly energy costs with your projected solar payments. If your energy costs are higher than your solar payments, there is a good chance you will see savings.
At Solar Cost Calculator, we suggest that anybody paying more than $100 a month for electricity should consider solar.
What solar incentives Atlantic City Electric Co does offer?
Category : Financial Incentive
Website : http://www.njcleanenergy.com/commercial-industrial/programs/local-government-energy-audit/local-government-energy-audit
Applicable Sectors : Local Government, Nonprofit, Schools, State Government, Federal Government, Tribal Government
Incentive Amount : 100% of Energy Audit cost
Implementing Sector : State
Category : Financial Incentive
Website : https://www.njcleanenergy.com/commercial-industrial/programs/pay-performance/new-construction/new-construction
Applicable Sectors : Commercial, Industrial, Local Government, Nonprofit, Schools, State Government, Federal Government, Institutional
Incentive Amount : Awarded based on completion of three program milestones See Program Guide for full details. Existing Buildings Incentive 1: Energy Reduction Plan $7,500-$50,000, $0.15/sq ft, not to exceed 50% of facilities annual energy expenditure; Incentive 2: Installation of Recommended Measures 25% of the total project cost; Base incentive 15% savings: $0.09/kWh saved, $0.90/Therm saved For each % over 15%: $0.005/KWh saved, $0.05/Therm saved Maximum Incentive: $0.11/kWh saved, $1.25/Therm saved Incentive 3: Post-Construction Benchmarking Report Incentive cap is 25% of total project cost Enhanced incentives are equal to an additional 100% of the incentives #2 and #3 listed above. The incentives are subject to a cap of 80% of the Applicant’s cost for the project allocated between Incentive #2 and #3: Incentive 2: Installation of Recommended Measures Electric Savings Additional Incentive: $0.09-$0.11/per projected kWh saved Gas Savings Additional Incentive: $0.90-$1.25/per projected Therm saved Incentive 3: Post-Construction Benchmarking Report Electric Savings Additional Incentive: $0.09-$0.11/per projected kWh saved Gas Savings Additional Incentive: $0.90-$1.25/per projected Therm saved New Construction Minimum Cost Reduction 15% - Multifamily 5% - All Other Incentive 1: Proposed Energy Reduction Plan $0.10/sq ft for ERP +0 -1.9% above $0.12/sq ft for ERP +2 – 4.9% above $0.14/sq ft for ERP +5% or greater Maximum: $50,000.00 Pre-Design Bonus: $0.04/sq ft Maximum Bonus : $20,000.00 Incentive 2: Installation and Commissioning of Measures +0 – 1.9%: $1.00/sq ft +2 – 4.9% : $1.20/sq ft +5% or greater: $1.40/sq ft Incentive 3 : Building Performance Flat: $0.40/sq ft Commercial and Multifamily Incentive 1: Proposed Energy Reduction Plan $0.08/sq ft for ERP +0 -1.9% above $0.10/sq ft for ERP +2 – 4.9% above $0.12/sq ft for ERP +5% or greater Maximum: $50,000 Pre-Design Bonus: $0.04/sq ft Maximum Bonus $20,000 Incentive 2: Installation and Commissioning of Measures +0 – 1.9%: $0.80/sq ft +2 – 4.9%: $1.00/sq ft +5% or greater: $1.20/sq ft Incentive 3 : Building Performance Flat: $0.35/sq ft
Implementing Sector : State
Category : Financial Incentive
Website : https://www.njcleanenergy.com/smartstart-new-construction-buildings
Applicable Sectors : Commercial, Industrial, Local Government, Nonprofit, Schools, State Government, Federal Government, Agricultural, Institutional
Incentive Amount : Varies widely by equipment type, size and efficiency.
Implementing Sector : State
Category : Financial Incentive
Website : http://www.njcleanenergy.com/residential/programs/comfort-partners/comfort-partners
Applicable Sectors : Residential, Multifamily Residential, Low Income Residential
Incentive Amount : Direct installation, no cost to recipient
Implementing Sector : State
Category : Financial Incentive
Website : http://www.njcleanenergy.com/commercial-industrial/programs/combined-heat-power/combined-heat-power
Applicable Sectors : Commercial, Industrial, Local Government, Nonprofit, Schools, State Government, Federal Government, Agricultural, Multifamily Residential, Institutional
Incentive Amount : Varies by system type and size. Incentive design includes: Capacity based per KW incentive
Implementing Sector : State
Category : Regulatory Policy
Website : http://www.njcleanenergy.com/renewable-energy/programs/net-metering-and-interconnection
Applicable Sectors : Commercial, Industrial, Local Government, Nonprofit, Residential, Schools, State Government, Federal Government, Tribal Government, Agricultural, Institutional
Incentive Amount :
Implementing Sector : State
Category : Regulatory Policy
Website : http://www.njcleanenergy.com/main/public-reports-and-library/program-budgets-and-filing/program-budgets-and-filing-0
Applicable Sectors : Commercial, Industrial, Investor-Owned Utility, Local Government, Nonprofit, Municipal Utilities, Residential, Cooperative Utilities, Schools, State Government, Federal Government, Agricultural, Institutional
Incentive Amount :
Implementing Sector : State
Category : Financial Incentive
Website : https://www.njeda.com/edison-innovation-green-growth-fund/
Applicable Sectors : Commercial, Industrial
Incentive Amount : Grants: up to $300,000 Loan: Up to $ 3 million
Implementing Sector : State
Net metering with Atlantic City Electric Co
Category : Regulatory Policy
Website : http://www.njcleanenergy.com/renewable-energy/programs/net-metering-and-interconnection
Applicable Sectors : Commercial, Industrial, Local Government, Nonprofit, Residential, Schools, State Government, Federal Government, Tribal Government, Agricultural, Institutional
Incentive Amount :
Implementing Sector : State
Installing and connecting your solar system
When you install a solar system in Atlantic City Electric Co territory, these are steps you can expect to go through:
Once you’ve hired a contractor, you will need to communicate with Atlantic City Electric Co to prepare the interconnection paper. Your contractor will handle most of these responsibilities
After the interconnection agreement has been finalized, your contractor can begin the installation process.
Once your system is installed, it needs to be inspected for safety and code compliance.
After the final inspection, you will receive a written notice within a few days that your system is approved to operate. You can turn on the system yourself or you can contact your installer for further assistance.
Most homeowners prefer to do it themselves. The whole process should only take 10 - 15 minutes.
Is solar worth it for Atlantic City Electric Co customers?
The short and sweet answer is a resounding YES. Going solar is definitely worth it for Atlantic City Electric Co customers. The average homeowner in _UtilityCompanyName_ can save an estimated #### over the lifespan of their solar system.
Going solar is a long game so you need to think several years ahead. It can take a few years to hit your break even period. But between net metering and solar incentives, you can drastically reduce that timeframe.
Want to get an idea for what it will cost you to go solar with Atlantic City Electric Co? You can use our Solar Cost Calculator to generate a customized estimate instantly. We take into consideration a wide range of criteria including location, electric bill, roof size, and other factors. Try it out today and start planning for your future.
