Monday, December 3, 2012

New Jersey is nation's solar energy leader

Solar energy industry is currently the fastest growing renewable energy industry in United States. The significant decline in price of solar panels in the last few years and the favorable incentives in many U.S. states were the main factors behind the rapid growth of solar energy industry in United States.

One of the U.S. states that is looking extremely good in developing its solar energy sector is the state of New Jersey. New Jersey is currently second U.S. state in installed solar power capacity, only trailing California. The rate of solar power installations in New Jersey is currently even outpacing the much sunnier California.

The strong development of solar energy industry in New Jersey is mainly the result of favorable incentives and adequate legislation such as the 2009 law under which electricity-delivery companies must obtain 20 percent of their power from solar energy.

New Jersey is today the largest commercial solar market in United States according to Solar Energy Industries Association. At the end of 2011 New Jersey accounted for 24 percent of total U.S. solar power capacity - up from 15 percent at the end of the first quarter of the 2011. New Jersey Clean Energy Program that has provided over $300 million dollars in funds to promote solar energy through rebates on the cost of installations of PV systems is the main driving force behind the state's remarkable solar power growth.

This favorable legislation did not only result in more electricity generated from solar power but has also created many new well paid jobs. The solar industry in New Jersey currently employs more than 3,000 people. Many solar energy companies based in New Jersey have experienced significant growth in the last few years. Among the most positive examples are companies such as Petra Solar, Pro-Tech and GeoGenix.

New Jersey is certainly showing the rest of the nation the right way in solar energy development. California is still leading the way as the state with the largest solar power capacity but the Garden State’s has relatively diminutive size compared to the Golden State which makes New Jersey’s solar energy achievement even more remarkable.