SWITCH YOUR ELECTRIC SUPPLY TO GREEN/RENEWABLE POWER (5/2019)
(one of many ways YOU can save money, AND help the
INSTALL SOLAR CELLS:
GREATEST RETURN ON INVESTMENT: if money is available, pay up-front
to install solar panels on your roof and become your own electrical supplier. Payback might be 4 years, due
to lower electric costs, solar federal tax credits and receipt of
annual NJ SREC credits (annual solar dividends from NJ; However, new SRECs will disappear ~Oct, 2019.
FINANCE for as little as NO money up front. The solar company
installs and owns the panels installed on homeowner’s roof. The
homeowner signs a 10 or 20 year contract for a lower electric rate with
the solar company. The investors in the solar panel company benefit from fast payback.: Viridian Energy appears to be using this process. BUT watch the fine print on future electric price escalation! See "Solar Selection Guide" https://www.seia.org/sites/default/files/2018-06/SEIA-Consumer-Guide-Solar-Power-v4-2018-June.pdf
ASK YOUR CITY TO SUPPLY 100% RENEWABLE ELECTRICITY: all residences are automatically included; aggregated (city or region-wide) electric purchasing enables significant discount
BUY INTO COMMUNITY SOLAR (currently in NJ trial; available ~2021). Promises to be a cheaper/easier alternative to rooftop solar; it should be easy to buy and sell.
ASK MEMBERS OF YOUR ORGANIZATION/ASSOCIATION/CHURCH TO JOIN TOGETHER AS AN ELECTRICAL AGGREGATION. Request bids from the lowest cost green suppliers to provide the aggregated 100% renewable electricity for all group members and associated facilities
SWITCH TO A GREEN/RENEWABLE ELECTRIC SUPPLIER for your home and/or business. This provides ~SAME environmental benefits as installing
solar panels, requires no up-front cost, and provides a small reduction in monthly utility bills
for the lowest cost renewable electric supplier among those licensed in NJ:
- Compare prices to JCP&L "price to compare": https://www.firstenergycorp.com/customer_choice/new_jersey/price_to_compare.html
- The lowest cost suppliers are archived, and linked at bottom of http://electric.smiller.org/suppliers.htm
Historically, residences save up to 7% and small businesses up to 10% of the energy portion of the electric bill, compared to JCP&L (electricity generated by polluting fossil fuel)
HOW DOES AN INDIVIDUAL SWITCH TO A RENEWABLE SUPPLIER?
· General information
is provided at http://www.nj.gov/bpu/residential/ ; Renewable Energy Certificates and http://www.renewablechoice.com/wp-content/uploads/2015/10/Guide-To-RECs-White-Paper.pdf
· Traders buy contracts (for RECs from nation-wide Brokers of “sustainable” certified
contracts are audited, to ensure compliance to NJ license requirements
(separate audits ensure compliance with license requirements of each state
in which your broker does business).
US government high level view is provided at https://www.eia.gov/
HOW DO YOU PROCEED? On-line signup takes only
your latest electric bill in hand, fill out the form at the chosen vendor's website
your choice of 1, 2, or 3 year contract
new electric supplier (at a new lower price) will be shown on your monthly
JCP&L bill, ~ 2months after signing up (delay may be 3 or 4 months for small commercial business). It may be labeled "Energy Charge" (~66% of the total bill)
will continue their customary charges for "delivery service"
RENEW AT CONTRACT END. You receive a
letter 1-2 months before contract end. Follow
the letter's directions, and you may receive an ADDITIONAL renewal discount from published prices for new customers. Call or use web site to renew. If you do nothing, you will be switched to a
month-to-month variable (higher OR lower) rate for your sustainable electric. While you are month-to-month, you can call your broker to switch back to JCP&L
(might take 2 months for the switch).
BACK TO OVERVIEW: http://www.electric.smiller.org FURTHER INFO:http://electric.smiller.org/renewable-discussion.htm
NOTES: NJ Electric suppliers are required to meet "Renewables Portfolio Standard". RPS requires ~20% (in 2019) of electricity must be renewable. The RPS increases each year, until electricity reaches50% renewable in 2030.
This report was updated by Steve Miller 12/12/2019