"Crius Solar is honored to formally become a part of New Jersey's full-service solar energy community," explained Christian McArthur, Executive Vice President. "Recent enhancements to our solar capabilities will help the Crius Solar team expertly manage a customer from interest through to installation, delivering a superior, worry-free solar experience that helps the environment and our customers' energy budgets."
In addition to solar energy system installations, Crius Solar will offer customers in New Jersey an exclusive, low rate on 100% green energy supply through its sister brand, Better Business Bureau A+-rated Everyday Energy. Designed to deliver value to Crius Solar customers before panels are even on the roof, the innovative ConnectNow electricity product bridges homeowners to the time when they will be generating their own clean, affordable energy.
"We're thrilled that one of the three states to reach 1 GW of installed solar capacity is also where Crius Solar begins to turn our vision of providing a better solar experience into reality," McArthur noted. "As one of the few full-service solar energy providers integrated with a leading retail energy supplier, Crius Solar is uniquely positioned to raise the bar on going solar in New Jersey. We look forward to serving residents of The Garden State for decades to come."
As of the end of 2015, New Jersey had 1,839 MW of installed solar capacity, ranking it fourth nationally. A key driver of this sustained solar demand is the full sales tax exemption offered on all solar equipment. This exemption eliminates the state's normal 7 percent sales tax and reduces the effective cost of solar equipment in New Jersey. This state incentive is in addition to the recently extended solar Investment Tax Credit (ITC) provided by the U.S. federal government. The ITC currently allows homeowners to subtract up to 30% of the amount spent on a solar energy system from their tax bill, thus effectively reducing the overall amount paid. New Jersey residents also benefit from some of the nation's best solar policies including net metering, where solar homeowners receive bill credits for their solar electricity, a statewide solar renewable portfolio standard and accompanying solar Renewable Energy Credit (SREC) market.
Crius Solar's parent company, Crius Energy, recently announced two transactions designed to expand and rapidly transform its solar energy business. The Company acquired a proprietary residential solar technology platform, customer lead databases, marketing materials and human capital from SunEdison in September 2016 and is set to acquire certain residential solar installation assets from Verengo Solar. Once complete, the Company's solar business will transition from a solar product reseller to a fully integrated solar company with the technology, team, expertise, and a track record of more than 20,000 residential solar installations dating back to 2008. Crius Solar plans to leverage these enhancements, as well as innovative bundled products from Crius Energy, to provide additional customer value and claim marketshare in the fast-growing solar energy industry.
About Crius Solar
Crius Solar is an exciting and rapidly growing member of the Crius Energy family of brands that bridges the gap between the retail and solar energy industries. Our services span the entire solar project lifecycle including marketing, sales, design, installation and financing solutions. Our goal is to transform the traditional utility model by promoting the spread of a greener, more sustainable source of energy to everyday homeowners while also saving them money relative to their current electric utility. Learn more at: http://www.criussolar.com/
SOURCE Crius Solar