p s e g r0006 frequently asked questions residential（g p s e r0006常见问题住宅）.docVIP

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p s e g r0006 frequently asked questions residential（g p s e r0006常见问题住宅）.doc

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p s e g r0006 frequently asked questions residential（g p s e r0006常见问题住宅）

PSEG R0006 Frequently Asked Questions Residential What is the PSEG Solar Loan Program? Why did PSEG initiate the Solar Loan Program? Who is eligible to participate? Who is eligible for net metering? What are the benefits of this program for residential customers? What is the size and cost of a typical residential solar electric system, and how much will I save? Where can I get more information about how solar energy works? How does the residential PSEG Solar Loan Program work? What advantages does the Solar Loan Program have over a bank loan? What exactly is a Solar Renewable Energy Certificate (SREC)? When do SRECs start accumulating? How will PSEG track my SREC repayments? What is the loan interest rate? How long is the loan repayment period? How much of the cost of the solar electric system will be covered by the PSEG loan? When will PSEG pay me the money I am borrowing under the loan program? Will PSEG give me some form of a commitment for the loan? How will I know that the system will produce sufficient SRECs to be able to repay the loan? What happens if my system doesn’t perform as well as predicted? What if the value of SRECs is higher than $475? Will my loan be repaid sooner than 10 years? What other incentives are available for solar installations? Are Solar Loan Program participants eligible for rebates provided through New Jersey’s Clean Energy Program? What happens if I sell my house? How does a residential solar electric system work? What is net metering? Can I have a solar electric system on my house and still be connected to PSEG? Will the solar system continue to operate if PSEG experiences an electric outage? Will my system work at night or on cloudy days? What steps should I take if I am interested in getting started with solar? What if I have additional questions? What is the PSEG Solar Loan Program? PSEG has committed to provide approximately $105 million toward the financing of solar electric system installa