Ranch Hope, an organization that provides short term services for at-risk youth, is enjoying the benefits of a recently installed 9.6 kilowatt solar array. The shelter hopes to see two more solar installations on its property in the near future since this one is so far working out so well. NJ.com reports,

With the support of the CORE program, Ranch Hope’s out-of-pocket expense for the project was $25,000,” said David L. Bailey Jr., CEO. “In the first three months since the solar panels were installed, the Ranch has saved $820, or 64 percent, on the electric bill for this building compared to last year.

“Couple this saving with the funds that will be generated through the sale of Solar Renewable Energy Credits (SRECs), the installation expense will be recouped in less than three years,” Bailey said.

Just so you know, this is not usual. Even installations with excellent ROI can take 5-10 years to pay for themselves.

The state drew public flak lasty year for running out of money for its CORE rebate program; at the time, New Jersey solar installations were being subsidized at about $4/watt, or at least half the installation cost of solar. Now, New Jersey offers a reasonable $1.55-1.75/watt for residential solar installations and $1/watt for commercial, relying on its growing SREC trading program to provide most of the financial incentives for solar within the state.

If you live in New Jersey and are now wondering if solar could be right for you–well, maybe it is. All you have to do is ask.