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New Jersey Solar Incentives
Imagine never having to worry about the rising costs of electricity. New Jersey wants you to 'go solar' and they have created the right incentives for you to do so.
If they sound complicated, don't worry. We make it easy for you.
New Jersey's renewable portfolio standard (RPS) is one of the most aggressive in the United States. All energy suppliers (utilities) are required to obtain 22.5% of their power from renewables by 2021. A total of 2.12% is required to come from energy generated by solar power systems.
As a result, the energy produced by your solar electric system has additional value because the utilities need it to meet these standards. This creates a market for Solar Renewable Energy Certificates (SRECs), also know as "Green Tags." To a system owner, this is worth about $250.00 per year per kilowatt-hour generated.
New Jersey's 1999 electric restructuring legislation provides for investments in energy efficiency and renewable energy through a "Societal Benefits Charge" (SBC) collected from all customers of electric public utilities. In March 2001, the New Jersey Board of Public Utilities (BPU) approved funding for renewable-energy programs, including a customer-sited renewables rebate program for homes, businesses, institutions and non-profit facilities.
Solar systems must include at least a five-year, all-inclusive warranty. Eligible solar systems should be sized to produce no more than 100% of the historical or expected (if new construction) amount of electricity consumed at a system's site. Financial incentives for solar systems larger than 1 megawatt (MW) are available through the state's Renewable Energy Project Grants and Financing Program.
Residential PV Rebates
PV systems (solar electric systems) are eligible for incentives paid incrementally, based on the size of the solar system installed (DC rating). Note that single-family rebate applications are limited to the first 10 kW of project capacity. The rebate is reduced by 15% for owner-installed solar systems.
- $2.25 per watt for the first 10 kW of solar system capacity
The New Jersey Clean Energy Program web site provides all application materials, complete funding schedule and information about current incentive levels. Visit the NJCEP website for the latest statistics on the number and types of projects supported through this incentive program.
Solar Renewable Energy Certificates
Solar Renewable Energy Certificates provide an additional income stream beyond your electricity savings.
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Incentives 
