New Jersey Solar Incentives

Find out what incentives the state of New Jersey offers to homeowners going solar.

The solar industry has been getting bigger in the US over the past decade. If you start thinking of going solar you should consider all the pros and cons of it.

Electricity prices in NJ are reported to be 30% higher than the US average, whereas the cost of going solar has dropped significantly. New Jersey doesn’t get that much sunshine with approximately 206 sunny days a year out of 365. But the state offers financial incentives, which make it one of the best states for solar.

Net metering

If your solar system produces more energy than you need, you are allowed to sell the difference back to the grid at the retail price. This makes your energy bills much lower and prevents excess electricity from going to waste.

Jersey Central Power & Light (JCP&L) and PSE&G offer net metering programs in New Jersey.

Transition Renewable Energy Certificates (TRECs)

Transition Renewable Energy Certificates (TRECs) provide incentives for all solar systems certified under the Transition Incentive (TI) Program.

  • You get one TREC for every 1000 kw/h
  • You sell your TRECs to companies supporting renewable energy
  • You receive your TREC payments
  • Successor Solar Incentive (SuSI)

    SREC-II certificates provide incentives for all solar systems certified under the Successor Solar Incentive (SuSI) Administratively Determined Incentive (ADI) Program.

    Under this program you can generate one certificate for every Mw/h. Its value can vary depending on the type of your system.

    New Jersey Solar Tax Exemptions

    There are tax breaks that help homeowners go solar:

  • Property tax exemption: homeowners don’t pay increased property taxes on the increased value of their homes - solar panels are excluded from them.
  • Solar sales tax exemption: when buying solar panels, homeowners don’t pay 7% sales tax.
  • The federal solar tax credit: it can help you reduce the cost of your solar system by up to 26% if you buy it with cash or a solar loan by December 31, 2022.
  • Contact us to learn more about incentives and rebates that are offered to homeowners going solar in New Jersey.

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