Solar Incentives and Rebates in New Jersey

Peak Sun Hours (PSH):		3.5-4
Cost of Grid Power:		$0.15/kWh
Number Of Installations:		133,849

What’s the Cost of Solar in New Jersey?

Cost of Grid Power

New Jersey's electricity prices average $0.16/kWh, slightly down from last year and slightly above the national average of $0.14/kWh.

Cost of a Solar Install

The average cost of a 6kW (equivalent to saving over 100 trees a year) solar power system starts around $14,000 in New Jersey. That system would pay for itself through energy savings within 6-7.5 years. System life can span well over 25 years, and savings will improve with inflation.

Garden State Solar

In 2019 New Jersey saw 5% of its net power generation from renewable sources, the majority of which came from solar. The state is also known for its community solar program. Right now the state's old Solar Renewable Energy Certificate (SREC) incentive program has been phased out in favor of its interim successor, the Transition Renewable Energy Certificate (TRECs) incentive program. Additionally, solar sales and property taxes are totally exempt in the state, and net metering rates are generally higher than the utility wholesale rate.

What Incentives are Available in New Jersey?

Data from DSIRE. For more info visit: https://www.dsireusa.org/

Name	Implementing Sector	Program Type	Administrator	DSIRE ID
Solar Easements	State	Solar/Wind Access Policy		19
Solar Energy Sales Tax Exemption	State	Sales Tax Incentive	New Jersey Division of Taxation	219
Environmental Information Disclosure	State	Generation Disclosure		565
New Jersey - Green Power Purchasing	State	Green Power Purchasing		898
Residential Solar Rights	State	Solar/Wind Access Policy		2722
High Performance Building Standards in New State Construction	State	Energy Standards for Public Buildings		3014
Property Tax Exemption for Renewable Energy Systems	State	Property Tax Incentive	New Jersey Department of the Treasury	3100
Solar and Wind Permitting Laws	State	Solar/Wind Permitting Standards		3929
Solar Energy Option Requirement for Residential Developments	State	Building Energy Code		4023
Wind Manufacturing Tax Credit	State	Industry Recruitment/Support	New Jersey Economic Development Authority	4360
Local Option - Property Assessed Clean Energy Financing	State	PACE Financing		5109
Local Energy Audit Program	State	Rebate Program	New Jersey Clean Energy Program (NJCEP)	5567
Solar Renewable Energy Certificates (SRECs) Registration Program	State	Solar Renewable Energy Credit Program		5687
SREC-Based Financing Program	Utility	Grant Program		5715
SREC-Based Financing Program (ACE, JCP&L, RECO)	Utility	Performance-Based Incentive		5716
New Jersey Natural Gas- SAVEGREEN Commercial On-Bill Financing Program	Utility	Loan Program		5728
South Jersey Gas Commerical and Industrial Loan Program	Utility	Loan Program		5729
New Jersey Energy Resilience Bank	State	Loan Program	New Jersey Economic Development Authority	5873
New Jersey Board of Public Utilities - NJ SmartStart Buildings	State	Energy Analysis	New Jersey Board of Public Utilities	14025
New Jersey Natural Gas - Energy-Saving Tips for Your Business	Utility	Training and Information	New Jersey Natural Gas	16416
New Jersey Board of Public Utilities - Pay for Performance	State	Energy Analysis		16482
New Jersey Board of Public Utilities - Renewable Energy Program	State	Energy Analysis	New Jersey Board of Public Utilities	16483
U.S. Department of Energy - Industrial Assessment Center (IAC): Lehigh University	Federal	Energy Analysis	U.S. Department of Energy	17594
New Jersey Board of Public Utilities - NJ Clean Energy Program	Other	Energy Analysis	New Jersey Board of Public Utilities	19788
South Jersey Gas - Business Services	Other	Energy Analysis	South Jersey Gas	19892
New Jersey's Clean Energy Program - Pay for Performance	State	Energy Analysis	New Jersey's Clean Energy Program	20368
New Jersey's Clean Energy Program - Energy Benchmarking	State	Energy Analysis	New Jersey's Clean Energy Program	20375
FirstEnergy Solutions - Power Management Platform	Other	Energy Analysis	FirstEnergy Solutions	21541
FirstEnergy Solutions - Business Energy Analyzer	Other	Energy Analysis	FirstEnergy Solutions	21635
First Energy - Business Energy Analyzer	Other	Energy Analysis		21638
New Jersey’s Clean Energy Program - Commercial Industrial and Local Government Programs	Utility	Other	New Jersey’s Clean Energy Program	21919
New Jersey Manufacturing Extension Program - Operational Excellence Program	Utility	Other	New Jersey Manufacturing Extension Program	21920
New Jersey Board of Public Utilities - Commercial Customers	Utility	Other	New Jersey Board of Public Utilities	21921
Northeast Energy Efficiency Partnerships - EM&V Forum	Non-Profit	Training and Information	Northeast Energy Efficiency Partnerships	22023
Energy Efficiency Resource Standard	State	Energy Efficiency Resource Standard		22051
Renewable Electric Storage Program	State	Rebate Program	NJ Clean Energy Program	22100
Energy Storage Procurement Target	State	Energy Storage Target		22114

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