New Jersey has a competitive solar incentive program called the New Jersey Competitive Solar Incentive “CSI” Program. The program is open to qualifying grid supply solar installations and non-residential net metered solar installations with a capacity greater than five (5) megawatts (“MW”), as well as to eligible grid supply solar installations in combination with energy storage. Selected solar projects will secure New Jersey Solar Renewable Energy Certificates (SREC-IIs).
In addition to the state rebate program, there are other incentives available to New Jersey residents:
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Federal Solar Investment Tax Credit (ITC):
Homeowners that qualify for the Solar ITC can take advantage of a tax credit for 30% of the total purchase price of their solar system, no matter the system size or cost. This credit applies to all solar projects that begin construction in 2023 and will last through 2033, at which point it will drop to 26%.
Net Metering:
Net metering in New Jersey is a billing arrangement for solar panel owners that credits them for excess electricity they generate. When your solar panels produce more energy than your home consumes, the surplus is fed back into the grid and credited to your account, effectively spinning your meter backward. These credits can then be used to offset future electricity consumption, resulting in lower energy bills. Net metering promotes the efficient use of solar power, reduces reliance on fossil fuels, and supports the transition to clean energy. By participating in net metering, you not only save money but also contribute to a more sustainable energy future while helping maintain grid stability in New Jersey.
Utility Rebates:
New Jersey has a number of utility companies that offer rebates for solar installations. For example, Atlantic City Electric offers a rebate of $0.50 per watt for residential solar installations and $0.25 per watt for commercial installations. PSE&G offers a rebate of $0.50 per watt for residential solar installations and $0.25 per watt for commercial installations.
Further information and programs can be found at the Programs.Dsireusa.org
