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What solar incentives are available in New Jersey?
As a homeowner in New Jersey, you have access to several different tax incentives that make solar panels more affordable. Solar incentives are available at both the federal and state levels to help you save thousands on your investment in solar energy.
Solar Calculator is here to help you take the next step in your transition to renewable energy. Below, we’ll discuss some of the different ways you can make solar more affordable.
Federal solar incentives
As part of the Inflation Reduction Act of 2022, congress passed several clean energy provisions to reduce energy costs. Among those provisions was an extension and upgrade of the Federal Investment Tax Credit (ITC).
Federal Investment Tax Credit
The Federal ITC allows you to claim 30% of your total equipment and installation costs on your federal taxes. There is no minimum or maximum amount you can claim and it includes equipment, installation, permitting, and even battery storage.
The ITC will remain at 30% until December 31, 2032. After that it will be reduced to 26% until December 31, 2033, then to 22% the following year. The ITC is currently set to disappear in 2035 unless it is renewed.
Who is eligible for the Federal ITC?
Most homeowners will qualify for the Federal ITC, but not all. You must meet the following criteria to claim your 30% tax credit:
The Federal ITC will also cover the following expenses:
Homeowners save around $10,000 on average with the Federal ITC. But that number can be higher or lower depending on your total expenses.
How to claim the Federal ITC
Claiming your Federal ITC couldn’t be easier. All you have to do is fill out IRS form 5695 and submit it with your tax return. You can consult with a tax professional for more assistance.
Local solar incentives
Who’s eligible : Schools
How to apply : In July 2002, New Jersey’s governor signed Executive Order No. 24 requiring all new school designs to incorporate LEED Version 2.0 guidelines in order to achieve maximum energy efficiency and environmental sustainability in school facilities. The Executive Order also requires that the New Jersey Economic Development Authority establish a subsidiary corporation, The New Jersey Schools Construction Corporation (SCC), to be responsible for the school facilities project and the state’s compliance with the new order. The SCC was subsequently replaced by the New Jersey Schools Development Authority (SDA) in 2007. The SDA mandates that all projects must incorporate the guidelines developed by the United States Green Building Council known as Leadership in Energy and Environmental Design (LEED), “LEED for Schools.”
Who’s eligible : State Government
How to apply : In January 2008, New Jersey enacted legislation mandating the use of high performance green building standards in new state construction. The standard requires that new buildings larger than 15,000 square feet constructed for the sole use of state entities should be designed and managed to meet high performance green building standards. The law allows for exceptions from specific requirements in cases of practical difficulty. These exceptions only apply to the specific requirement in question and do not extend to all requirements. With some exceptions the state is also required to purchase Energy Star products when available, a provision adopted in 2007. Executive Order 24 requires that all new public schools must conform with the LEED Version 2.0 guidelines to achieve maximum energy efficiency and environmental sustainability.
Who’s eligible : Investor-Owned Utility
How to apply : In January 2018, the Governor of New Jersey established a goal of 3,500 megawatts (MW) of offshore wind energy development by 2030 with the signing of Executive Order 8. In November 2019, Executive Order 92 increased the goal to 7,500 MW by 2035. The goal was again increased by Executive Order 307, and currently requires 11,000 MW of offshore wind by 2040.
Who’s eligible : Commercial, Industrial, Nonprofit, Residential, Schools
How to apply : New Jersey has enacted three separate laws addressing local permitting practices for solar and wind energy facilities. The first deals with solar and wind facilities located in industrial-zoned districts; the second with wind energy devices sited on piers; and the third addresses permitting standards small wind energy devices in general. All three are described below. Solar and Wind as Permitted Uses in Industrial Zones In March 2009 the state enacted legislation (A.B. 2550) defining facilities engaged in electricity production using solar energy technologies, photovoltaics, and wind energy systems as permitted uses in industrial-zoned parcel(s) of 20 contiguous acres or more. In order for the wind or solar facility to qualify as a permitted use, the parcel(s) must be owned by the same person or entity. This law applies universally in all municipalities in the state. Wind as a Permitted Use on Piers In February 2011 the state enacted legislation (S.B. 212) stating that wind dependent energy devices located on a pier within 500 feet of the mean high water line of tidal waters may not be prohibited. Facilities must meet other applicable laws and regulations and be an accessory use to other uses or purposes of the pier. The New Jersey Department of Environmental Protection has adopted amendments to the administrative rules governing energy facilities in coastal zones to effectuate this law. The current rules, which have been adopted and re-adopted as special amendments, are set to expire May 29, 2020. Standards for Municipal Small Wind Regulations Separately, in January 2010, New Jersey enacted legislation designed to prevent municipalities from adopting regulations that place unreasonable limits or hinder the performance of small wind energy systems. Small wind energy devices must be used primarily to produce energy for on-site consumption* and are defined to include the wind turbine, tower, and associated control devices. The law identifies a series of possible restrictions that would be considered unreasonable, as follows: Outright prohibition of small wind energy systems in all districts of a municipality Generic height restrictions that do not specifically address the allowable tower height or system height (tower plus the affixed wind generator) of small wind energy systems Property boundary setback requirements greater than 150% of the system height. Smaller setback requirements are permitted by the adoption of a regulation or through a zoning variance, but the standard setback is set at 150% of the system height if a municipality declines to adopt a specific setback requirement. Setting maximum noise limits lower than 55 decibels at the property line or not allowing the limit to be exceeded during short-term events such as power outages or wind storms. Setting structural or design standards that exceed the State Uniform Construction or technical bulletin(s) to be developed by the Division of Codes and Standards within the New Jersey Department of Community Affairs. The law requires that wind energy systems comply with all Federal Aviation Administration (FAA) regulations and applicable airport zoning regulations. It also includes rules and processes for the removal of out of service or abandoned wind turbines, to be accomplished at the owner's expense. In 2015, the NJ Administrative Code entries were re-codified from Title 7: Environmental Protection, Chapter 7E to Title 7, Chapter 7: Coastal Zone Management Rules. *While the state law does not include any specific size limitations on individual systems, it does allow for the possibility of system size restrictions as part of State Uniform Construction Code or the technical bulletin to be developed by the Division of Codes and Standards.
Who’s eligible : Commercial, Industrial, Local Government, Nonprofit, Residential, Schools, State Government, Federal Government, Agricultural, Institutional
How to apply : New Jersey's interconnection standards apply statewide to all electric distribution utilities, but not to the small number of municipal utilities and electric cooperatives in the state. The current standards include the following basic provisions: Systems powered by Class I renewable energy resources are eligible. This includes solar, wind, fuel cells powered by renewable fuels, geothermal technologies, wave or tidal action, landfill gas, anaerobic digester gas, and sustainable biomass. There are three different levels of review procedures for applications, depending on size and certification. Level 1 applies to inverter-based systems with a capacity rating of 10 kilowatts (kW) or less that are certified by a nationally-recognized testing and certification laboratory as meeting IEEE 1547 and UL 1741 compliance standards. Level 2 applies to systems with a maximum capacity of 2 MW that are certified by a nationally-recognized testing and certification laboratory as meeting IEEE 1547 and UL 1741 compliance standards. Level 3 applies to systems that do not qualify for either the Level 1 or Level 2 interconnection review procedures. Fees vary by level. There is no fee for Level 1 interconnection. Level 2 interconnection may include a fee of $50 plus $1 per kW of capacity, as well as the costs of minor system modifications and additional review (subject to BPU approval). Level 3 may include a fee of $100 plus $2 per kW of capacity, as well as charges for actual time spent on any impact and/or facilities studies required by the standard. Charges for additional review under Level 2 or impact or facilities studies under Level 3 may not exceed $100 per hour. Utilities may not require Level 1 and Level 2 customer-generators to install additional controls or external disconnect switches not included in the equipment package, to perform or pay for additional tests, or to purchase additional liability insurance. Interconnection to networks is permitted. Utilities must file interconnections reports with the BPU twice annually. Reports must list, by Class I technology type, the total number of interconnected customers, the total generating capacity of interconnected customers, and the total number of customers interconnected since June 15, 2001. Interconnection contacts for the state's electric distribution utilities -- Atlantic City Electric, Rockland Electric, PSE&G, and Jersey Central Power and Light -- are available on the program web site listed at the top of this page. The program web site also contains an on-line form for making complaints to the New Jersey Board of Public Utilities (BPU) in the event that a dispute cannot be resolved directly with the utility. Separate standardized interconnection agreements are used for systems of 10 kW or less and systems larger than 10 kW. These agreements are available on the interconnection web sites of the individual utilities. History Legislation enacted by New Jersey in February 1999 required electric distribution companies to offer net metering to residential and small commercial customers with photovoltaic and wind-energy systems. To implement net metering the New Jersey Board of Public Utilities (BPU) adopted interim standards in 2001. In September 2004, the BPU adopted final rules that substantially increased the types and size of systems eligible for interconnection. The final rules clarified and simplified interconnection for most residential and small commercial facilities. In January 2008, S.B. 2936 made substantial amendments to the net metering law (and interconnection law by extension), most notably extending net metering to large commercial and industrial customers and expanding the list of eligible technologies to include all "Class I" renewable energy resources. The interconnection rule revisions adopted in January 2010 implicitly incorporated these changes by using the definition of "customer-generator" contained in the net metering rules. Other major changes made by the January 2010 adoption include: (1) separating the interconnection rules from the net metering rules and relocating them to a separate section of the administrative code, (2) removing prior language that appeared to limit the standards to systems of 2 MW or less; and (3) adding new interconnection reporting requirements for utilities. The May 2012 adoption made a variety of clarifying changes focused primarily on procedural matters such as timelines, deadlines, and notification requirements.
Can you claim multiple tax incentives in New Jersey?
Yes. You are allowed to claim multiple solar incentives for the same installation. However, you can only claim each incentive once. For more guidance on how to claim your solar tax incentives, talk to your installer or consult with a licensed tax professional before submitting your tax forms.
Does New Jersey offer tax exemptions?
Energy Standards for Public Buildings
Category : Regulatory Policy
Website : https://www.njsda.gov/Design/SustainableSchools
Applicable Sectors : Schools
Incentive Amount :
Implementing Sector : State
Category : Regulatory Policy
Website :
Applicable Sectors : State Government
Incentive Amount :
Implementing Sector : State
Offshore Wind Energy Target
Category : Regulatory Policy
Website : https://dep.nj.gov/offshorewind/
Applicable Sectors : Investor-Owned Utility
Incentive Amount :
Implementing Sector : State
Solar/Wind Permitting Standards
Category : Regulatory Policy
Website :
Applicable Sectors : Commercial, Industrial, Nonprofit, Residential, Schools
Incentive Amount :
Implementing Sector : State
Interconnection
Category : Regulatory Policy
Website : http://www.njcleanenergy.com/renewable-energy/programs/net-metering-and-interconnection/interconnection-forms
Applicable Sectors : Commercial, Industrial, Local Government, Nonprofit, Residential, Schools, State Government, Federal Government, Agricultural, Institutional
Incentive Amount :
Implementing Sector : State
PACE Financing
Category : Financial Incentive
Website : https://www.njeda.gov/c-pace/
Applicable Sectors : Commercial, Industrial, Nonprofit, Schools, Agricultural, Multifamily Residential
Incentive Amount :
Implementing Sector : State
Category : Financial Incentive
Website :
Applicable Sectors :
Incentive Amount :
Implementing Sector : State
Performance-Based Incentive
Category : Financial Incentive
Website : https://www.njcleanenergy.com/renewable-energy/programs/susi-program
Applicable Sectors : Commercial, Industrial, Local Government, Nonprofit, Residential, Schools, State Government, Agricultural, Multifamily Residential, Low Income Residential, Institutional
Incentive Amount : Net-Metered Residential: $85/SREC-II Small Net-Metered Non-Residential located on Rooftop, Carport, Canopy and Floating Solar Projects smaller than 1 MW (dc): $110/SREC-II, $130 for public entities Projects 1 MW to 5 MW (dc): $100/SREC-II, $120 for public entities Net Metered Non-Residential Ground Mount Projects smaller than 1 MW (dc): $90/SREC-II, $110 for public entities Projects 1 MW to 5 MW (dc): $85/SREC-II, $105 for public entities Community Solar Permanent Program (LMI only): $90/SREC-II Interim Subsection (t) Grid: $100/SREC-II Subsection (t) applies to facilities located on brownfield, properly closed landfill, or historic fill sites.
Implementing Sector : State
Category : Financial Incentive
Website : https://njcleanenergy.com/renewable-energy/programs/susi-program/csi-program
Applicable Sectors : Commercial, Industrial, Local Government, Nonprofit, Schools, State Government, Agricultural, Institutional
Incentive Amount : Determined by applicant bids on a per-project basis.
Implementing Sector : State
Energy Storage Target
Category : Regulatory Policy
Website : https://www.njcleanenergy.com/storage
Applicable Sectors : Investor-Owned Utility
Incentive Amount :
Implementing Sector : State
Renewables Portfolio Standard
Category : Regulatory Policy
Website : http://www.njcleanenergy.com/renewable-energy/program-activity-and-background-information/rps-background-info
Applicable Sectors : Investor-Owned Utility, Retail Supplier
Incentive Amount :
Implementing Sector : State
Solar/Wind Access Policy
Category : Regulatory Policy
Website :
Applicable Sectors : Residential
Incentive Amount :
Implementing Sector : State
Loan Program
Category : Financial Incentive
Website : http://www.energyfinancesolutions.com/forhomeowners-nj-energy-star
Applicable Sectors : Construction, Residential
Incentive Amount :
Implementing Sector : Utility
Category : Financial Incentive
Website : https://www.savegreenproject.com/businesses
Applicable Sectors : Commercial, Industrial, Local Government, State Government, Federal Government, Installers/Contractors
Incentive Amount :
Implementing Sector : Utility
Rebate Program
Category : Financial Incentive
Website : https://www.southjerseygas.com/Save-Energy-Money/Save-Energy-Money.aspx
Applicable Sectors : Residential, Multifamily Residential
Incentive Amount : Appliance Rebates Clothes Washer: $50 - $100 Clothes Dryer (Gas): $200 HVAC & Water Heating Gas Storage Tank Water Heater: $250 - $450 Tankless Water Heater: $500 Indirect – Fired Storage Tank Water Heater: $250 Reset controls for boiler: $200 Gas Boiler: $750 - $850 Gas Furnace: $650 - $750 Gas Combi Heat: Up to $1,500 Qualifying Gas Heater: $1,300 - $1,500 Smart Thermostat: $100 Free Quick Home Energy Checkup (QHEC) See brochure for details Home Performance with ENERGY STAR® Program Up to $5,000 in rebates (Your contractor will explain the rebates available based on the improvements you choose.) Financing of up to $10,000 at 0% APR for 7 years OR up to $15,000 at 0% APR for 10 years with the On-Bill Repayment Program (OBRP). See brochure for details Home Weatherization for Income‑Qualified Customers See brochure for details
Implementing Sector : Utility
Category : Financial Incentive
Website : https://www.firstenergycorp.com/help/electric-vehicles/nj-ev/new-jersey-ev/jcpl-ev-driven-program.html
Applicable Sectors : Commercial, Residential, Multifamily Residential
Incentive Amount : Residential make ready infrastructure: Utility-side: up to $5,500 per site Customer-side: up to $1,500 per port Multifamily make-ready infrastructure Utility-side: up to $11,100 per site Customer-side: up to $6,700 per port (up to $8,375 in overburdened communities) Workplace make ready infrastructure: Utility-side: up to $11,100 per site Customer-side: up to $5,000 per port Public Level 2 make ready infrastructure: Utility-side: up to $11,100 per site Customer-side: up to $6,700 per port Public DCFC make ready infrastructure: Utility-side: up to $50,500 per site Customer-side: up to $25,000 per port
Implementing Sector : Utility
Category : Financial Incentive
Website : https://homeenergy.pseg.com/
Applicable Sectors : Residential, Multifamily Residential, Low Income Residential
Incentive Amount : Appliance Rebates Air Purifiers: $50 Dehumidifiers: $35 Room Air Conditioners: $30 Ventilation Fans: $20 Washers & Dryers: up to $300 Refrigerators: up to $75 Smart Thermostats: up to $100 Heat Pump Water Heaters: up to $1,000 Tankless Water Heaters: up to $500 Gas Storage Water Heaters: up to $450 Appliance Recycling Refrigerator: $100 Freezer: $100 Room AC: $35 Dehumidifier: $35 Lighting Discounts See program Website for details. HVAC Incentives vary widely, See program Website for details.
Implementing Sector : Utility
Category : Financial Incentive
Website : https://www.njeda.com/njzip/#eligibility
Applicable Sectors : Commercial, Local Government, Nonprofit, Schools, Institutional
Incentive Amount : 8,501 - 10,000 lbs (Class 2): $20,000 10,001 - 14,000 lbs (Class 3): $50,000 14,001 - 16,000 lbs (Class 4): $65,000 16,001 - 19,500 lbs (Class 5): $75,000 19,501 - 26,000 lbs (Class 6): $90,000 26,001 - 33,000 lbs (Class 7): $130,000 33,000 + lbs (Class 8): $175,000 Woman, minority, or veteran owned business: 4% bonus per vehicle Small business: 25% increase in base voucher amount per vehicle NJ manufacturing bonus: 25% increase in base voucher amount per vehicle EJ bonus: 10% increase in base voucher amount for small business or municipal vehicles that commit to travel in Environmental Justice areas for 50% of the next 3+ years.
Implementing Sector : State
Category : Financial Incentive
Website : http://njcleanenergy.com/renewable-energy/programs/energy-storage
Applicable Sectors : Commercial, Industrial, Local Government, Nonprofit, Schools, State Government, Federal Government, Appliance Manufacturers
Incentive Amount :
Implementing Sector : State
Category : Financial Incentive
Website : http://www.njcleanenergy.com/commercial-industrial/programs/large-energy-users-program
Applicable Sectors : Commercial, Industrial, Federal Government
Incentive Amount : $0.33 per projected kWh saved; $3.75 per projected Therm saved; Minimum incentive amount of $100,000
Implementing Sector : State
Category : Financial Incentive
Website : http://www.njcleanenergy.com/commercial-industrial/programs/local-government-energy-audit/local-government-energy-audit
Applicable Sectors : Local Government, Nonprofit, Schools, State Government, Federal Government, Tribal Government
Incentive Amount : 100% of Energy Audit cost
Implementing Sector : State
Category : Financial Incentive
Website : https://www.njcleanenergy.com/commercial-industrial/programs/pay-performance/new-construction/new-construction
Applicable Sectors : Commercial, Industrial, Local Government, Nonprofit, Schools, State Government, Federal Government, Institutional
Incentive Amount : Awarded based on completion of three program milestones See Program Guide for full details. Existing Buildings Incentive 1: Energy Reduction Plan $7,500-$50,000, $0.15/sq ft, not to exceed 50% of facilities annual energy expenditure; Incentive 2: Installation of Recommended Measures 25% of the total project cost; Base incentive 15% savings: $0.09/kWh saved, $0.90/Therm saved For each % over 15%: $0.005/KWh saved, $0.05/Therm saved Maximum Incentive: $0.11/kWh saved, $1.25/Therm saved Incentive 3: Post-Construction Benchmarking Report Incentive cap is 25% of total project cost Enhanced incentives are equal to an additional 100% of the incentives #2 and #3 listed above. The incentives are subject to a cap of 80% of the Applicant’s cost for the project allocated between Incentive #2 and #3: Incentive 2: Installation of Recommended Measures Electric Savings Additional Incentive: $0.09-$0.11/per projected kWh saved Gas Savings Additional Incentive: $0.90-$1.25/per projected Therm saved Incentive 3: Post-Construction Benchmarking Report Electric Savings Additional Incentive: $0.09-$0.11/per projected kWh saved Gas Savings Additional Incentive: $0.90-$1.25/per projected Therm saved New Construction Minimum Cost Reduction 15% - Multifamily 5% - All Other Incentive 1: Proposed Energy Reduction Plan $0.10/sq ft for ERP +0 -1.9% above $0.12/sq ft for ERP +2 – 4.9% above $0.14/sq ft for ERP +5% or greater Maximum: $50,000.00 Pre-Design Bonus: $0.04/sq ft Maximum Bonus : $20,000.00 Incentive 2: Installation and Commissioning of Measures +0 – 1.9%: $1.00/sq ft +2 – 4.9% : $1.20/sq ft +5% or greater: $1.40/sq ft Incentive 3 : Building Performance Flat: $0.40/sq ft Commercial and Multifamily Incentive 1: Proposed Energy Reduction Plan $0.08/sq ft for ERP +0 -1.9% above $0.10/sq ft for ERP +2 – 4.9% above $0.12/sq ft for ERP +5% or greater Maximum: $50,000 Pre-Design Bonus: $0.04/sq ft Maximum Bonus $20,000 Incentive 2: Installation and Commissioning of Measures +0 – 1.9%: $0.80/sq ft +2 – 4.9%: $1.00/sq ft +5% or greater: $1.20/sq ft Incentive 3 : Building Performance Flat: $0.35/sq ft
Implementing Sector : State
Category : Financial Incentive
Website : https://www.njcleanenergy.com/smartstart-new-construction-buildings
Applicable Sectors : Commercial, Industrial, Local Government, Nonprofit, Schools, State Government, Federal Government, Agricultural, Institutional
Incentive Amount : Varies widely by equipment type, size and efficiency.
Implementing Sector : State
Category : Financial Incentive
Website : https://nj.myaccount.pseg.com/myservicepublic/electricvehicles
Applicable Sectors : Commercial, Investor-Owned Utility, Residential
Incentive Amount : Residential: $1,500 for Level 2 EVSE make-ready infrastructure. $5,000 discount for utility-side make-ready costs. Commerical: $7,500 per Level 2 EVSE Port for make-ready infrastructure. Discount of up to $10,000 in utility-side make-ready costs. Public DCFC: $25,000 per port for make-ready infrastructure. Discount of up to $50,000 for utility-side make-ready costs.
Implementing Sector : Utility
Category : Financial Incentive
Website : https://chargeup.njcleanenergy.com/
Applicable Sectors : Residential
Incentive Amount : $25 per mile of EPA-rated all-electric range
Implementing Sector : State
Category : Financial Incentive
Website : http://www.njcleanenergy.com/residential/programs/comfort-partners/comfort-partners
Applicable Sectors : Residential, Multifamily Residential, Low Income Residential
Incentive Amount : Direct installation, no cost to recipient
Implementing Sector : State
Category : Financial Incentive
Website : http://www.savegreenproject.com/homeowners
Applicable Sectors : Residential, Low Income Residential
Incentive Amount : HVAC and Water Heating Equipment Water Heater: $Up to 250 Tankless Water Heater: Up to $500 High Efficiency Furnace: Up to $1,300 High Efficiency Boiler: Up to $1,500 Clothes Dryer: $200 Clothes Washer: Up to $100 Central AC: Up to $500 Air Source Heat Pump: Up to $1,000 Ductless Mini-Split Heat Pump: $400 Ductless Mini-Split AC: $500 Whole-Home Efficiency Incentives:Rebate of $2,000 at up to 5% energy savings, then a $150 rebate for each additional percentage of savings up to $5,000. Not to exceed 50% percent of the costs of eligible measures. Smart Thermostat: $100 On-Bill Repayment Program: Available for qualified customers
Implementing Sector : Utility
Category : Financial Incentive
Website : https://www.njcleanenergy.com/residential/programs/residential-new-construction
Applicable Sectors : Construction, Residential, Multifamily Residential, Low Income Residential
Incentive Amount : Incentives depend on the HERS score and the classification See the Incentive Schedule for more information.
Implementing Sector : State
Grant Program
Category : Financial Incentive
Website : https://bizsave.pseg.com/home/direct-install/
Applicable Sectors : Investor-Owned Utility, Local Government, Nonprofit, Municipal Utilities, Cooperative Utilities, Schools, State Government, Federal Government, Tribal Government, Institutional
Incentive Amount : Audit and 100% upfront cost coverage of measures.
Implementing Sector : Utility
Category : Financial Incentive
Website : https://www.njcleanenergy.com/ev
Applicable Sectors : Commercial, Local Government
Incentive Amount : $5,000 for Level 2 Chargers $50,000 for DC Fast Charging Stations
Implementing Sector : State
Category : Financial Incentive
Website : https://www.njcleanenergy.com/commercial-industrial/programs/electric-vehicle-programs
Applicable Sectors : Commercial, Local Government, Schools, State Government
Incentive Amount : $4,000 for Battery Electric Vehicles $5,000 for Level 2 Charging stations $5,000 for make-ready Level 2 infrastructure. $50,000 for DCFC stations. $50,000 for make-ready DCFC infrastructure.
Implementing Sector : State
Category : Financial Incentive
Website : http://www.njcleanenergy.com/commercial-industrial/programs/combined-heat-power/combined-heat-power
Applicable Sectors : Commercial, Industrial, Local Government, Nonprofit, Schools, State Government, Federal Government, Agricultural, Multifamily Residential, Institutional
Incentive Amount : Varies by system type and size. Incentive design includes: Capacity based per KW incentive
Implementing Sector : State
Category : Financial Incentive
Website : https://www.drivegreen.nj.gov/plugin.html
Applicable Sectors : Commercial, Local Government, Nonprofit, Schools, State Government, Multifamily Residential, Institutional
Incentive Amount : Public charging stations: Up to 100% costs (government) or 80% of costs (private) Workplace charging stations: Up to 60% of costs Multi-unit dwelling charging stations: Up to 60% of costs Corridor charging stations: Up to 100% of costs (government) or 80% of costs (private)
Implementing Sector : State
Generation Disclosure
Category : Regulatory Policy
Website : https://njcleanenergy.com/environmental-information-disclosure-0
Applicable Sectors : Investor-Owned Utility, Municipal Utilities, Cooperative Utilities
Incentive Amount :
Implementing Sector : State
Building Energy Code
Category : Regulatory Policy
Website : http://www.state.nj.us/dca/divisions/codes/codreg/
Applicable Sectors : Commercial, Residential
Incentive Amount :
Implementing Sector : State
Category : Regulatory Policy
Website :
Applicable Sectors : Construction, Residential
Incentive Amount :
Implementing Sector : State
Industry Recruitment/Support
Category : Financial Incentive
Website : https://njcleanenergy.com/renewable-energy/technologies/wind/wind
Applicable Sectors : Commercial, Industrial
Incentive Amount : 100% of the qualified capital investment
Implementing Sector : State
Category : Financial Incentive
Website : https://www.njeda.com/edison-innovation-green-growth-fund/
Applicable Sectors : Commercial, Industrial, Federal Government
Incentive Amount : Varies; loans from $250,000 - $2 million available
Implementing Sector : State
Category : Financial Incentive
Website : https://www.njeda.com/edison-innovation-green-growth-fund/
Applicable Sectors : Commercial, Industrial
Incentive Amount : Grants: up to $300,000 Loan: Up to $ 3 million
Implementing Sector : State
Community Solar Rules
Category : Regulatory Policy
Website : https://njcleanenergy.com/renewable-energy/programs/community-solar
Applicable Sectors : Commercial, Industrial, Local Government, Nonprofit, Residential, Schools, State Government, Federal Government, Agricultural, Multifamily Residential, Low Income Residential
Incentive Amount :
Implementing Sector : State
Category : Regulatory Policy
Website : https://njcleanenergy.com/renewable-energy/programs/susi-program/adi-program
Applicable Sectors : Commercial, Industrial, Investor-Owned Utility, Local Government, Nonprofit, Residential, Schools, State Government, Multifamily Residential, Low Income Residential
Incentive Amount :
Implementing Sector : State
Net Metering
Category : Regulatory Policy
Website : http://www.njcleanenergy.com/renewable-energy/programs/net-metering-and-interconnection
Applicable Sectors : Commercial, Industrial, Local Government, Nonprofit, Residential, Schools, State Government, Federal Government, Tribal Government, Agricultural, Institutional
Incentive Amount :
Implementing Sector : State
Personal Tax Exemption
Category : Financial Incentive
Website : https://www.state.nj.us/treasury/taxation/zevnotice.shtml
Applicable Sectors : Residential
Incentive Amount : 100% exemption from sales and use tax for zero-emission vehicles
Implementing Sector : State
Other Incentive
Category : Financial Incentive
Website : https://www.panynj.gov/bridges-tunnels/en/e-zpass.html
Applicable Sectors : Residential
Incentive Amount :
Implementing Sector : State
Public Benefits Fund
Category : Regulatory Policy
Website : http://www.njcleanenergy.com/main/public-reports-and-library/program-budgets-and-filing/program-budgets-and-filing-0
Applicable Sectors : Commercial, Industrial, Investor-Owned Utility, Local Government, Nonprofit, Municipal Utilities, Residential, Cooperative Utilities, Schools, State Government, Federal Government, Agricultural, Institutional
Incentive Amount :
Implementing Sector : State
Appliance/Equipment Efficiency Standards
Category : Regulatory Policy
Website : http://www.state.nj.us/bpu/
Applicable Sectors :
Incentive Amount :
Implementing Sector : State
Sales Tax Incentive
Category : Financial Incentive
Website :
Applicable Sectors : Commercial, Industrial, Residential
Incentive Amount : 100% exemption
Implementing Sector : State
Property Tax Incentive
Category : Financial Incentive
Website :
Applicable Sectors : Commercial, Industrial, Residential
Incentive Amount : 100% of value added by renewable system
Implementing Sector : State
Category : Financial Incentive
Website : http://www.state.nj.us/agriculture/sadc/news/hottopics/
Applicable Sectors : Agricultural
Incentive Amount : Varies
Implementing Sector : State
Solar Renewable Energy Credit Program
Category : Financial Incentive
Website : http://www.njcleanenergy.com/srec
Applicable Sectors : Commercial, Construction, Industrial, Nonprofit, Residential, Schools, Installers/Contractors, Agricultural
Incentive Amount : Determined by the market. In June 2016, SREC traded at an average price of $229.90.
Implementing Sector : State
Energy Efficiency Resource Standard
Category : Regulatory Policy
Website :
Applicable Sectors : Investor-Owned Utility, Municipal Utilities, Cooperative Utilities, Retail Supplier
Incentive Amount :
Implementing Sector : State
What is the best way to pay for solar?
Cash payments
Paying cash upfront is easily the simplest and most cost-effective route — if you can afford it. It lets you maximize your total savings by avoiding interest rates and other fees. You also don’t have to worry about making monthly payments. But the downside is you have to spend a lot of cash at once which isn’t an option for everyone.
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Financing
Financing solar panels is probably the most common payment method. You get to own the system — as opposed to leasing — but you don’t have to spend all your cash at once. And although you do have to pay interest, you can secure a fairly low interest rate as long you have good credit.
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Solar leases and PPA agreements
If purchasing solar equipment isn’t an option for you, a lease or a PPA may be worth exploring. This is where you are essentially “renting” the equipment for a fixed rate each month. And although you don’t have ownership of your system, there are other benefits such as maintenance and servicing agreements.
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Going solar doesn’t have to break the bank
Going solar is becoming more affordable than ever. And thanks to a variety of solar incentives in New Jersey, you can save thousands more on your investment.
Want to get an idea for what it will cost you to go solar? You can use our solar cost calculator to generate a customized estimate instantly. We take into consideration a wide range of criteria including location, electric bill, roof size, and other factors. Try it out today and start planning for your future.
