New Jersey Launches New Solar Incentive Program
This week, New Jersey marked progress in the solar energy industry. The Board of Public Utilities (NJBPU) agreed upon a new initiative called the Competitive Solar Incentive (CSI) Program with the aim of encouraging solar energy in NJ. This will be an essential part of New Jersey's Successor Solar Incentive initiative (SuSI) which will significantly grow the NJ Solar Program at a lower cost to residents.
"Our growing solar program, which includes not only CSI and ADI but also Community Solar, is one of the core programs in achieving Governor Murphy’s goal of a 100 percent clean energy future.” - NJBPU President Joseph L. Fiordaliso
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NJ Competitive Solar Incentive (CSI) Program
The new CSI program focuses on promoting the installation of at least 300 MW of solar power annually for the next 3 years. Qualifying grid-supply solar installations, non-residential net-metered solar buildings (greater than 5MW), and eligible grid-supply solar installations coupled with energy storage are all eligible for the program.
The NJBPU has approved 5 different categories (or tranches) to focus their procurement. Basic Grid Supply and Storage paired with Grid Supply is the largest of the efforts targeting more than 140MW each. But Environmental Grid Supply including Contaminates Sites and Landfills is also an important focus with a target of 120 MW combined.
The NJ CSI Program has implemented citing restrictions for solar projects in NJ. These standards are established to minimize potential detrimental impacts on the environment. They are based on conditions outlined in the Solar Act of 2021.
NJ Solar Incentives 2022
There are over 600,000 homes in New Jersey powered by solar panels which generate about 6% of the state's electricity, which is more than double the nation's average. The NJ Solar industry employs over 6,000 people, which figures to increase as NJ Solar Incentives continue to grow.
NJ already incentives solar more than other states with a Sales Tax Exemption (currently at 6.6%) on solar installations and Property tax Exemptions on the increase of your home value (currently at 2.42%). Read more about NJ Solar Incentives.
New Jersey Solar
With this program, New Jersey continues to take the lead in moving America towards a cleaner energy future and promoting NJ Solar Incentives. NJ ranked #8 in 2021 in the National Solar Ranking (via SEIA) and looks to continue to improve in 2022 and 2023. NJ residents should be proud to be a part of a state making such progressive moves to fight climate change and improve NJ Solar incentives.
If you are a New Jersey resident and curious about how much your solar panel investment might be, you can request a free, no-obligation quote in the next few minutes. Or speak with a local solar advisor who can answer your questions about solar panels and incentives available to you.