Solar  -  July 30, 2021

New Jersey Launches Solar Incentive Program

New Jersey hopes to double its solar capacity by 2026 under a new program approved July 28.

The New Jersey Board of Public Utilities (NJBPU) voted unanimously to implement the Successor Solar Incentive Program to support the construction of up to 3,750 MW in new solar generation by encouraging solar development while minimizing ratepayer cost. Once fully implemented, the program could allow solar energy to generate approximately 10% of New Jersey’s electricity needs.

The initiative includes a fixed incentive payment for net metered solar projects of 5 MW or less for 15 years, applicable for residential, commercial and industrial customers as well as community solar installations. The second part entails a solicitation designed to incentivize the lowest financial contribution from ratepayers for grid supply projects and net metered commercial and industrial projects larger than 5 MW.

“In establishing the SuSI Program, we are solidifying New Jersey as a magnet for green jobs and taking yet another step toward Governor Murphy’s goal of 100 percent clean energy by 2050,” NJBPU President Joseph L. Fiordaliso said in a statement. “This tremendous action has taken many perspectives into consideration and ensures the solar industry will remain a vibrant part of our clean energy innovation economy while prioritizing long-term affordability for ratepayers.”

Other incentives will be the provision of New Jersey Solar Renewable Energy Certificate-II for energy MWh of solar produced by a qualifying facility. Public entities will receive an extra $20 per MWh.

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