Solar already generates over7% of New Jersey’s energy needs.
Plus, New Jersey has decided to make renewable energy a priority.
By 2030, that percentage increases to 50%.
In turn, you’ll reduce yourcarbon footprintand save money.
Here’s what you oughta know about solar incentives in the state.
Can solar panels save you money?
Interested in understanding the impact solar can have on your home?
Enter some basic information below, and well instantly provide a free estimate of your energy savings.
Each state was evaluated through amethodologyand scored based on eight categories.
The final score was converted to a letter grade.
All you’re gonna wanna do isfill out the applicable form.
To qualify, you’ll need toapply for a certificationwith your tax assessor.
Successor Solar Incentive Program
This is New Jersey’s solarrenewable energy certificateprogram.
For each megawatt-hour you generate, you receive an SREC-II certificate.
For residential solar arrays you’ve got the option to get$85 per megawatt hour.
This includessolar panels, geothermalheat pumps,solar water heaters, fuel cells andsolar batteries.
There is no cap on the amount you could claim.
New Jersey net metering rules for solar energy
New Jersey has anet meteringprogram.
You canuse the credits toward your energy billthroughout the year.
You’ll receive payment for whatever excess remains at the end of a 12-month contract year.
This “true up” occurs once a year, at the end of your contract year.
This can mean15% to 25% in savings on their electricity.
