New Jersey
New Jersey Clean Energy Rebate Program empowered under the authority of NJ's Electric Discount and Energy Competition Act, enacted in 1999, it applies to commercial, residential, nonprofit, schools and institutional sectors.
Although recognized as a national model this statewide program is a moving target of rebates for installations, consumer appliance rebates and incentives. The most successful, the Customer On-site Renewable Energy Program (CORE) has paid over $32 million in solar rebates, and has another $76 million in outstanding commitments as reported on 7/13/07. Applications for CORE rebates have been closed pending complete funding of the projects in queue.
Currently the state is transitioning to Solar Renewable Energy Certificate (SREC) programs. This is beneficial to individuals with currently operating solar electric systems connected to the grid. You must open an SREC account which allows a person or company to buy, sell, trade, or retire SRECs in New Jersey's Solar Renewable Energy Certificate Program.
Various proposals are now under consideration for continued financial support for New Jersey's solar market. More information is expected to be available in September 2007.
If you have a multifamily affordable housing project financed or refinanced with New Jersey Housing and Mortgage Finance Agency, be aware that incentives are still available throught the "SUNLIT" program.
For the individual interested in supporting solar use there is the CleanPower Choice Program provides a simple way for ratepayers to choose clean, renewable sources of energy in the state.
Press Release - September 12, 2007
New Jersey Board of Public Utilities
New Jersey Board of Public Utilities approves transformation of New Jersey's solar market
The New Jersey Board of Public Utilities (BPU) today unanimously approved the transition of New Jersey's solar program to a fiscally responsible market that will foster the continued growth of solar energy use in the State. This transition refines the Board's April 2006 Renewable Portfolio Standard (RPS) decision, which required that 22.5 percent of New Jersey's electricity must come from renewable sources, including 2 percent from solar electricity, by 2020. To meet these RPS goals, the BPU today established a solar market that focuses on the sale of Solar Renewable Energy Certificates (SRECs). Under this program, solar system owners earn SRECs for solar electricity production, which are registered and traded among electricity suppliers and other buyers within an established infrastructure. Electricity suppliers are required to buy the SRECs, or pay a Solar Alternative Compliance Payment (SACP) in lieu of purchasing SRECs. The Board today set an 8 year schedule for the SACP.
Today's Board decision is also a commitment to implement protections to safeguard against prohibitive costs to New Jersey's ratepayers while investing in the future of solar capacity in New Jersey. These protections include a limit on the total cost to ratepayers of meeting the solar RPS. In implementing these protective measures, the Board is harmonizing Governor Corzine's goals to provide renewable and low cost energy to the State. "In making today's decision on the future of solar in New Jersey, we are taking steps to align solar capacity and costs to be consistent with the priorities of the Governor's energy vision. Controlling the costs to the ratepayers will be a key aspect of our program,"said Jeanne M. Fox, BPU President. "We believe this strategy will spur both private and public investment in the solar market in New Jersey.