New Jersey Solar Incentives
*Federal & State Tax credits are subject to individual tax liability*
Federal Tax Credit
The Federal Government offers a tax credit that covers 30% of a solar system’s overall cost. The credit is a dollar-for-dollar credit against your personal income taxes. The entire amount can be claimed in one year and it will come back on the following tax return.
Successor Solar Incentive Program (Administratively Determined Incentive (ADI) Program)
Through the ADI program under SuSI, New Jersey’s net-metered residential solar owners earn one certificate for every 1,000 kWh of electricity their solar system generates for 15 years. These certificates – called SREC-II’s – are worth $85 each for solar systems registered after March 13, 2023.
Net Metering
Earn credit for solar generation that is exported to the grid based on the retail price of electricity, known as a 1-to-1 credit. This credit is used to offset the cost of using grid electricity when their solar panels aren’t producing. Unused credits roll over from month to month, and at the end of the annual billing cycle net metering customers receive a credit for excess generation at the wholesale rate of electricity.
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