New Jersey's solar incentive programs have been among the most valuable in the country for homeowners. The original SREC (Solar Renewable Energy Certificate) program has transitioned to the Successor Solar Incentive (SuSI) program — but the core concept remains: NJ homeowners with solar panels earn ongoing income or credits based on the electricity their system generates, on top of all other savings.
New Jersey's SREC market allowed solar owners to earn tradeable certificates for every 1,000 kWh (1 MWh) their system produced. These certificates were sold to utilities required to source a portion of their power from solar. The SREC market was highly variable — prices fluctuated based on supply and demand, making income unpredictable.
New Jersey replaced the SREC program with the Successor Solar Incentive (SuSI) program, which offers residential homeowners a fixed, administratively-set rate per kWh generated for 15 years. The key advantage of SuSI over the old SREC system is predictability — you know exactly what your production incentive will be over the program term, making it much easier to calculate ROI and financing.
Current SuSI rates are updated periodically by the NJ Board of Public Utilities. Your installer will provide the current rate as part of your quote — and it will be locked in for your 15-year incentive term once you enroll.
The strongest financial case for NJ solar comes from stacking all available incentives:
Together, these incentives can reduce the effective cost of NJ solar by 50–60% over the program term, making NJ one of the best states in the country for solar ROI.
Takes less than 2 minutes. No commitment required. Licensed NJ contractors only.