The New Jersey Successor Solar Incentive (SuSI) Program is the new solar incentive program for the state of New Jersey, taking over from the Transition Incentive (TI) Program, which acted as a stopgap program following the closure of the Solar Renewable Energy Certificate (SREC) Program a number of years ago. The TI Program closed to new applicants—with a couple of exceptions noted here—on Friday, August 27, 2021 at 11:59:59 p.m. EST, opening the door for the launch of the SuSI Program.
The SuSI Program is made up of two subprograms—The Administratively Determined Incentive (ADI) and The Competitive Solar Incentive (CSI). The ADI went live on August 28, 2021 after the closure of the TI Program, with the CSI expected to launch in early-to-mid 2022 following further communication between the New Jersey Board of Public Utilities (NJBPU) and stakeholders regarding the development & design of the CSI.
New Jersey Successor Solar Incentive Subprograms
As noted, the SuSI Program is divided into 2 subprograms, detailed below.
- The Administratively Determined Incentive (ADI): The ADI provides administratively-set tiered incentives for:
- Net metered residential projects
- Net metered non-residential projects 5 MW or less
- All community solar projects
- (On an interim basis) Projects which were previously eligible to seek conditional certification under Subsection (t)
- The Competitive Solar Incentive (CSI): The CSI, projected to launch in early-to-mid 2022, will provide competitively-set incentives for:
- Grid supply projects
- Net metered non-residential projects greater than 5 MW
What Projects are Eligible for the New Jersey Successor Solar Incentive?
The SuSI Program will offer incentives for projects in every sector of the solar industry, including residential, commercial, industrial, and community solar projects. This will ease the path to development for homeowners and businesses, as well as solar projects constructed on landfills and brownfields across New Jersey. Market segments covered by the NJ SuSI Program include:
- Net Metered Residential
- Small Net Metered Non-Residential on Rooftop, Carport, Canopy and Floating Solar
- Large Net Metered Non-Residential on Rooftop, Carport, Canopy and Floating Solar
- Small Ground Mount Net Metered - Non-Residential
- Large Ground Mount Net Metered - Non-Residential
- Community Solar Non-LMI
- Community Solar LMI
- Interim Subsection (t)
How Much is the New Jersey Successor Solar Incentive (SuSI) Worth?
The SuSI Program offers tiered incentives, tailored to each individual market segment. The different incentive values for each market segment are outlined in the table below.
New Jersey SuSI Program Incentive Values
| Market Segment | Size (MWdc) | Incentive Value ($/SREC-II) | Incentive Value for Public Entities ($/SREC-II) |
|---|---|---|---|
| Net Metered Residential | All types and sizes | $90 | N/A |
| Small Net Metered Non-Residential on Rooftop, Carport, Canopy and Floating Solar | Projects smaller than 1 MW | $100 | $120 |
| Large Net Metered Non-Residential on Rooftop, Carport, Canopy and Floating Solar | Projects 1 MW to 5 MW | $90 | $110 |
| Small Ground Mount Net Metered Non-Residential | Projects smaller than 1 MW | $85 | $105 |
| Large Ground Mount Net Metered Non-Residential | Projects 1 MW to 5 MW | $80 | $100 |
| Community Solar Non-LMI | Up to 5 MW | $70 | N/A |
| Community Solar LMI | Up to 5 MW | $90 | N/A |
| Interim Subsection (t) | All types and sizes | $100 | N/A |
The New Jersey Successor Solar Incentive is worth $100/SREC-II for small net metered non-residential projects less than 1 MW on rooftop, carport, canopy, and floating solar. The NJ SuSI is worth $90/SREC-II for large net metered non-residential projects between 1 MW and 5 MW on rooftop, carport, canopy, and floating solar. Small ground mount net metered non-residential projects less than 1 MW are worth $85/SREC-II, while large ground mount net metered non-residential projects between 1 MW and 5 MW are worth $80/SREC-II. Non-LMI community solar projects up to 5 MW are worth $70/SREC-II, whereas LMI community solar projects up to 5 MW are worth $90/SREC-II. Net metered residential projects of all types and sizes are worth $90/SREC-II under the New Jersey Solar Successor Incentive Program. For full details of the tiered incentives of varying values available under the NJ SuSI Program, please refer to the table above.
If you’d like to learn more about New Jersey solar and find out just how much you could save on your utility bill, then reach out to YSG Solar. YSG has been working in the solar sector for over a decade and will guarantee the best return on your investment. Call the office now at 212.389.9215 or send us an email today.
YSG Solar is a project development company responsible for commoditizing energy infrastructure projects. We work with long-term owners and operators to provide clean energy assets with stable, predictable cash flows. YSG's market focus is distributed generation and utility-scale projects located within North America.
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Featured Photo by Raphael Cruz on Unsplash.
