There are several New Jersey solar incentives, which are only applicable to solar system owners. One of these incentives is the Solar Renewable Energy Certificate II (SREC II) program. For every megawatt-hour (MWh) of solar energy your system produces, you earn one SREC, which can be sold for additional income. The state also offers local rebates and incentives to reduce the cost of solar panel installation. Additionally, homeowners can benefit from federal tax credits, which cover 30% of the total solar installation costs. The federal tax credit for solar installations is set to decrease in 2032, making now the ideal time to go solar and maximize your financial savings. The federal solar tax credit combined with New Jersey solar incentives make solar power a financially smart investment for New Jersey residents, helping to lower the cost of going solar and increase long-term savings. For many homeowners, an outright solar investment is still not financially feasible. The Sunrun Solar Subscription solves for this by providing customers with long term savings without the upfront costs and personal liability. 

The cost of solar depends on a couple of factors. First and foremost, are you going to purchase your solar panels or participate in a Sunrun Solar Subscription plan? While both plans will provide long-term cost savings, solar system ownership may require a large upfront investment. With the Sunrun Solar Subscription you pay as little as $0 down and over a 25 year period you’ll pay part of your energy to bill to Sunrun instead of your utility and at a lower, fixed rate. This is known as a power purchase agreement (PPA).

If you choose the subscription plan, your monthly Sunrun rate will depend on your energy usage, your home’s sunlight exposure, and whether or not you have a backup battery. By meeting with one of our local New Jersey energy consultants, you can have your home and energy usage assessed to get a customized savings proposal. Our expert consultants will ensure your custom rooftop solar system is optimized to offset the energy you produce, minimizing your monthly utility bill. 

New Jersey homeowners can enjoy numerous advantages from installing solar panels and battery storage systems. These systems provide greater energy independence by allowing you to generate and store your own electricity, reducing reliance on the grid and ensuring backup power during outages—especially important with New Jersey's frequent storms. Financially, solar installations help stabilize monthly utility bills and protect against rising electricity rates. Owned systems also increase property values, offering a significant return on investment.

From an environmental standpoint, solar energy reduces your carbon footprint, supporting a cleaner, more sustainable future for New Jersey. There are strong New Jersey solar incentives, including the Solar Renewable Energy Certificate II (SREC II) program and property tax exemptions, which, combined with the federal solar tax credit, make solar more affordable. Additionally, New Jersey has made solar more accessible by passing laws to protect homeowners against HOA rules that, in the past, have inhibited solar installation. Battery storage optimizes energy use during peak demand periods, helping to lower costs and contribute to a more resilient energy grid for all New Jersey residents. By going solar, you’re also supporting the growth of the renewable energy sector in the state, further driving clean energy adoption and local job creation.