The New Jersey Successor Solar Incentive (SuSi) Program: A Comprehensive Overview

The New Jersey Successor Solar Incentive (SuSi) Program, designed to bolster solar energy adoption, offers significant financial incentives for both residential and commercial solar installations. Here's a detailed look into how the program operates, its benefits, and the application process.

SuSi Program Structure

The SuSi Program is divided into two main categories:

• Administratively Determined Incentive (ADI): This covers net-metered solar projects up to 5 MW, which includes most residential and many commercial installations.
• Competitive Solar Incentive (CSI): For projects over 5 MW, this operates through competitive solicitations aimed at larger grid supply projects.

Incentive Details

• Residential Incentives: Homeowners receive $85 per SREC-II, where one SREC-II is generated for every 1,000 kWh of solar energy produced. For a system producing 15 MWh annually:
  • Annual SREC-II Earnings: 15 SREC-IIs * $85 = $1,275
  • Total Over 15 Years: $1,275 * 15 = $19,125
• Commercial Incentives: Commercial properties receive $110 per SREC-II. For a system producing 120 MWh annually:
  • Annual SREC-II Earnings: 120 SREC-IIs * $110 = $13,200
  • Total Over 15 Years: $13,200 * 15 = $198,000

SuSi Application Process

1. Pre-Approval: Before installation, systems must be pre-approved. This involves submitting system details for review to ensure compliance with program criteria.
2. Installation: After approval, install your solar system. Ensure it meets all the pre-approved specifications.
3. Registration: Register your system with the NJBPU or through an authorized program administrator to start participating in the SuSi program.
4. SREC-II Generation: Your system generates SRECs-II, which are then sold or traded. The value of these certificates is fixed by the program.
5. Incentive Payments: Over 15 years, you receive payments based on the SRECs-II your system produces.

Additional Benefits

• Property Tax Exemption: Solar installations are exempt from increased property taxes due to the added value of solar panels.
• Sales Tax Exemption: Equipment for solar installations is exempt from sales tax, reducing initial costs.
• Federal Tax Credit: The Residential Clean Energy Credit offers a 30% tax credit on installation costs, set to decrease over time.

Program Impact

The SuSi program not only aims to increase solar adoption but also to reduce reliance on fossil fuels, lower electricity costs for participants, and stimulate job growth in renewable energy. By offering predictable, long-term incentives, it provides a stable financial framework for solar investment for solar in New Jersey.

SuSi is a Powerful Program

The New Jersey SuSi Program stands as a robust financial mechanism to encourage solar energy adoption. With clear financial benefits, streamlined processes, and additional state and federal incentives, it makes solar energy a more accessible and financially viable option for both residential and commercial sectors in New Jersey. This initiative not only supports environmental goals but also offers economic benefits for participants, setting a model for solar incentive programs nationwide.