Great news for New Jersey businesses considering solar – the NJ Successor Solar Incentive (SuSI) has increased for commercial solar projects!
As of March 2023, the Administratively Determined Incentive (ADI) SREC-II has increased for commercial solar rooftop and carport projects (see NJBPU Order here):
- Projects less than 1MWdc: increased from $0.10/kWh to $0.11/kWh, a 10% increase
- Projects greater than 1MWdc: increased from $0.09/kWh to $0.10/kWh, an 11% increase
Ground mount projects will also receive an increase:
- Projects from 1MWdc to 5MWdc: increased from $0.08/kWh to $0.085/kWh, a 6% increase
This incentive will apply to solar facilities that submit new registrations and for registrations that have previously been registered in the ADI Program but have not yet been issued permission to operate from the utility company.
As an example, the following site in Piscataway, NJ with a 550 kW system will either have a payback less than 4 years under a cash purchase, or more than 70% Year 1 savings on electric consumption costs under a Power Purchase Agreement with no capital budget expended.
Request a SkyQuote or reach out to info@onswitchenergy.com to discuss how to leverage these incentives for energy savings.
