Utility Solar Financing Incentive (ACE, JCP&L, RECO) (New Jersey)

(Redirected from EDC Solar Financing Incentive (ACE, JCP&L, RECO) (New Jersey))

This is the approved revision of this page, as well as being the most recent.
Jump to: navigation, search


Last modified on February 12, 2015.

Financial Incentive Program

Place New Jersey

Name Utility Solar Financing Incentive (ACE, JCP&L, RECO)
Incentive Type Other Incentive
Applicable Sector Fed. Government, Institutional, Local Government, Multi-Family Residential, Nonprofit, Residential, Schools, State Government, Tribal Government
Eligible Technologies Photovoltaics
Active Incentive No
Incentive Inactive Date 2011-07-25
Implementing Sector State/Territory
Energy Category Renewable Energy Incentive Programs

Start Date 2011-01-01

Program Administrator New Jersey Board of Public Utilities, Office of Clean Energy
Website http://www.njcleanenergy.com/renewable-energy/programs/srec-registration-program/edc-solar-financing-incentive
Date added to DSIRE 2011-01-07
Last DSIRE Review 2011-07-25
Last Substantive Modification
to Summary by DSIRE

References DSIRE[1]


Photovoltaic (PV) facilities connected to the distribution grid serving New Jersey are eligible to generate Solar Renewable Energy Certificates (SRECs), which energy suppliers in New Jersey use to fulfill their obligations New Jersey's renewable portfolio standard (RPS). As a result of the RPS obligations placed on energy suppliers, SRECs represent a potentially valuable incentive for owners of qualifying systems. Some electric distribution companies (EDCs) in New Jersey (Atlantic City Electric, Jersey Central Power and Light, and Rockland Electric Company) offer Solar Financing Programs which provide long-term SREC purchase contracts to qualifying system owners.* The New Jersey Clean Energy Program (CEP) offers an additional incentive for certain facilities that are enrolled in the Solar Renewable Energy Certificate (SREC) program and which also participate in the EDC Solar Financing programs through solicitations that occur during 2011. This additional incentive program is referred to here as the EDC Solar Financing Incentive (ESFI) program.

The ESFI program provides an incentive of $0.50/W DC for residential systems of up to 10 kilowatts (kW) and non-profit or publicly-owned systems of up to 50 kW. The incentive is capped at 7.5 kW for residential systems and 30 kW for non-profit and publicly-owned systems, leading to a maximum incentive of $3,750 for residential systems and $15,000 for non-profit and publicly-owned systems. Residential systems that use a lease or power purchase agreement (PPA) are eligible for this incentive program; however, non-profit and publicly-owned systems that use a PPA or other tax-advantaged financing may not participate.

In order to qualify to generate SRECs, solar systems must meet certain equipment and installation requirements, several of which are described below:

  • Systems must be new and have five-year all-inclusive warranty
  • PV modules must listed by UL (or another nationally recognized testing laboratory) and inverters must be UL-1741 and IEEE 929 compliant
  • Systems should be equipped with visual indicators and/or controls, have a monitoring capability that is readily accessible to the owner, and be equipped with an energy production meter that meets ANSI C.12 standards
  • Behind-the-meter systems must be sized so that annual output does not exceed annual on-site load

Applicants indicate their intent to participate in the ESFI program when they register their system in the SREC program. When an SREC Purchase and Sale Agreement is approved by the New Jersey Board of Public Utilities (BPU), the ESFI incentive will be reserved for the participant for 12 months from the date of the EDC contract.

*The other investor-owned EDC in New Jersey, PSE&G, offers the PSE&G Solar Loan Program rather than the long-term contract programs offered by other EDCs in New Jersey.

Incentive Contact

Contact Name New Jersey Clean Energy Program - SREC Registration Program
Department c/o Conservation Services Group

Address 75 Lincoln Highway, Suite 100

Place Iselen, New Jersey
Zip/Postal Code 08830
Phone (866) 657-6278

Website http://www.njcleanenergy.com/

Authorities (Please contact the if there are any file problems.)

Authority 1: N.J. Stat. § 48:3-60

Date Enacted 1999

  • Incentive and policy data are reviewed and approved by the N.C. Solar Center's DSIRE project staff.[1]


  1. 1.0 1.1  "Database of State Incentives for Renewables and Efficiency (DSIRE)"