NJ SuSI Program

The New Jersey Clean Energy Act of 2018 directed the New Jersey Board of Public Utilities (NJBPU) to adopt rules and regulations to close the SREC Registration Program (SRP). The NJBPU has established the Successor Solar Incentive Program (SuSI Program) as the long-term solution.

The SuSI Program includes two sub-programs:

• The Administratively Determined Incentive (ADI) Program for systems under 5MW DC. Solar facilities that reached permission to operate after August 28, 2021, are to participate in the ADI Program.
• The Competitive Solar Incentive (CSI) Program for systems over 5MW DC. 

ADI (SREC-II) eligible projects can participate in the program for 15 years following the system’s Interconnection approval date. After 15 years, projects may be eligible for a NJ Class I REC.

System Eligibility and SREC-II Price

System Eligibility and SREC-II price offered to SuSI-eligible solar facilities is determined by the project type and classification within the system’s assigned State Certification Number (see table below). Program incentive values are periodically assessed and subject to change at the NJBPU’s discretion.

However, the changes will not impact facilities with an existing certification.  The SREC-II incentive level was adjusted for systems submitted to the ADI for Part 1 (pre-installation) approval after March 13, 2023. The most notable change in the pricing affects net metered residential systems, changing the pricing from $90/REC to $85/REC.

Payments

CSG offers a brokerage contract for the term of 15 years. The commission is set at 5% and is withheld from payment. Payments will be remitted quarterly. The SREC-II price offered to SuSI-eligible solar facilities is determined by the project type and classification within the system’s assigned State Certification Number awarded to the solar facility by the New Jersey Clean Energy Program (NJCEP) (see table below). Payments will be issued on a quarterly basis, which shall be due and payable within 45 days after the end of each quarter.

ADI Incentives (NJ-SREC-IIs) Per Market Segment