National Solar Capacity Ranking: 10th
Data Current Through: Q3 2024
New Jersey has been an early leader in solar and perennial top ten solar state. The New Jersey Solar market continues to be see strong growth and is driven by net metering, a solar RPS and an accompanying SREC market.
5,479
10th (18th in 2023)
898,230 homes
7.68%
6,628
459 (79 Manufacturers, 257 Installers/Developers, 123 Others)
$15.3 billion
37% over the last 10 years
2688 MW over the next 5 years (ranks 22nd)
202,926
DSIRE incentives database – New Jersey – Search a public clearinghouse for specific solar energy incentives in New Jersey and across the United States
New Jersey Board of Public Utilities – Learn about the governing body that regulates the electricity rates and services of New Jersey public utilities
New Jersey’s Clean Energy Program – Find a wide variety of information on state government energy programs, policy, projects, energy-saving strategies and energy-related statistics
New Jersey Solar Panels Overview – Learn about the history of solar policy in New Jersey, along with up-to-date pricing information on EnergySage
New Jersey State Legislature – Track pending legislation affecting solar energy, locate and contact individual legislators, and stay up to date on current legislative issues in
Solar Panel Cost in New Jersey – Learn about the history of solar policy in New Jersey, along with up-to-date pricing information on EnergySage
Solar Rebates & Incentives in New Jersey – Check out EnergySage’s list of key solar incentives in New Jersey to see what programs you can benefit from
U.S. Energy Information Administration – New Jersey State Profile – Explore official energy statistics, including data on electricity supply and demand, from the U.S. government
New Jersey Energy Storage Policy and Market Overview
New Jersey has taken significant strides in stimulating a competitive energy storage market and has foundational policy, programs, and funding partners to reach energy storage milestones. Despite recent lags in progress, state legislators are finalizing the critical scaffolding supporting the energy storage through robust BTM and FTM incentives.
New Jersey became the 4th state to adopt an energy storage procurement policy with a mandate set at 2,000 MW by 2030 (A.B. 3723). The state is making progress towards this goal and has about 90 MW of storage. In 2022, the state proposed the New Jersey Energy Storage Incentive Program (SIP). As of 2024, the state BPU is actively navigating program rate design, adders, and utility feasibility for BTM and FTM incentives. Externally offered energy storage funding opportunities are available in New Jersey but have limited funds, narrow scopes, and asymmetrical funding windows.
New Jersey’s energy storage market has the optimal foundation to expand and attain the procurement mandate. The establishment of incentives programs will shift the market into a competitive atmosphere and aid both utilities and residential customers in successful deployment.
New Jersey Energy Storage Policy Resources