In July 2008, the New Jersey Board of Public Utilities (NJBPU) directed the four Electric Distribution Companies (EDCs) to develop long term contracting or financing programs for the development of solar energy systems.  Since then, the NJBPU has approved innovative financing program at all four of the states electric utilities to support the installation of solar photovoltaic systems that produce clean, renewable electricity for customers' onsite use.

In all of the programs, Solar Renewable Energy Credits (SRECs) generated by the solar energy systems will be sold at auction to energy suppliers who are required to purchase a certain quantity of SRECs to meet their Renewable Portfolio Standard requirements.  These programs are expected to spur additional investment in the State's solar industry.

SRECs which accrue from the EDC Solar Finance programs are auctioned with the proceeds used to recover program costs.  More information about the auctions including the auction results can be found here.

 Learn more about financing programs in specific utility areas.

On March 29, 2010 New Jersey Natural Gas submitted a RGGI filing to implement certain energy efficiency programs and a solar energy program.  The procedural schedule outlines the timeframe for review of the filing.

In addition to the program offered by the utilities, the State of New Jersey Green Homes Office offers a MultiFamily Solar Funding Project.