For years, New Jersey has had some of the most forward-thinking public policies and incentives for business and residents to invest in solar power. And while the incentives have dwindled, the public policies are still among the country’s most aggressive, according to Solar Power Rocks.
A group of young solar advocates committed to spreading the gospel of solar power, Solar Power Rocks has rated states for their underlying policies regarding the renewable energy and ranked New Jersey fifth.
According to the group, New Jersey gets an “A” for having a solar power carve-out in its renewable portfolio standard, net metering, tax exemptions, and performance payments. It’s 5-kilowatt payback period averages 8 years and allows for solar leasing. It calls the state's SREC program “rocking.”
The Renewable Portfolio Standard only gets a “B,” however, as does the average electricity cost. Solar interconnection also only gets a “B.” Meanwhile, state rebates and tax credits -- which have been phased out -- each earn an “F.” New York State was rated No. 1 in these categories, followed by Massachusetts, Connecticut, and Oregon. At the other end of the scale were Idaho, Arkansas, and Oklahoma.