Solar

New Jersey Solar Market Report

Summary

The New Jersey solar sector saw a 5.5% increase in development from 2020 to 2021, but the market is facing a turbulent path ahead.

2021 was a banner year for New Jersey’s solar industry. The New Jersey Board of Public Utilities (NJBPU) announced the Successor Solar Incentive (SuSI) program, paving the way for up to 3,750 megawatts (MW) of additional solar generation by 2026. The SuSI program is projected to double the state’s current solar capacity of 3,826 MW.

In October 2021, due to the success of the community solar pilot program, Governor Phil Murphy announced that it will become permanent. Staff have been directed to plan a stakeholder input process for use by February 2022, which will be used to design the program.

However, the New Jersey solar industry faces potential barriers to success in the near future. A possible two-year lag in the PJM Interconnection process can delay front-of-the-meter (FTM) projects, which are often larger in capacity and essential to meet the state’s bold renewable portfolio standard (RPS) goals. In addition, there have been preliminary discussions within the NJBPU to reduce the value of the current solar incentives. These brief discussions do not guarantee that the agency will move forward with any drastic changes to the SuSI program, but highlight that there are still some political risks in New Jersey’s solar industry.

Nonetheless, New Jersey’s favorable solar incentive structure continues to attract major solar developers to the Garden State. At the end of Q4 2021, Vivint (acquired by SunRun) frontlined the residential behind-the-meter (BTM) solar leaderboard, with a 14.9% market share. Trinity Solar and Vision Solar closely followed, at 7.7% and 6.5% market share respectively. In the community solar sector, Solar Landscape leads the market with a whopping 36.5% of the market share, with Altus Power coming in second with 25.2%. 

Solar power purchase agreement (PPA) prices across all different system sizes continue to be extremely favorable in New Jersey. Retail electricity prices continue to be well above the national average, which makes it easier for BTM solar PPA prices to be competitive. 

Why market research?

As local markets change dynamically and policies remain difficult to navigate, clean energy organizations are currently forced to choose between the overwhelming flow of free information and high-priced market intelligence subscriptions that are often too expensive for small- and medium-sized firms.

At DG+, we provide succinct information that cuts through the noise and gets to the point. Reports include details on current events, opportunities and challenges, policy summaries, pricing analysis, and market share data.

See what's inside

New Jersey Solar Market Report

Q1 2022
New Jersey Solar Market Report
$ 95 

This DG+ New Jersey Solar Report provides an overview of the incentives that drive the New Jersey solar market, estimated PPA pricing, and market share data on solar installation leaders.

  • Evaluate new markets
  • Gauge market share
  • Find business opportunities
  • Educate your team
Buy now
New Jersey Solar Market Report
Inside This Report

What's included in
this report.

  • Highlights
  • Opportunities and Challenges
  • Recent News
  • Policy
  • Enacted Legislation
  • NJ Solar Carve Out, Annual Additions
  • State Policy Checklist
  • Breakdown of SuSI Factors and Prices
  • Market Size
  • Cumulative Grid-Connected Installed PV Capacity by Year (MW)
  • New Capacity by Utility (MW), Q1 2021 - Q4 2021
  • Solar Industry Jobs by Type, 2019
  • Map: New Capacity by Zipcode, Q1 2020 - Q4 2021
  • Utility Briefs
  • Residential BTM Utility Leaderboard, Q1 2021 - Q4 2021
  • Front-of-Meter Utility Leaderboard, Q1 2021 - Q4 2021
  • Non-Residential BTM Utility Leaderboard, Q1 2021 - Q4 2021
  • Community Solar Utility Leaderboard (All Time)
  • Utility Service Territories Map
  • Pricing Estimates
  • PPA Pricing Methodology
  • PPA Pricing By Project Size
  • Inputs and Assumptions
  • NJ PPA Price Comparison (c/kWh)
  • Market Share
  • Residential BTM Market Leaderboard, Q1 2021 - Q4 2021
  • Non-Residential BTM Market Leaderboard (> 25 kW), Q1 2021 - Q4 2021
  • Utility Front-of-Meter Market Leaderboard - Q1 2021 - Q4 2021
  • Community Solar Market Leaderboard - All Time
About the Reports

Frequently asked questions.

How do I access the report?

Simply add the products that you wish to purchase to your cart. Upon successfully checking out, you will receive a link to download each report as well as an email confirmation (with download links).

Do I need a subscription?

You do not need a subscription to access DG+ research products. Simply choose the products that you would like to purchase and check out by clicking on the cart in the upper right portion of your screen.

Do you have a subscription that I could sign up for?

At this moment, we do not have an online subscription for purchase. If you are interested in such a model, please contact us at research@dgplusdesign.com.

Will there be future reports?

We plan to release new reports each quarter. These reports may include updated versions of existing products or they will include new topics.

Can I get customized market research for my company?

Yes, we provide tailored market research and intelligence reports for businesses, educational institutions, policymakers, and more. To learn more, email research@dgplusdesign.com.

What do I get when I purchase?

By purchasing a report, you receive a non-exclusive, non-refundable, and non-transferable license that allows you to share the report within the same organization. You agree not to permit any unauthorized use, reproduction, distribution, or transmission of the information within this report without the express written permission of DG+.

Can I get a refund?

After you have purchased a report from DG+, you can request a refund within 5 days of receipt if you are unsatisfied for any reason. Please contact us at research@dgplusdesign.com and we will gladly refund  you 100% of the purchase price. For more information, view the DG+ Store Terms of Use.

How do I provide feedback?

We always appreciate hearing from interested individuals. Please email research@dgplusdesign.com to provide any feedback on our research products or to suggest a report topic.

Research

Check out our other reports.

CONTACT

Let’s talk about your marketing, research, and creative needs.

Simply fill out the form, book a meeting with us, or contact us directly. We're looking forward to hearing from you!