In October 2023, the Solar Incentives NJ Program will surpass $200 million dollars in certificate payments since the September 2020 inception of the program.
To help control costs for rate payers amidst a recent spike in interest rates, the Solar Incentives NJ Program Administrator evaluated the invoicing process with the New Jersey Electric Distribution Companies (EDCs) to determine the most efficient and financially responsible mechanism to deliver certificate payments to system owners. A new process has thus been adopted which achieves cost control for all utility customers and is compliant with the current Solar Incentives NJ payment process detailed here: Payment Process Diagram. However, the new process will require more time within the allowable process timeframe, resulting in an additional 20 days’ processing time for payments.
For example, an eligible certificate delivered to the Solar Incentives NJ Program GATS account in July 2023 previously would have been paid around September 16, 2023 but now payment would be expected to be received in system owner’s bank accounts around October 5, 2023.
We apologize for any inconvenience this change in process may cause, but we believe that this enhancement in the overall process is ultimately beneficial to the program and customers.
If you have any questions regarding this announcement, please contact the Program Administrator by phone at (877) 754-3149 or via email at [email protected].