Electricity In New Jersey

There are 14 companies in New Jersey providing electricity. Of those 14, 64.29% of them offer some type of net metering option for their customers, making solar panels and alternative electric sources more economically viable. The state has highly favorable net metering and feed in tariffs that make solar and other types of electricity generation more attractive.

New Jersey has 3 providers who are reporting energy loss during transmission activities. The average energy loss amount for these 3 companies is 0.67%. For comparison, the countrywide average electricity loss is 2.76%. New Jersey has a rank of 49th best in the country for energy loss.

When it comes to stimulating personal solar, tax and rebate incentives from the government are some of the easiest methods. New Jersey, unfortunately, has no statewide tax credits offered to residents who install solar. The state has no all encompassing rebate program, but local rebates are available to many consumers who wish to purchase private solar panels at their place of residence. New Jersey residents have the ability to apply a 100% property tax exemption for the purchase of private solar, which is as good as it gets. Luckily, homeowners in the state have a 100% sales tax exemption for the purchase of solar at a home. This is as good as it gets.

Policies enacted at the state level affect whether customers in a state can afford to purchase personal solar systems or find electric plans that are based on renewable fuel sources. States that have Renewable Portfolio Standards (RPS) have requirements in place for all electricity providers who do business in the state. These standards require that a certain amount of electricity must be produced from renewable energy. The state of New Jersey makes it necessary for electric suppliers to produce at least 25% of their electricity from renewable fuel types.