We, the concerned residents, solar customers, and supporters of clean energy in New Jersey, call on the Legislature to reject Bill A5460.

From 2010 to 2020, more than 118,000 residential and 6,000 commercial customers across the state installed solar systems under the promise of the state’s SREC program. These investments were made in good faith, with the understanding that while SREC prices might vary with market conditions, they would not be subject to sudden and drastic reductions that would devalue their investment. Many customers financed their systems and rely on SREC income to help make loan payments.

Under A5460, the proposed changes to the SACP would cause a collapse in SREC prices, turning solar from a cost-saving investment into a financial liability for thousands of families.

Consider this real-life example from Jumping Brook Drive in Lakewood, NJ, in the very district where this bill originated. A solar system installed in early 2020, sized at 10.385 kW, was financed on a 15-year loan with a monthly payment of $246.56.

At June 2025 electric rates, it provides:
$213.75/month in electric bill savings
$202.50/month in SREC income (at $180/SREC)
Resulting in a net monthly savings of $169.69
If SREC prices fall to $50, the monthly SREC income drops to $56.25, and the net savings falls to just $23.44. If prices plummet to $10/SREC, the customer would actually lose $21.56 per month. Instead of saving money with solar, this elderly homeowner would be paying extra each month—through no fault of their own, and in direct contradiction to the expectations set when they went solar.

This isn’t an isolated case. Thousands of customers are in similar situations. Even more alarming, this bill sends a damaging message to future solar adopters—including those entering the Successor Solar Incentive (SuSI) program—that New Jersey cannot be trusted to uphold its solar incentive promises.

The solar industry in New Jersey is already grappling with high interest rates and rising material and labor costs. Passage of A5460 would be a devastating blow, further destabilizing the market and erasing years of clean energy progress.

We urge the New Jersey General Assembly to reject this bill in order to protect solar customers, restore trust in clean energy programs, and preserve the solar industry in our state.