New Jersey has now moved ahead of California to become the nation’s largest commercial solar market.
However, there are concerns about how long the state can maintain that ranking.
A federal grant program for solar installations is scheduled to expire at the end of the year. Dennis Wilson, president of Mid-Atlantic Solar Energy Industries Association, said Thursday that could slow New Jersey’s solar market.
The pace of solar installation is exceeding the minimum needed to meet the state’s renewable energy standard. Wilson said that’s also affecting the market and deterring solar investment.
“When there’s much lower prices and uncertainty going forward, it makes it much more difficult to finance projects because there isn’t any certainty in terms of what the return on investment will be,” said Wilson.
Because of a backlog of projects already under way or in the pipeline, Wilson anticipates robust solar construction in New Jersey at least until the middle of next year.