by Magdalena Padilla, Esq., Senior Vice President of Government Affairs
The Board of Public Utilities’ (BPU’s) budget for Charge Up New Jersey (CUNJ) was approved for fiscal year 2026 on June 30, 2025, with an elevated funding level of $50 million for the second year in a row. The program introduced a new point-of-sale incentive of $1,500 and an income-qualified incentive of $2,500.
On July 1, 2025, the State’s program opened for the new fiscal year and started accepting new applications under the 2026 requirements. For those applications that were opened starting on July 1, 2025, the new incentive amount is a fixed incentive of $1,500 for eligible EVs up to an MSRP of $55,000. However, for income-qualifying applicants, an additional incentive in the amount of $2,500 may be available through pre-qualification for the Charge Up+ (CUNJ+) incentive. While New Jersey dealerships do not engage in the prequalification process, they help educate interested customers about the CUNJ+ incentive and encourage those who believe they may qualify to apply online. Customers interested in receiving the CUNJ+ incentive must apply online to be approved for the additional incentive amount and receive their pre-qualification code prior to initiating a purchase or lease with their preferred dealer.
CUNJ has evolved over the years since it was mandated by Governor Murphy’s signing of legislation on January 17, 2020. It iterated through different incentive offerings since January 2020. The first incentive was a post-purchase program, and all subsequent incentives have been point-of- sale programs. In addition to incentives for the purchase or lease of an electric vehicle, CUNJ offers the In-Home EV Charger Incentive for residential EV charging equipment, which provides an incentive of $250 for the purchase and installation of a networked Level 2 EV charger.
Additionally, in 2024, the CUNJ+ income-based incentive was created! Under the fiscal year 2026 iteration of the program, applicants eligible for CUNJ’s $1,500 incentive can also prequalify for the additional $2,500 CUNJ+ incentive if they satisfy the following modified adjusted gross income (MAGI) requirements:
- Maximum MAGI of $75,000 for single tax filers;
- Maximum MAGI of $112,500 for head of household tax filers; and
- Maximum MAGI of $150,000 for joint tax filers.
To be eligible for the CUNJ+ incentive, applicants must meet the MAGI requirements and all other requirements for a purchase, including the $55,000 MSRP cap.
For example, an applicant claimed as a dependent on another taxpayer’s state and/or federal income tax returns is not eligible for the CUNJ+ additional incentive.
CUNJ’s funding has remained constant. From its inception, it has been supported by the 10-year, non- lapsing Plug-in Electric Vehicle Incentive Fund. There are multiple sources of funding for the Plug-in Electric Vehicle Incentive Fund. One of them is the $30 million of annual funding from the Societal Benefits Charge (SBC).
Historic Seamless Transition
Between March and April 2025, NJ BPU provided an influx of $25 million specifically to keep the CUNJ EV incentive program open through the remainder of the fiscal year. This is in contrast to the prior year’s pauses between funding levels. The continuity in the program from one fiscal year to the next creates stability and ease of use for dealers and customers alike.
Additionally, it is noteworthy that the FY26 program continued the low-income incentive program. Continuing to provide an additional incentive for lower-income applicants is important for New Jersey’s underserved communities. Providing an additional incentive increases the pool of vehicle shoppers in an equitable manner and is important for low-to-moderate income residents in New Jersey’s under-served communities. In addition, it expands consumers’ access to affording electric vehicles.
Dealers want to sell what consumers want to buy; encouraging consumers to lean into an EV purchase is always easier when consumers are incentivized with funding for their purchase; and New Jersey has continued to do so. Lowering the base incentive will likely stretch the timeframe of the program, creating a longer period of time in which consumers can make a purchase with State support. ChargeUp+ was not reduced. This, support is especially important since the federal government EV incentive ended on September 30th, and New Jersey’s incentive will be the sole incentive available for EV consumers.
We agree that the EV incentive program is the right investment to bolster the administration’s EV policy goals, support equity approaches, and maintain consistent funding throughout the fiscal year.