NJ S664

Creates a "Solar Roof Installation Warranty Program" within the New Jersey Economic Development Authority to indemnify commercial, industrial, and institutional building owners for roof damage caused by solar photovoltaic equipment installation not covered by existing warranties or insurance.

Requires an initial transfer of $2 million from the societal benefits charge to establish a "Solar Roof Installation Warranty Fund," with additional $500,000 annual transfers until the fund reaches $5 million cumulative total.

Building owners must pay a $1,000 application fee to participate and demonstrate their solar installer does not offer a comprehensive 20-year roof warranty and no other insurance covers the installation.

Maximum payout from the fund for any single building claim is capped at $50,000, covering reasonable repair costs for roof damage resulting from solar equipment installation or design.

If fund balance drops below $2 million after reaching the $5 million threshold, a one-time supplementary transfer of $3 million will be made from the societal benefits charge.