Nj Solar Srec Program

New jersey srec program expected to close in late april.

Nj solar srec program.

While today marks the end of one chapter it also marks the beginning of a new chapter that i. What s next for solar incentives in new jersey. Please note that rebates are no longer available for solar projects. New jersey board of public utilities approves solar transition incentive program.

Save money while saving the planet. Trenton n j the new jersey board of public utilities njbpu today approved a new solar incentive program. The srec registration program srp is used to register the intent to install solar projects in new jersey. The srec ii program is designed to purchase srecs at a competitive fixed price for ten 10 years.

Nj srec market update. To aid in the transition from the current solar renewable energy certificate srec program. The new jersey board of public utilities released the final version of the trec program in march 2020. New jersey s wildly successful solar renewable energy credit srec program is quickly coming to an end.

New jersey s clean energy program is a statewide program that offers financial incentives programs and services for new jersey residents business owners and local governments to help them save energy money and the environment. All projects that are installed after october 29th 2018 and don t begin receiving srec payments before the program hits the 5 1 percent cap by april 30th 2020 are placed into the trecs program. Therefore njbpu is conducting a solar transition which includes the steps necessary for the closure of the solar renewable energy certificate srec program upon njbpu s determination that the 5 1 milestone has been attained and the transition to a new still to be determined incentive program currently referred to as the successor. The clean energy act signed by governor phil murphy in may 2018 required the board to adopt regulations that close the srec program to new applications when 5 1 of the electricity sold in new jersey comes from solar or by june 2021 whichever comes first.

Market nearing closure and transition program. Registration provides market participants with information about the pipeline of anticipated new solar capacity and insight into future srec pricing. New jersey governor murphy signs sb s 4275 resolving transition incentive kink year issue. The new jersey board of public utilities njbpu this week declared that 5 1 of the retail electricity sold in the state is generated from solar power and therefore directed its staff to close the state s solar renewable energy certificate srec registration program effective april 30 2020.

Compare solar options on energysage. The transition incentive will serve as a bridge between the legacy srec program and a yet to be determined successor incentive program and will consist of factorized fixed price 15 year.