New Jersey Solar Renewable Energy Credits

Above all the state s renewable portfolio standard and associated solar renewable energy certificate srec market have.

New jersey solar renewable energy credits. By investing in renewable energy you can help protect the environment reduce our dependence on fossil fuels and lessen our carbon footprint. Transition renewable energy certificates trecs when you install your solar energy system it produces more than just electricity for every megawatt hour mwh of solar power your panels also generate one trec. A quick background of solar incentives in new jersey. Board of public utilities clean energy program.

Solar renewable energy credits or srecs can help home solar system owners earn a return on solar. On october 29 2018 the new jersey board of public utilities clarified the language above as follows. Save money while saving the planet. Higher than average electricity rates and strong solar incentives have helped thousands of new jerseyans achieve quick payback periods on their solar investments.

Businesses should take advantage of the free benchmarking services provided by new jersey s clean energy program to discover where there are opportunities to save on energy before installing solar. New jersey has always been one of the best states for solar. 2 new jersey sets a renewable portfolio standard rps requiring companies that provide electricity to get a portion of its energy from renewable sources like solar power. New jersey has a renewable portfolio standard rps that requires electric utility companies within the state to source 50 percent of its electricity from renewable technologies by 2030.

Many states have an rps but new jersey is among the few that also has a solar carve out. Whether it s for your home or your business new jersey s clean energy program makes using renewable energy technologies affordable practical and just plain smart. Implementation of new 10 year srec term. Srecs solar renewable energy credits are the driving force behind the entire solar market.

Improved comfort and safety lower energy bills less renewable capacity needed and lower upfront cost to install renewable energy. After your system has been installed we will assist you in registering your system with an srec tracking system. 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. To meet the rps electric companies can buy solar credits from home solar systems.

This requires a set portion of this renewable electricity to come. These trecs can then be sold on a market to utilities to help them meet the new jersey renewable portfolio standard rps. Utility companies face substantial.