Nj State Solar Program

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.

Nj state solar program. New jersey s clean energy program tm was established in 2001. Save money while saving the planet. Many states have an rps but new jersey is among the few that also has a solar carve out. New jersey has made an additional adjustment to the original srec program by having the energy credits be valued at a contracted rate for the entire 15 year period backed by the state.

This policy allows you to sell excess electricity back to the grid at the retail rate. Please check njcep for more information and availability of funds. A quick background of solar incentives in new jersey. The new jersey board of public utilities adopted rules establishing the community solar energy pilot program on january 17 2019.

New jersey residents who are municipal electric oil or propane customers are eligible to participate in and receive incentives from certain programs. What s new for 2020 the future looks bright for solar in new jersey but things are a bit in flux right now. Additional information on how community solar works is available on the office of energy efficiency renewable energy website. Since that time new jersey has established a model program and an integrated approach to solar development that includes.

That 5 1 percent 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. New jersey net metering. The new jersey board of public utilities njbpu today declared. That year there were only six solar installations in the state.

The garden state is transitioning away from its long term solar renewable energy certificate srec incentive program but while it chooses a successor it s allowing new solar projects to be eligible for a new kind of transition renewable energy certificate trec. This requires a set portion of this renewable electricity to come. This takes out the variability and inherent risk associated with investing in a solar project that receives recs. While today marks the end of one chapter it also marks the beginning of a.