Nj State Solar Program

A quick background of solar incentives in new jersey.

Nj state solar program.

Additional information on how community solar works is available on the office of energy efficiency renewable energy website. This takes out the variability and inherent risk associated with investing in a solar project that receives recs. What s new for 2020 the future looks bright for solar in new jersey but things are a bit in flux right now. The state s solar success has been based on two core programs one that compensates you for the electricity you produce and one that rewards you for that electricity s clean characteristics.

The new jersey board of public utilities adopted rules establishing the community solar energy pilot program on january 17 2019. That year there were only six solar installations in the state. 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. This policy allows you to sell excess electricity back to the grid at the retail rate.

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. New jersey net metering. Save money while saving the planet. The new jersey board of public utilities njbpu today declared.

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 program registers solar projects in order to earn solar renewable energy certificates srecs. New jersey s clean energy program tm was established in 2001. Since that time new jersey has established a model program and an integrated approach to solar development that includes.

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. 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. Please check njcep for more information and availability of funds. Many states have an rps but new jersey is among the few that also has a solar carve out.