This requires a set portion of this renewable electricity to come.
New jersey solar renewable energy credits.
Many states have an rps but new jersey is among the few that also has a solar carve out.
Solar renewable energy credits or srecs can help home solar system owners earn a return on solar.
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.
To meet the rps electric companies can buy solar credits from home solar systems.
Higher than average electricity rates and strong solar incentives have helped thousands of new jerseyans achieve quick payback periods on their solar investments.
Utility companies face substantial.
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.
Above all the state s renewable portfolio standard and associated solar renewable energy certificate srec market have.
On october 29 2018 the new jersey board of public utilities clarified the language above as follows.
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.
New jersey has always been one of the best states for solar.
Electricity suppliers the primary purchasers of srecs are required to pay a solar alternative compliance payment sacp if they do not meet the requirements of new jersey s solar rps.
Board of public utilities clean energy program.
New jersey s board of public utilities and its clean energy program njcep promote increased energy efficiency and the use of clean renewable sources of energy energy efficiency is the easiest most cost effective way to reduce energy use and hence reduce criteria pollutant emissions and greenhouse gases.
Srecs solar renewable energy credits are the driving force behind the entire solar market.
After your system has been installed we will assist you in registering your system with an srec tracking system.
By investing in renewable energy you can help protect the environment reduce our dependence on fossil fuels and lessen our carbon footprint.
Implementation of new 10 year srec term.
Improved comfort and safety lower energy bills less renewable capacity needed and lower upfront cost to install renewable energy.
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.
The renewable portfolio standard rps in place in new jersey requires that the state produce a certain percentage of its energy by alternative means.
Save money while saving the planet.
These trecs can then be sold on a market to utilities to help them meet the new jersey renewable portfolio standard rps.
