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Solar Renewable Energy Certificates (SRECs) (New Jersey)
EZFeed/Relevant Yes  +
Incentive/Active true  +
Incentive/Amt Varies; Monthly average prices ranged from 176-223 per MWh during 2014 with significant variations for individual trades  +
Incentive/ApplDsc Commercial  + , Industrial  + , Residential  + , Nonprofit  + , Schools  + , Local Government  + , State Government  + , Tribal Government  + , Fed. Government  + , Agricultural  + , Institutional  +
Incentive/Auth2Code N.J.A.C. 14:8-1 & 14:8-2  +
Incentive/Auth2DtEff 03/01/2004 (subsequently amended)  +
Incentive/Auth2Link http://www.dsireusa.org/documents/Incentives/NJ07Fb.htm  +
Incentive/Auth3Code NJ BPU Solar Transition Order  +
Incentive/Auth3DtEff 2008-06-01  +
Incentive/Auth3DtEnact 2007-09-12  +
Incentive/Auth3Link http://www.njcleanenergy.com/files/file/9-12-07-8E.pdf  +
Incentive/Auth4Code NJ BPU Solar Financing Board Order  +
Incentive/Auth4DtEnact 2008-08-07  +
Incentive/Auth4Link http://www.njcleanenergy.com/files/file/Board Orders/7-30-08-8E.pdf  +
Incentive/Auth5Code NJ BPU Solar Financing Review Order  +
Incentive/Auth5DtEnact 2012-05-23  +
Incentive/Auth5Link http://www.njcleanenergy.com/files/file/Library/5-23-12-8F.pdf  +
Incentive/Auth6Code S.B. 1925  +
Incentive/Auth6DtEff 2012-07-23  +
Incentive/Auth6DtEnact 2012-07-23  +
Incentive/Auth6Link http://www.njleg.state.nj.us/2012/Bills/AL12/24_.PDF  +
Incentive/AuthCode N.J. Stat. § 48:3-51 et seq.  +
Incentive/AuthDtEff 1999 (subsequently amended)  +
Incentive/AuthLink http://www.dsireusa.org/documents/Incentives/NJ07Fa.htm  +
Incentive/ContAddr 75 Lincoln Highway, Suite 100  +
Incentive/ContDept c/o Conservation Services Group  +
Incentive/ContEmail njreinfo@csgrp.com  +
Incentive/ContName New Jersey Clean Energy Program - SREC Registration Program  +
Incentive/ContPhone (866) 657-6278  +
Incentive/ContPlace Iselen, New Jersey  +
Incentive/ContWebsite http://www.njcleanenergy.com/  +
Incentive/ContZip 08830  +
Incentive/EligSysSize No specific limits, but system must be connected to distribution system; behind-the-meter systems must be sized so that annual output does not exceed annual on-site load  +
Incentive/EnergyCat Renewable Energy Incentive Programs  +
Incentive/EquipReqs Systems must be new and have five-year all
Systems must be new and have five-year all-inclusive warranty; PV modules must listed by UL (or another nationally recognized testing laboratory) and inverters must be UL-1741 and IEEE 929 compliant; systems must be equipped with visual indicators and/or controls, have a monitoring capability that is readily accessible to the owner, and be equipped with an energy production meter that meets ANSI C.12 standards
ction meter that meets ANSI C.12 standards  +
Incentive/ImplSector State/Territory  +
Incentive/InstallReqs Systems must be grid-connected to the "distribution system" in New Jersey. Systems not installed behind the meter of an electric customer (i.e., grid-supply systems) require approval from the BPU.  +
Incentive/MaxInc 2013-2014 compliance year: ~339 per MWh (~0.339 per kWh)  +
Incentive/Name Solar Renewable Energy Certificates (SRECs)  +
Incentive/ProgAdmin New Jersey Board of Public Utilities  +
Incentive/StartDate March 1, 2004  +
Incentive/StartDateString 2004-03-01  +
Incentive/Summary '''''NOTE: On May, 2014, the Board of Publ
'''''NOTE: On May, 2014, the Board of Public Utilities (BPU) published a report addressing methods to mitigate SREC price volatility in the market. The report can be accessed [http://www.njcleanenergy.com/files/file/Solar%20Act/Solar%20Act%20letter%20and%20SDV%20report.pdf here].''''' New Jersey’s [http://dsireusa.org/incentives/incentive.cfm?Incentive_Code=NJ05R&re=0&ee=0 Renewable Portfolio Standard] (RPS) includes a carve-out for solar, requiring the each electricity Load Serving Entities (LSEs) to provide at least 4.1% of the electricity through in-state solar installations by 2028. This solar carve-out, in addition to other supporting incentives has established NJ as one of the largest and dynamic solar market in the US. Solar projects installed in New Jersey that are registered with the SREC Registration Program are qualified to generate Solar Renewable Energy Certificates (SRECs). SRECs represent the renewable attributes of solar generation, bundled in minimum denominations of one megawatt-hour (MWh) of production. New Jersey’s SREC program provides a means for SRECs to be created and verified, and allows electric suppliers to buy and retire these certificates in order to meet their solar RPS requirements. All electric suppliers must use the SREC program to demonstrate compliance with the RPS. New Jersey’s on-line marketplace for trading SRECs, launched in June 2004, is the first such operation in the world. The price of SRECs is determined primarily by their market availability and the price of the Solar Alternative Compliance Payment (SACP) for the state RPS. The SACP is effectively a ceiling on the value of SRECs because it is the per MWh payment that electricity suppliers must make if they fail to obtain enough SRECs to cover their RPS obligation. Prior to 2008 the SACP was set at $300 per MWh. This was amended in 2007, and an eight-year schedule was established by the BPU for Energy Year (EY) 2009 - 2016. In 2012 S.B. 1925 established a 15-year schedule for EY 2014 - 2028. Past and current SACP levels are as follows: {
{  +
Incentive/TechDsc Photovoltaics +
Incentive/Terms Systems must be registered with NJ Board of Public Utilities; facilities qualify to generate SRECs for 15 years after the date of interconnection  +
Incentive/Type Performance-Based Incentive +
OpenEI/PageDescription Solar Renewable Energy Certificates (SRECs): energy incentive program.  +
OpenEI/PageKeyword Energy Incentives  + , New Jersey  + , Performance-Based Incentive  + , New Jersey Board of Public Utilities  +
Place New Jersey: Energy Resources +
Website http://www.njcep.com/srec  +
Categories Financial Incentive Programs , Pages with reference errors , Incentive with Contacts , Incentive with Authorities
Modification date
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00:43:34, 13 February 2015  +
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