Wednesday, July 25, 2012

Latest New Jersey house & assembly bills encourage SREC protection.

A few days ago, New Jersey Governor Chris Christie signed Senate Bill 1925 and Assembly Bill 2966, pushing forward with changing the state’s solar goals in its RPS, or Renewable Portfolio Standard.

The shifts in this legislation, which passed on June 25, are set up to “increase the amount of SREC [solar renewable energy certificates] that need to be purchased in the short term to absorb the oversupply and maintain a higher build rate,” states Flett Exchange.


This means those who have SRECs to sell will benefit from utility companies being required to buy more per year from those who are producing solar on their properties.

New Jersey’s strong installation market with solar has far exceeded the minimum of what the state mandated in the past few years.

An estimated $3 billion has been invested in New Jersey solar infrastructure by now.

Limiting solar farm development is also a part of the newly signed legislation. This gives a more fair opportunity in solar capacity to smaller producers, like homeowners who want to put panels on their rooftops or in their yards.

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