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.
To find out more, visit markets.flettexchange.com and www.srectrade.com/blog.
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