12/15/2023 0 Comments Horizon direct 10 vs horizon direct 15The actual price of an SREC during a trading period can and will fluctuate depending on supply and demand. As SRECs are traded in a competitive market, the price may vary significantly. Program participants rely on a combination of electricity cost savings through net metering, selling SRECs through the RPS marketplace, federal tax credits or grants and depreciation benefits to reduce the total cost of installation and drive their investment in solar.Įlectricity suppliers and providers, 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 with SRECs retired. How do New Jersey’s program participants recover the cost of installing a solar system? This law changes the NJ RPS solar requirement to an annual percentage from an annual fixed Gigawatthours (Gwhrs) requirement (see tables below). The New Jersey Legislature passed new solar legislation in 2012 that accelerates the state’s Solar Renewable Portfolio Standard (RPS) extends the RPS to the year 2028 extends a REC life to five years and adjusts the Solar Alternative Compliance Payment (SACP), among other things. New Jersey’s solar industry has seen substantial growth over the last few years and is well positioned to continue to grow. What are your goals for the growth of New Jersey’s solar program? In just four years of existence, the SREC Registration Program has contributed over 88% of the installed solar capacity while the rebate programs, which have now been phased out, account for the other 12%. Over the past 12 years, the program completely transitioned from a rebate only program to a market based program through the sale of SRECs. In 2001, the Clean Energy Program had only six solar installations. What has been the result of this integrated approach?
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