Residential State and Local Incentives
Many states offer generous incentives to make switching to solar power more attractive to consumers. The amounts of the incentives and rebates vary by state. We have been active in the installation of solar photovoltaic systems under the New Jersey’s Clean Energy ProgramTM (NJCEP) for the state of New Jersey.
NJ Governor Christie Signs Bill to Increase
NJ Governor Christie Signs Bill to Increase Solar Requirements
Today, New Jersey Governor Chris Christie signed into law legislation to increase the state’s solar goals by amending the Renewable Portfolio Standard (RPS). Both Senate Bill 1925 and Assembly Bill 2966 were passed on June 25, 2012. The bill, which attempts to address the state’s SREC oversupply, adjusts the Renewable Portfolio Standard (RPS) Solar requirements by amending the following:
Solar RPS Requirements Increased beginning in Reporting Year 2014:
Beginning June 1, 2013 the market will see an increase in SREC requirements, shifting the state’s solar goals from a fixed megawatt hour requirement to a percentage based requirement. Although the requirements increase in the near term, later dated requirements decline over the current solar goals.
New Solar Alternative Compliance Payment (SACP) Schedule:
Data Source: (www.srectrade.com)