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What is the New Jersey SREC Program?

April 26, 2017NEW JERSEY program srec

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What is the New Jersey SREC Program?

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The New Jersey SREC Program provides a means for SRECs to be created and verified on your behalf. It also facilitates the sale of SRECs to electric suppliers that are required to invest in solar energy under New Jersey’s Renewable Portfolio Standards (RPS). The RPS requires electricity suppliers to get a minimum of 0.16% of the electricity they sell in reporting year 2009 from solar systems in New Jersey. This requirement increases each year, so that a total of 2300 MW of solar electricity will be required by 2021. All New Jersey electric suppliers are required to use the SREC Program to show compliance with this part of the State’s renewable portfolio standard.