News

New Jersey is the nation's second largest market for solar power, but that position has been threatened by a policy imbalance. Seeking to fix that, New Jersey governor Chris Christie has signed S1925/A2966, which seeks to correct imbalances of Solar Renewable Energy Credit supply and demand. Greentech Media reports:

According to the SEIA, the new law "accelerates the state's Renewable Portfolio Standard (RPS) solar requirement by about four years. Declining costs and an attractive investment environment caused solar deployment in the state to outpace demand. Acceleration of the RPS solar requirement will bring supply and demand in the market back into balance." The law also reduces the Solar Alternative Compliance Payment, clarifies program eligibility for net-metered systems, defines SREC program eligibility for grid-connected solar energy projects, promotes development of projects on brownfields and landfills, authorizes aggregated net metering for certain public entities, and increases SREC ‘banking life.’