New Jersey Continues to Develop its Long Term Solar Incentive Program
The New Jersey Board of Public Utilities is developing a comprehensive, long-term revision (Successor Program) to New Jersey’s current transitional solar energy incentive program. The transitional program began with the closure of the legacy Solar Renewable Energy Certificate (SREC) Program on April 30, 2020, upon the State’s attainment of 5.1% of retail kilowatt-hours sold from solar electric generation facilities. The Board established an interim Transition Incentive (TI) Program in December 2019 to serve as a bridge between the SREC Program and the forthcoming Successor Program. The Board has stated that the final step in the evolution of New Jersey’s solar incentive program is the creation of a long-term, durable solar incentive program that puts the State on a path toward meeting its goal of 100% clean energy by 2050, and at the same time balancing ratepayer impacts while supporting a thriving and stable solar industry.
Written comments on Board Staff’s “Straw Proposal” for the Successor Program are due May 27, 2021. Staff’s updated Straw Proposal of May 5, 2021 and other documents are available at: https://njcleanenergy.com/renewable-energy/program-updates-and-background-information/solar-proceedings.