February 27, 2020
Following on from the New Jersey Clean Energy Act of 2018, and in accordance with the Renewable Portfolio Standards which came into effect on February 3, 2020, New Jersey’s Clean Energy Program has offered another of its regular updates on the progress of its SREC (Solar Renewable Energy Certificate) Program.
According to the latest newsletter distributed by the New Jersey Clean Energy Program via email, staff have forecasted that they will hit their established 5.1% SREC Program milestone by June of this year, 2020.
Of course, it’s also important to note that this forecast, like all forecasts, is dependent on a number of variables which are liable to change in the future. Factors like market conditions will play a part in determining the accuracy of this forecast going forward. In addition, the calculation methodology may be altered as it is “currently the subject of an ongoing stakeholder proceeding”.
For now, however, the staff behind the New Jersey Clean Energy Program have forecasted that, by June 2020, qualified solar generation facilities will provide 5.1% of kWh (kilowatt hours) sold in the state of New Jersey.
The full notice regarding this forecast of 5.1% by June 2020 is available here, courtesy of the NJBPU (New Jersey Board of Public Utilities).
All questions regarding Solar Transition in New Jersey should be directed to solar.transitions@bpu.nj.gov and general contact details for the New Jersey Clean Energy Program are as follows:
Phone: 866-NJSMART
Email: Info@NJCleanEnergy.com
If you’re interested in New Jersey solar, contact YSG Solar today. We take care of the entire installation process, so you can sit back and focus on the savings. YSG has been operating in the renewable energy sector for over a decade, working on everything from residential rooftop solar to big commercial projects. Send us an email, or call at 212.389.9215 to learn more.
By Shane Croghan
Sources:
https://files.constantcontact.com/6e1453b9001/34b63802-72ba-4c2f-a55c-cca16f824138.pdf