August 26, 2020
As of Friday, August 14, 2020, the website and portal for the New Jersey Transition Incentive Program is up-and-running online. This platform will be extremely beneficial to project managers and owners, as they will be able to use the NJ TREC platform to register their projects.
Those owners and managers who have received New Jersey certification numbers for the Transition Incentive program can use the platform to register their projects in order to receive payment for Transition Renewable Energy Credits (TRECs).
Additionally, this new NJ TREC website is a source of information regarding the payment process and other issues related to the TREC payment. Participants can also use the site to monitor their TREC payment history.
Before receiving their first payment for Transition Renewable Energy Credits (TRECs), applicants must:
Register their system in PJM-EIS Generation Attribute Tracking System (GATS).
Complete an Irrevocable Standing Order (ISO) to the TREC GATS account.
For further information about Irrevocable Standing Orders, applicants should check the GATS Solution Aid on the PJM-EIS website. Once both the initial setup and the ISO have been completed on the NJ TREC website, payment processing will occur automatically each month. Payments will be processed based on the TRECs transferred via the irrevocable transfer agreement.
Looking for a New Jersey solar installer? Look no further. YSG Solar will guide you through the entire solar installation process from start to finish, whether your project is residential, commercial, or community. Send us an email, or call at 212.389.9215 to get started, or just learn a little more about solar energy.
YSG Solar is a project development vehicle responsible for commoditizing energy infrastructure projects. We work with long-term owners and operators to provide clean energy assets with stable, predictable cash flows. YSG's market focus is distributed generation and utility-scale projects located within North America.
Sources: