Just a couple of weeks back, at the end of April, New Jersey’s Clean Energy Program released information announcing a number of updates to its SREC (Solar Renewable Energy Certificate) Registration Program.
Clean Energy Act
The Clean Energy Act (2018) means that the NJ Board of Public Utilities must close the SRP (Solar Registration Program) to new registrations when 5.1% of kWh (kilowatt hours) sold from solar electric generators are connected to the distribution system.
Eligible projects, which meet all requirements and were registered by Oct. 29, 2018, are eligible to create SRECs after the state hits the 5.1% mark. Those projects in the SRP pipeline that did not complete registration by midnight on Oct. 29, 2018 may not be eligible for SRECs when the Board has determined the achievement of the 5.1% target.
The aforementioned NJ Board is, of course, tracking progress towards this marker of 5.1% and will determine when it is reached.
In addition, this Clean Energy Act has cut SREC Qualification Life from 15 years down to 10 years. Additional details can be found here.
SREC Eligibility for Adding Capacity to Previously Installed System
Those solar systems which meet any one of the three criteria outlined beneath will then have two options with regard to metering for the added capacity.
#1. Both the initial registration and the add-on registration were submitted on/before Oct. 29, 2018.
#2. Both the initial registration and the add-on registration were submitted after Oct. 29, 2018.
#3. Initial registration was on/before Oct. 29, 2018, add-on was after Oct. 29, 2018 and remaining SREC Qualification life is less than 10 years.
#1. If a new solar production meter is installed for the add-on, then the added capacity receives a new certification number and:
a) 15 year qualification life if add-on capacity registration submitted on/before Oct. 29, 2018.
b) 10 year qualification life if add-on capacity registration submitted after Oct. 29, 2018.
#2. If no new solar production meter is installed, then added capacity would retain the qualification life of the initial registration.
For add-ons where initial project registration was submitted on/before Oct. 29, 2018 and add-on registration was submitted after Oct. 29, 2018 and remaining SREC qualification life for the initial registration exceeds 10 years:
A new solar production meter is a requirement for the add-on capacity to be eligible for SRECs.
Further information regarding Project Numbers & PTO dates for previously installed systems can be found here. Further examples about adding capacity to a previously installed system are available here.
All credit to http://www.njcleanenergy.com/ and New Jersey’s Clean Energy Program for the information outlined above and throughout this article.
To develop your own solar project, contact YSG Solar now or call us at (212) 389-9215.