New Jersey Solar Incentives
SREC: A Powerful Commercial Solar Incentive
New Jersey is currently the most attractive market for large commercial solar installations in the United States. The New Jersey Solar Renewable Energy Credit (SREC) program has made the economic benefits of solar power impossible for leading New Jersey businesses to ignore.
What are Solar Renewable Energy Credits (SRECs)?
SRECs are credits earned by solar power system owners, based on the amount of solar electricity produced – 1 SREC for every 1,000 kWh generated. New Jersey Renewable Portfolio Standards require energy companies to deliver a portion of their electricity from renewable sources. Purchasing SRECs is an innovative way for these entities to meet RPS requirements.
The Value of SRECs
SRECs can be sold or traded similarly to the way a stock is sold on the stock market. They provide additional revenue to owners of commercial solar power systems, helping to subsidize their investment while providing an incentive that encourages the development of solar energy.
More Energy = Greater Return
When considering a solar project, it is important to maximize the potential solar energy production from the space available. SunPower® commercial solar power systems
generate more solar energy per square foot than any other solar technology—about 50% more energy than conventional solar solutions. Superior energy output from SunPower solar systems translates into more SRECs and ultimately, the greatest return on your solar investment.
Unmatched SREC Experience
SunPower has been helping customers manage SRECs in both the spot and forward markets since 2004. Our market-leading technical expertise, world-class PV installation capability and policy involvement in states with strong RPS commitments have helped us achieve more SREC experience than any other company.