Reduce Your Business Electricity Bill By Up To 80%
NJ Taking Steps To Double Its Solar Power
Additional Credits For Public Buildings
The new program will take effect Aug. 28. For solar installations that generate 5 megawatts or less of power, which includes most residential and commercial projects, the state will issue credits worth between $70 and $120 per megawatt hour of energy produced, with additional credits available to public buildings. That’s a substantial decrease from the old (existing) program’s credit of $220 per megawatts hour.
Solar projects larger than 5 megawatts will have a separate incentive program that is expected to launch next year, according to the BPU.
Do You Qualify For This
Incentive Program
The Board of Public Utilities unanimously voted Wednesday to launch a new incentive program that aims to add 3,750 megawatts of solar energy by 2026, which the BPU says would double the state’s capacity.
New Jersey's Largest Solar Power Insentive Program
Businesses or property owners that intend to install solar generation systems should act promptly so that those projects can be eligible to earn TRECs rather than SuSI Program incentives. The preparation of TREC registration applications takes time, making it necessary for projects to at least be in the planning stage in order to meet the BPU’s August 27 deadline for sunsetting the TI program.
NJ.com | Steps To Double NJ Solar Power
By Payton Guion. State officials approved a plan they say will drastically increase New Jersey’s capacity for solar energy. The Board of Public Utilities unanimously voted Wednesday to launch a new incentive program that aims to add 3,750 megawatts of solar energy by 2026, which the BPU says would double the state’s capacity.
JDSUPRA | Solar Incentive Program
While the value of the renewable energy certificates to be issued under the SuSI Program is lower than under the current TREC program, the BPU is confident that the new incentives, combined with declining per watt installation costs, are sufficient to sustain the continued construction of solar energy systems in New Jersey.
Profit With the Power of Sunshine
Everyday a growing number of people are switching to solar. Perhaps you just want to lower your monthly cost. Maybe you want more control over how your home energy is sourced and less reliance on the grid. Whatever your reason is: cost savings, energy independence or helping the environment, the time to take advantage is now. State and Federal incentives are frequently changing/reducing. Don’t wait, Act now!
