TRECs are great news for NJ commercial enterprises looking to “go solar”
New Jersey’s popular solar renewable energy credit (SREC) program will end soon.
But, in its place, the New Jersey Board of Public Utilities (BPU) is offering a new form of incentive, called transition renewable energy credits (or, “TRECs”). As the name implies, this program is temporary — but highly lucrative to commercial entities that kick off new solar projects while the program is available.
Per the Clean Energy Act of 2018, a transition program is required to assist solar energy customers in the state to move away from the volatile SREC market to a yet-to-be-determined successor program. SRECs were available for 10 years at a fluctuating price. Those price fluctuations proved too unpredictable, so the state wanted to replace that program with something more stable.
In contrast to the former SREC program, TRECs offer a fixed price for a full 15 years — providing incentive certainty over the long haul.
TRECs, by contrast, offer a fixed price for a full 15 years, offering incentive certainty over the long haul. For roof-mounted commercial solar projects, for example, the price of a TREC is $152 for each megawatt-hour of solar production.
The final successor program to the SREC will be determined shortly. But during this brief interim period, leaders of large-scale commercial enterprises — Sustainability Leaders, Energy Managers, Facilities Directors, CFOs and CEOs — can leverage ample unused space (e.g., rooftops, parking lots) to build new solar arrays and save more than at any time in the state’s history.
Commercial enterprises in New Jersey that are “thinking solar” can finally know that their incentive price is guaranteed for 15 years … making solar not just a great idea in theory, but a sound investment in practice.
To learn more about the TREC program, visit the NJ BPU’s website.
To contact a DSD rep to learn how to start the TREC acquisition process, please fill out the form below.
Secure your TREC incentives today.
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