EnerKnol’s Visual Primer – New Jersey Solar Credit Market is in for Overhaul under New Incentive Program

New Jersey has enacted legislation expanding the state’s renewable portfolio standard (RPS) to 50 percent by 2030 and phasing out the solar renewable energy certificate (SREC) program by 2021 to establish a new or modified framework to support solar development. The move addresses an impending oversupply of SRECs, providing a near-term boost to keep the solar industry growth while the state crafts a long-term plan.