What happened to New Jersey SREC-I?
In April 2020, the original New Jersey SREC-I program closed to new systems after reaching its statutory benchmark.
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The program was required to close once solar generation reached 5.1% of total retail electricity sales in the state
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To bridge the gap between SREC-I and a future program, New Jersey created the Transition Incentive (TI) Program, which issued Transition Renewable Energy Certificates (TRECs)
What is the New Jersey Successor Solar Incentive (SuSI) Program?
In July 2022, New Jersey launched the Successor Solar Incentive (SuSI) Program, which allows eligible new solar systems to generate SREC-IIs.
The SuSI Program is made up of two sub-programs:
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Administratively Determined Incentive (ADI) Program
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Competitive Solar Incentive (CSI) Program
What is the ADI Program?
The ADI Program is a fixed-price block incentive program designed to reduce price volatility.
Eligible projects
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Net-metered residential projects
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Net-metered non-residential projects smaller than 5 MW
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Community solar projects
Incentive structure
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Participants receive a fixed incentive value
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Incentives are paid over a guaranteed 15-year term
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Incentive levels vary by project size and project type
On March 13, 2023, New Jersey updated ADI incentive values for certain market segments.
What is the CSI Program?
The CSI Program is intended for larger, grid-supplying solar facilities and operates through a competitive bid process.
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Opened to new registrations on April 15, 2023
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Projects must receive a winning bid to sell SREC-IIs
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The program is organized into Tranches, each with a defined MW procurement target
Tranche 5 includes projects that meet Tranche 1–3 characteristics and include energy storage capacity.
Eligible CSI projects include:
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Grid-supplying solar facilities
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Non-residential net-metered projects larger than 5 MW
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Eligible grid-supply solar facilities paired with storage
What is required to register a New Jersey SREC-II system?
Before Sol Systems can register your system, customers must provide:
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A signed interconnection agreement
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A signed contract
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A New Jersey Certification Number
Who completes New Jersey registration?
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Residential installers complete registration with the New Jersey Clean Energy Program
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Customers must provide their NJ Certification Number to Sol Systems for GATS registration
To receive SREC-II eligibility beginning on the system’s Permission to Operate (PTO) date, installers must submit registration before PTO is granted.
How are SREC-IIs created and tracked?
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Sol Systems registers eligible systems with PJM’s Generation Attribute Tracking System (GATS), which awards SREC-IIs
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All New Jersey systems must report generation using a dedicated revenue-grade solar meter
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Customers may:
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Report meter readings manually, or
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Provide remote monitoring access to Sol Systems
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Does Sol Systems charge a registration fee?
No. Sol Systems does not charge a registration fee.
When are SREC-II payments made?
Sol Systems issues payments to Sol Annuity customers via direct deposit on a monthly basis, according to the applicable payment schedule.