SREC Tracking System
The Solar Renewable Energy Certificate (SREC) tracking system enables account holders to track solar energy system production from individual generators. SRECs are issued to account holders based on recorded or estimated production of the solar energy system. Once your solar energy system has been installed and your online SREC tracking system account has been established, SRECs will be deposited monthly, based on either estimated or actual reported energy production. The SREC tracking system also records the sale of SRECs from generators to purchasers.
REIP Project Owners
Owners of solar projects developed through the Renewable Energy Incentive Program (REIP) will receive a letter from New Jersey’s Clean Energy ProgramTM once their projects have been completed, providing them with their New Jersey certification number and instructions on how to establish an account with the SREC tracking system. Once an account has been established, it can be accessed from the log in page.
SREC Registration Project Owners
Owners of non-rebated solar project owners MUST register their projects with the SREC Registration Program (SRP) before they are eligible to establish an account with the SREC tracking system. Upon project completion, non-rebated solar project owners will receive a letter from New Jersey’s Clean Energy Program providing them with their New Jersey certification number and instructions on how to establish an account with the SREC tracking system. Once an account has been established, it can be accessed from the log in page.
How do SRECs work?
Each time a system generates 1,000 kWh of electricity an SREC is earned and placed in the customer's electronic account. SRECs can then be sold on the SREC tracking system, providing revenue for the first 15 years of the system's life.
Electricity suppliers, the primary purchasers of SRECs, are required to pay a Solar Alternative Compliance Payment (SACP) if they do not meet the requirements of New Jersey’s Solar Renewable Portfolio Standard (RPS). One way they can meet their RPS requirements is by purchasing SRECs. As SRECs are traded in a competitive market, the price may vary significantly. The actual price of an SREC during a trading period can and will fluctuate depending on supply and demand.
Who manages the SREC tracking system?
New Jersey's Clean Energy Program recently transitioned its SREC tracking system to PJM-EIS. Learn about this transition.