Notice:  NJ SREC Update: Implementation of New 10-year SREC Term

The Solar Renewable Energy Certificate (SREC) tracking system enables account holders to track solar energy production from individual generators. All solar energy systems eligible to earn SRECs must report system production based upon readings from a revenue-grade meter that meets the American National Standards Institute (ANSI) Standard C12.1-2008. This meter is in addition to the electric meter installed by the local utility to measure the home or business’ electric consumption.

On May 1, 2012, the New Jersey Board of Public Utilities (BPU) re-adopted Chapter 8 rules with amendments that became effective on June 4, 2012. In re-adopting N.J.A.C. 14:8-2.9(c), the Board eliminated the use of production estimates for systems with a capacity of less than 10 kW. The revenue-grade meter must be installed by November 30, 2012. Following that date, SRECs will be issued to systems based only upon readings obtained from a revenue-grade meter measuring the system output. See NJ Administrative Code.

SRP System Owners
Owners of solar projects developed through the SREC Registration Program must register their projects before they are eligible to establish an account with the SREC tracking system. Upon project completion, SRP system 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 project generates 1,000 kWh of electricity, an SREC is earned. System owners report the energy production to the SREC tracking system, which allows SRECs to be placed in the customer's electronic account. SRECs can then be sold on the SREC tracking system, providing revenue for the first 10 or 15 years of the project’s life. Please see this notice for additional details: NJ SREC Update: Implementation of New 10-year SREC Term

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.

How do I sell SRECs?
There are many ways you can sell SRECs. Visit our trade ally database for a listing of SREC aggregators and brokers. 

Who manages the SREC tracking system?
New Jersey's Clean Energy Program uses the SREC tracking system developed and supported by PJM-EIS.  

Contact:

PJM-EIS GATS
SREC tracking system administrator
610-666-2245
GATSAdmin@pjm-eis.com
www.pjm-eis.com