The New Jersey SREC Program which has made solar financially viable for many New Jersey residents has won an award from the U.S. Environmental Protection Agency (USEPA). The SREC program which was established in 2004 and is managed by the Board of Public Utilities and the New Jersey Clean Energy Program, was recognized by the USEPA’s Clean Air Excellence Awards Program in the category of Regulatory and Policy Innovations.
After receiving the award Lee Solomon, president of the New Jersey Board of Public Utilities said,

We are honored to receive this award from the EPA. New Jersey’s SREC program is the first in the nation to successfully begin the transition from upfront incentives to a market-based system for project finance. By avoiding upfront incentives, the SREC program lowers the financial impact on ratepayers while continuing to motivate solar electricity installations.

If you want to see just how lucrative these credits can be take a look at the example on our New Jersey Solar Rebates, Incentives, and Tax Credits page. The SREC program has propelled New Jersey to second place behind California in total grid-tied solar electric capacity and more importantly the program will continue to drive solar adoption as solar rebates decline over time.

If you think you might be a good candidate for solar and want to find out more about how much you could save (or make) by installing a solar power system, let us connect you with qualified installers who can answer any questions and provide you with tailored, no obligation quotes.