Overview of the New Jersey Solar Renewable Energy Credit Program - 0 views
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newyorkengineer on 04 Apr 18Many states in the USA have introduced laws called Renewable Portfolio Standards, with the goal of increasing their share of renewable generation and reducing their carbon footprint. An RPS law establishes a minimum renewable generation percentage for all electric utility companies in the state, and there are significant fines for non-compliance. The RPS target for New Jersey is 22.5% by 2021, with a specific solar power target of 4.1% by 2028. A Solar Renewable Energy Credit (SREC) program has been created to help reach that target, which will be explained in this article.