New Jersey Board of Public Utilities Clarifies the SREC Qualification Life Provision of New Solar Law
On October 29, 2018 the New Jersey Board of Public Utilities (“BPU”) clarified a portion of the solar law signed by Governor Murphy on May 23, 2018 (the “Law”). The Law reduces the SREC qualification life for new systems from 15 years to 10 years; however, there has been some confusion as to when the reduction becomes effective. The BPU has clarified that all SRP Registration applications submitted on the online portal on or before 11:59 pm on October 29, 2018 will be eligible for a 15 year SREC qualification life. All SRP Registration applications submitted after 11:59 pm on October 29, 2018 will be eligible for only a 10 year SREC qualification life.
It is important to note that applications received by the BPU for conditional certification pursuant to Subsection T (landfills, brownfields and areas of historic fill) prior to 11:59 pm on October 29, 2018 that ultimately fulfill all conditions established by the BPU in such conditional certification shall receive a 15 year SREC qualification life.
For more information, please contact your CSG attorney or the author listed below.
Stephen Kisker | Chair, Renewable Energy & Sustainability Group | email@example.com | (973) 530-2074