In a recent blog post, YSG Solar detailed the 9 Steps of the Transition Renewable Energy Certificates (TREC) program. Today, we have answered 7 key questions about the New Jersey Transition Renewable Energy Certificates Program, and hopefully further illuminated the specifics of the program.
A Board Order, issued by the New Jersey Board of Public Utilities in December 2019, established the Transition Incentive (TI) Program as a means of bridging the gap between the SREC Registration Program (SRP) and its eventual successor. This Order led to the creation of fixed-price, factorized Transition Renewable Energy Certificates (TRECs).
The Board will advance New Jersey solar in two stages.
- First Stage: A platform facilitating REC payments to aggregators and owners.
- Second Stage: Establishment of a long-term solar incentive program via separate rulemaking by the NJBPU.
Below, you will find the answers to 7 big questions concerning the New Jersey TREC Program.
#1. What is a TREC in NJ?
This is the Transition Renewable Energy Certificate (TREC).
#2. What replaced the NJ SREC?
The Transition Renewable Energy Certificate (TREC), which was issued in 2019 by the New Jersey Board of Public Utilities (NJBPU) for solar generating facilitates.
#3. Who is administrating the TREC program in NJ?
InClime is tasked with initiating payments to all registered systems.
#4. How long is the TREC?
The TREC is fixed for a period of 15 years.
#5. Is the TREC 10 or 15 years?
The TREC is for a period of 15 years.
#6. Is the TREC variable or fixed?
The TREC is fixed.
#7. Can Community Solar Projects in New Jersey receive the TREC?
Yes, New Jersey Community Solar projects are eligible for the TREC.
If you want to go solar in New Jersey, then reach out to YSG Solar today. YSG will work to understand your energy requirements and identify the ideal solar project for your needs—residential, commercial, or community. Send us an email, or call at 212.389.9215 to get started. You can also get in touch to learn more about New Jersey TRECs.
YSG Solar is a project development vehicle responsible for commoditizing energy infrastructure projects. We work with long-term owners and operators to provide clean energy assets with stable, predictable cash flows. YSG's market focus is distributed generation and utility-scale projects located within North America.
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