Translator Disclaimers
For Immediate Release: Contact: Peter Peretzman
Date: 10/29/2018 609-984-9707
Provides Clarity for Solar Industry and Saves Money for New Jersey Ratepayers
Trenton— The New Jersey Board of Public Utilities has issued an order clarifying language in the 2018 Clean Energy Act by establishing that all Solar Renewable Energy Certificate (SREC) applications made after October 29 will have a lifespan of ten years. 


Under the plain language of the new law signed by Governor Murphy in May, the ten-year SREC term applies only for certain project applications seeking to be connected to the distribution system.


“This action by the Board clarifies the SREC life span and is in line with the intent of the Clean Energy Act, which is that all SRECs have a life span of ten years, not only certain projects seeking connection to the distribution system,” said NJBPU President Joseph L. Fiordaliso.


New Jersey’s solar program is currently financed through SRECs and these are a tradable commodity. SRECs are generated by owners of solar projects for the energy they produce and then sold to electricity suppliers. Costs are then typically passed on to ratepayers.


“Limiting all SRECs to ten years will provide a direct savings to ratepayers without imposing significant financial hardship on developers,” President Fiordaliso added.


This order is a key part of New Jersey’s solar market transition, in line with Governor Phil Murphy’s goal of 100 percent clean energy by 2050. BPU is actively working with stakeholders to define the process for the closure of the current Solar Renewable Energy Credit (SREC) program and transition to a long-term program that supports continued growth of solar in New Jersey.


A thriving solar industry is critical to achieving 100 percent clean energy. New Jersey is number six nationally in the number of solar installations and is fast approaching the 100,000 mark. The NJBPU will continue to work with the solar industry to ensure a smooth transition.



About the New Jersey Board of Public Utilities (NJBPU)
The NJBPU is a state agency and regulatory authority mandated to ensure safe, adequate and proper utility services at reasonable rates for New Jersey customers. Critical services regulated by the NJBPU include natural gas, electricity, water, wastewater, telecommunications and cable television. The Board has general oversight and responsibility for monitoring utility service, responding to consumer complaints, and investigating utility accidents.
To find out more about the NJBPU, visit our web site at


About the New Jersey Clean Energy Program (NJCEP)
NJCEP, established on January 22, 2003, in accordance with the Electric Discount and Energy Competition Act (EDECA), provides financial and other incentives to the State's residential customers, businesses and schools that install high-efficiency or renewable energy technologies, thereby reducing energy usage, lowering customers' energy bills and reducing environmental impacts. The program is authorized and overseen by the New Jersey Board of Public Utilities (NJBPU), and its website is