New Jersey's Solar PPA Business Supported by Rising SREC Prices
Updated Feb, 2013
New Jersey remains an incredible state for solar, not because it has as much sunlight as Texas, but because: 1) We have many viable commercial rooftops, and 2) Investors enjoy returns bolstered by the NJ SREC program. Typically, rooftop owners did not need to pay for or invest in a solar panel system. Instead, investor owned solar PV systems provide power to the host / owner at a substantial discount, making solar extremely attractive. This arrangement is called a Solar PPA, or Power Purchase Agreement. Why pay 17 cents per kWh when 12 cents is now possible?
Finally, the effects of Governor Christies "Solar Resurrection Bill" signed into law July 23rd 2012 is much needed support for SREC pricing which investors rely on. The solar subsidy, or "SREC program" is supported for 9 years, making financing attractive to investors.
As of Feb 2013, SRECs are back over $100, renewing investor interest. While there is optimism about future price improvement, at this level good projects remain viable. Maryland, Massachusetts, Washington DC, and few other markets are also very attractive, but none as mature as the NJ market. At time of writing there are over 18,000 solar installations in New Jersey.
At this website we provide information on how to take advantage of the thriving NJ solar market.
We perform an advisory service to both project hosts and investors. Since 2009 New Jersey Solar Consulting, LLC has provided market insight for those ready to bask in the sun! We suggest project terms that are mutually beneficial and structured for success. If you are developer or installer with projects to fund, or an investor looking for projects to fund, we welcome your contact.
Rely on us to provide you with the strategic partner you need for your envisioned commercial solar PPA project.
Victor Wahby, NJ Solar Consulting
