New Jersey's Solar PPA Business Supported by Rising SREC Prices
New Jersey remains an incredible state for solar, not because it has as much sunlight as Texas, but because:
- Many viable commercial rooftops
- Investors enjoy substantial returns bolstered by the NJ SREC program.
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. A typical 17 cent per kWh power bill can be reduced to when 11 cents.
The effects of Governor Christie signed into law NJ supporting legislation for solar PV systems on July 23rd 2012. This bill supports the NJ SREC market, making investing in solar attractive again.
SREC prices are on the rise. While there is optimism about further 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.
We provide information on how to take advantage of the thriving NJ solar market and are at the ready to assist you!
New Jersey Solar Consulting performs intermediary service to both project hosts and investors. Since 2009 New Jersey Solar Consulting, LLC has provided market insight and contacts for those ready to profit from state legislation. We suggest project terms that are mutually beneficial and structure transactions 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
