New Jersey hits milestone for installation of solar energy projects
New Jersey hit a milestone in November as more than 100,000 solar projects have been installed in the state.
The state ranks in the U.S. top 10 in home and business solar installations. These installations are largely achieved through a combination of net metering, a solar renewable portfolio standard, and a solar renewable energy credit (SREC) market.
“New Jersey’s solar energy market has been among the biggest drivers toward a clean energy future and away from the state’s dependency on fossil fuels. We are committed to ensuring that the solar market here can thrive and support our 21st-century energy and environmental goals,” Governor Phil Murphy said.
Murphy signed a bill recently that gives the New Jersey Board of Public Utilities (NJBPU) authority to transform the solar energy market by creating a sustainable model for the continued development of solar power that goes beyond the SREC.
“The 100,000 milestone is more than symbolic. The number showcases not only New Jersey’s past commitment to solar but also its future,” NJBPU President Joseph Fiordaliso said.
The board is looking at ways to modify or replace the SREC program once it reaches its stated goals. It will hire an outside consultant to assist in the redesign of the state’s solar program to ensure New Jersey remains a leader in solar energy.
Also, the board is developing a Community Solar Energy Pilot Program, which would enable more New Jersey residents to access solar energy.
“When it comes to our clean energy future, the Murphy administration has captured the hearts and minds of the public and has shown, beyond abstractions, what the future can look like,” Fiordaliso said. “The Board’s role is to devise the practical implementation of this vision. I look forward to building the strong ties we have with the solar industry, the environmental community, and with the environmental justice community to ensure that New Jersey’s solar energy future is sustainable, equitable, and serves the needs of all ratepayers.”
