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New Jersey

New Jersey

Geographic Eligibility

Energy shall be generated within or delivered into the PJM region. If the latter, the energy must have been generated at a facility that commenced construction on or after January 1, 2003.

Reporting Year

June 1 through May 31

Banking

Class I RECs and Solar RECs can be used for compliance during the energy year in which it was generated or the following two energy years (as of July 1, 2010, the effective date of A.B. 3520). As of the July 23, 2012, the effective date of SB1925, solar RECs can be used for compliance during the energy year or the following four energy years. Class II RECs cannot be banked – they must be used for compliance during the energy year in which they were generated.

Solar Requirement

Yes, separate from Class I

Renewable Energy Sources

Tier 1

Renewable sources include solar technologies, photovoltaic technologies, wind energy, fuel cells powered by renewable fuels, geothermal technologies, wave or tidal action, methane gas from landfills, or a biomass facility, provided that the biomass is cultivated and harvested in a sustainable manner. As a result of S.B. 1925, Class I renewable energy also includes hydroelectric facilities of 3 MW or less that are located in NJ and placed in service after July 23, 2012 (the effective date of S.B. 1925).

Tier 2

Renewable sources include resource recovery facility (subject to qualifications), small hydroelectric power facility (less than 30 MW)

RPS Percentages
Energy Year Solar ACP ($/MWh) Solar Carve Out Class I Class II Total
EY 2010 $693 0.2210% 4.685% 2.5% 7.406%
EY 2011 $675 306 GWh 5.492% 2.5% 8.297%
EY 2012 $658 442 GWh 6.320% 2.5% 9.214%
EY 2013 $641 596 GWh 7.143% 2.5% 10.388%
EY 2014  $339 2.05% 7.977%  2.5%  12.527%
EY 2015 $331 2.45% 8.807% 2.5%  13.757%
EY 2016 $323 2.75% 9.649% 2.5%  14.899%
EY 2017 $315 3.00% 10.485% 2.5%  15.985%
EY 2018 $308 3.20% 12.325% 2.5%  18.025%
EY 2019 $300 3.29% 14.175% 2.5%  19.965%
EY 2020  $293 3.38% 16.029% 2.5%  21.909%
EY 2021 $286 3.47% 17.880% 2.5%  23.850%
EY 2022 $279 3.56%      
EY 2023 $272 3.65%      
EY 2024 $266 3.74%      
EY 2025 $260 3.83%      
EY 2026 $253 3.92%      
EY 2027 $250 4.01%      
EY 2028 $239 4.10%      

Alternative Compliance Payments

The Alternative Compliance Payment (ACP) is set currently at $50/MWh. The Solar Alternative Compliance Payment (SACP) schedule was updated by S.B. 1925, which established a 15-year schedule for EY 2014 to EY 2028 (see table above).

Solar Contact

New Jersey’s Clean Energy Program
SREC Registration Program
c/o TRC
317 George Street, Suite 520 
New Brunswick, NJ 08901
Phone: 1-866-NJSMART 
1-866-657-6278 
njreinfo@njcleanenergy.com

Solar & Non Solar Contact

B. Scott Hunter
Renewable Energy Program Administrator
New Jersey Board of Public Utilities
Office of Clean Energy
P.O. Box 350
44 South Clinton Avenue
Trenton, NJ 08625-0350
Phone: (609) 292-1956

Non-Solar Contact

Ronald K. Jackson
Research Scientist 2
NJ Board of Public Utilities
Office of Clean Energy
P.O. Box 350
44 South Clinton Avenue
Trenton, NJ 08625-0350
Phone: (609) 633-9868
Fax: (609) 777-3330

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