CPM Reports on Solar Renewable Tracking System for NJ
Los Altos, CA-based Clean Power Markets, Inc. (CPM) recently announced that the state of New Jersey has successfully established a new tracking and trading system for solar renewable energy certificates (SRECs).
According to CPM, the New Jersey SREC Program tracks solar electricity production and issues SRECs each month to the solar system owners, with the state’s Solar Renewable Energy Certification Program and trading system facilitating trading between SREC buyers and sellers.
CPM noted that all owners of solar electric systems in New Jersey who are interconnected to the state’s electric distribution system are eligible to participate in the program. Load-serving entities are required to procure a certain percentage of their electricity supply from photovoltaics and demonstrate their compliance through participation in the program.
“New Jersey’s SREC Program is vital to building a vibrant market for solar energy in New Jersey,” said New Jersey Board of Public Utilities president Jeanne Fox. “The sale of SRECs provides additional revenue to solar system owners, a means for utilities to meet their regulatory requirements and an opportunity for other private interests to invest in New Jersey’s solar market.”
Contact: Jan Pepper, CPM, phone 650-949-5719, e-mail pepper@cleanpowermarkets.com.
(EIN STAFF: 5/31)
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