New Jersey Solar Successor Program need to adopt hybrid motivation strategy, report concludes

• New Jersey ought to relocate to a hybrid solar incentive design to much better web link project support and consumer benefits, a report has actually ended.

Such a strategy, wherein large-scale projects go into competitive tenders while smaller installs obtained fixed incentives, ought to be the main focus of the state's Solar Successor Program.

The Capstone Report draft, created by professionals Cadmus Group in behalf of the New Jersey Board of Public Utilities (NJBPU), advises transitioning away from an affordable "market-style" method taken on by New Jersey within its Solar Renewable Energy Certificate (SREC) program.

Instead, a hybrid approach must be created which utilizes affordable solicitation approaches for grid-scale projects, however dealt with incentives for smaller-sized systems. This would, the report wraps up, generate incentives that are more closely connected to the degree of support needed while saving ratepayers cash.

The fixed-incentive programme should be implemented in an "always on" basis and enhance web metering incentives in the near term order to give strong assurance as well as financeability for projects in this field, nevertheless Cadmus has stated this could develop towards more of a complete settlement design, which shows a project's all natural worth to the whole energy system, in the longer term.

Cadmus has additionally suggested that any kind of follower policy should effectively separate between project classes, mount types, areas and innovations made use of to ensure a "robust as well as varied fleet" of projects is released, keeping in mind the many moving elements that can influence upon a project's economics.

Joseph L. Fiordaliso, head of state at NJBPU, hailed the collaborative style that the state's solar shift had been performed, saying it worked as a "true reflection of just how important the solar market is-- and also will continue to be-- to the Garden State."

"The plentiful renewable energy and countless work produced by our solar partners throughout the state are crucial to getting to Governor Murphy's vision of 100 percent clean energy in New Jersey. I'm positive that the strenuous strategy we've applied, and also will continue to use throughout this procedure, will provide the most effective possible outcome for a healthy and balanced and also lively industry to those in the business neighborhood while guaranteeing its affordability for New Jersey customers," he stated.

Download report: NJ Solar - Draft Capstone Report 2020-08-11