New Jersey to back 3.75 GW of fresh solar with new incentive plan

Jul 29, 2021 11:44 AM ET

The New Jersey Board of Public Utilities (NJBPU) on Wednesday gave the nod to a plan to change its existing solar assistance system with a new incentive programme that is attended support approximately 3.75 GW of solar releases by 2026.

New Jersey to back 3.75 GW of fresh solar with new incentive plan — Image: Twitter @SFGrAdventure

The new framework, called the Successor Solar Incentive Program (SuSI) will replace the current Solar Renewable Energy Certificate (SREC) plan on August 28. It will certainly have 2 sub-programmes whereby the state will certainly honor incentives for projects of various abilities.

Extra specifically, net-metered solar projects of approximately 5 MW, both domestic as well as most commercial and industrial ones, in addition to community solar plans, will be entitled to a 15-year fixed settlement under the so-called Administratively Determined Incentive (ADI). The size of the support will certainly vary in between USD 70 (EUR 59.02) and also USD 120 per MWh as well as will certainly depend on the project type and also capacity. More details are available in the table below.

Market segment	Capacity (MWdc)	Incentive Value (USD/SREC-II)	Incentive Value for Public Entities (USD/SREC-II)
Net Metered Residential	All types	90	N/A
Small Net Metered Non-Residential on Rooftop, Carport, Canopy and Floating Solar	Less than 1 MW	100	120
Large Net Metered Non-Residential on Rooftop, Carport, Canopy and Floating Solar	1 MW - 5 MW	90	110
Small Ground Mount Net Metered Non-Residential	Less than 1 MW	85	105
Large Ground Mount Net Metered Non-Residential	1 MW - 5 MW	80	100
Community Solar Non-Low-and Moderate-Income (LMI)	Up to 5 MW	70	N/A
Community Solar Low-and Moderate-Income (LMI)	Up to 5 MW	90	N/A
Interim Subsection	All sizes	100	N/A

Grid-connected as well as net-metered commercial as well as industrial projects larger than 5 MW will certainly be sustained with the Competitive Solar Incentive (CSI). Projects in this classification will take part in competitive solicitations, the very first one of which is attended be introduced in early-to-mid 2022.

The SuSI program will offer one New Jersey Solar Renewable Energy Certificate-II (NJ SREC-- II) for every single MWh of solar power generated. An extra USD 20 per MWh will certainly be provided to projects by public entities and a short-term incentive will certainly be attended to photovoltaic panels on polluted lands.

Presently, New Jersey has 3,655 MW of solar parks in operation. The state has actually established a goal of using 100% of clean power by 2050.

Tags:

Source:

renewablesnow.com

1274

Also read

SOLAR DIRECTORY

Solar Installers, Manufacturers

Solar Energy News & Directory
List Solar is your exclusive solar information website. We keep you up-to-date with recent solar R&D as well as existing and forthcoming technologies. We provide the top solar news and publication as well as directory of solar companies around the globe.