By order of the BPU based on legislation passed and signed by Governor Murphy, the New Jersey SREC program in its current form will close to new systems as of 4/30/2020. The closing is based on legislation requiring the program to close once 5.1% of the energy in the state comes from solar power.
All systems that are in the current SREC program will stay in that program for the qualified life of their system with no changes. Let us repeat, any system currently receiving SRECs will continue to receive them. This change is for new systems only.
Systems need to have had a completed interconnection agreement with their utility date 4/30/2020 or earlier to participate in the current SREC program. Otherwise, they will go into a new transition program.
The state of NJ is currently working on a successor program to incentivize future solar installations. We will keep you updated as we hear more.