In May 2020 New Jersey launched a new solar incentive program, the Transition Program Renewable Energy Credits. The NJ TREC is the transitional program from the original SREC program.
A TREC is a sellable certificate that represents all the clean energy benefits of the electricity generated. A TREC is awarded each time a solar electric system generates 1,000 kilowatt hours (1 MWh) of solar electricity, which then can be sold for cash.
NJ TREC’s will hold a fixed-price value for a 15 year time period. The price of a TREC is $91.20 for residential solar projects and $152 for roof-mounted commercial solar projects. For the first time in New Jersey, solar energy producers will know that their incentive price is guaranteed.
This new fixed-price structure offers more confidence in the incentives and additional revenue that comes with New Jersey solar systems for both residential and commercial solar projects. Take advantage of this never before incentive in New Jersey while it lasts!