NEW JERSEY TREC SOLAR INCENTIVE PROGRAM

A ROBUST FINANCIAL ENGINE FOR CLEAN ENERGY PROJECTS

The NJ Transitional Renewable Energy Certificate (TREC) was launched by the Board of Public Utilities in May 2020 to fill the void created by the closure of the existing program. Under the TREC program, solar installations are eligible for a fixed renewable energy incentive for 15 years.

The TREC program prioritizes investment in commercial/industrial development versus converting open space to support solar installations. The financial benefit can be tailored to drive a significant reduction in energy costs or an incremental revenue stream.

HOW DOES THE NJ TREC SOLAR INCENTIVE STRUCTURE PROVIDE A GUARANTEED 15-YEAR FINANCIAL RETURN?

The TREC incentive of $152 (15.2c per kWh) is guaranteed by the state of New Jersey for 15 years for the total output of the solar installation.  Unlike previous solar incentive programs in NJ,  the TREC incentive is a fixed, consistent financial engine that produces clearly defined long term project economics.  As the name suggests, the TREC program is transitional and is currently slated to phase out at the end of 2020.