New Jersey legislature fails to vote on bill to increase SREC purchase requirements

Sunday, 1.15.2012 - 18:05 (Solarserver)

On January 9th, 2012, New Jersey's legislature ended the final voting session of the current legislative year without voting on a bill that would have required utilities to purchase more solar renewable energy credits (SRECs) each year. After the failure of S-2371 to come to a vote, solar advocates will have to introduce another bill in the new legislature, or seek action through state utility regulators. Proponents say that an increase in the solar "carve-out" in the state's renewable portfolio standard (RPS) is necessary due to a solar photovoltaic (PV) market that far exceeded mandates, resulting in declining prices for SRECs. Read more