NJ BPU seeks reforms to the state’s SREC market – says oversupply threatens price stability

On November 2, the BPU issued a Request for Public Comment in the Generic Solar Proceeding, asking for comments by November 17th, and scheduling hearings for December 4, 5 and 8. The generic proceeding considers restructuring the New Jersey SREC market and incentives for solar development. Electricity suppliers, the primary purchasers of SRECs, are required to pay a Solar Alternative Compliance Payment (SACP) if they do not meet the requirements of New Jersey’s Solar RPS. As SRECs are traded in a competitive market, the price may vary significantly. Staff and stakeholders will meet to refine the draft questions prior to the hearing.