Earlier today, the New Jersey Board of Public Utilities (BPU) issued an order to clarify that all SREC applications submitted after October 29, 2018 will only receive 10 years of SREC eligibility.
This order means that all New Jersey Office of Clean Energy SREC Registration Program (SRP) applications submitted after 11:59pm ET today will be subject to 10 years of SREC eligibility instead of 15 years.
Please also note that applications received by the BPU for conditional certification pursuant to Subsection T prior to today’s deadline that fulfill all conditions established by the BPU shall receive 15-year SREC eligibility.
Since the May 23rd passage of Assembly Bill 3723 (AB-3723) and Senate Bill 2314 (SB-2314) to increase the state’s Renewable Portfolio Standard (RPS) requirements, there had been some confusion regarding when the effective date took place for the new 10-year eligibility period. Today’s NJ BPU order clarifies that confusion.