BPU stakeholder meeting about SREC program changes

A stakeholder meeting is scheduled for January 30, 2008 at 10 am in the Board of Public Utilities Hearing Room on the 8th floor of Two Gateway Center in Newark, NJ. They will be discussing the changes proposed during the September 12 BPU board meeting regarding the SREC program. The changes will be made to the NJ Renewable Portfolio Standard.

The proposed changes will affect the 2009 energy reporting year which includes energy produced from June 1, 2008. The major proposed changes are raising the Solar Alternative Compliance Payment from $300 to $711. This is the payment electricity producers will have to make for the shortfall in solar production or in the shortage of SRECs purchased to comply. There also may be an extension to the life of an SREC from one year to two years. Also, there may be a 15 year limit put on systems to generate SRECS.

These changes have profound impacts on the future value of SRECS.

New Jersey