All new solar installed after April 30, 2020in New Jersey will qualify for a TREC instead of an SREC. If you already have solar you still generate SRECs. TRECs have no correlation to the value of your SRECs.
New Jersey electricity retailers are required to purchase a certain number of SRECs each year. The number that they buy is a preset percentage set by a schedule. It is determined by law.
If you installed solar prior to November of 2018 you get 15 years of SRECs. If you installed between November 2018 and April 2020 you qualify for 10 years of SRECS. If you install after April 30, 2020 you get TRECs. Simple.
The new TRECs ensure that new solar installations do not compete with you selling your SRECs.
You do have to worry about the decrease in electricity demand due to Covid-19 shut-downs in regard to your SREC prices. If shut-downs extend for a prolonged period of time, and if economic activity does not pick up to previous levels, energy companies will not be forced to buy as many SRECs from you. This may lead to an oversupply of SRECs and subsequent price-drop.
We suggest to always sell your SRECs on a consistent basis, especially when SREC prices are 90% of their potential which they are now.