Solar Energy Srec vs Trec

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SREC - Solar Renewable Energy Certificate

TREC Transition Renewable Energy Certificate

SREC was the original New Jersey state incentive program which has closed its existence in June of 2021. This was a result of 5.1% milestone previously set by the New Jersey state Governor, as part of the signed Clean Energy Act on May 2018. Once state's solar production has reached 5.1%, SRECs were to cease to exist. SREC pricing was variable and dependent on market supply and demand. 

TREC program is now the current state incentive, which has a fixed price of $152 for every megawatt, which equates to 1,000 Kilowatts generated by the solar system. Important to note that only 60% of the TREC value will be award to the system owner ($91.20). To make this concept even more easier to understand and as an example, if you have a 10 KW system solar panels installed on your roof, you should expect to generate at least 10 TRECs annually. TREC program has been approved for 15 years. 

How can you benefit from the new Solar Energy TREC incentive? 

As your solar system generates megawatts, each certificate will earn you $91.20. If you have a 10kw system installed on your roof, you should expect to earn $912 annually. Over 15 years, that is $13,680. Our recommendation is to apply these funds against amount owned on your solar installation, cutting your loan term drastically.