"New Jersey Solar Renewable Energy Credits - Is The Future Really That Bright?"
December 16, 2010
December 16, 2010 - Cutting Edge Magazine - John Giunco and Vincent DeSimone, members of the Real Estate, Land Use and Development Practice Area at Giordano, Halleran & Ciesla, P.C., have authored an article in Cutting Edge Magazine. “New Jersey Solar Renewable Energy Credits – Is The Future Really That Bright,” discusses the establishment of financing to support the installation of solar photovoltaic systems that produce clean renewable energy on an individual user’s site. Once an owner is eligible, every time a credit is earned it can be sold. Current SREC pricing has been consistent and in a $450-$600 per SREC range. The end-user, the utility ratepayer, largely funds the SREC program through a Societal Benefits Charge on their utility bill. Data provided by the NJPBU demonstrates that in 2008 56% of the Societal Benefits Charge funds collected were allocated to electric and natural gas efficiency programs, while the remaining 44% were allocated to renewable energy initiatives.
To read the full article, click here.
|Tags: John A. Giunco, Vincent M. DeSimone, Real Estate, Land Use & Development|
Posted in: Land Use & Development Law