New Jersey has long been one of the leading states in home solar. Above-average electricity prices and the state’s Solar Renewable Energy Certificate (SREC) program provide some of the best returns on a home solar investment in the country.
Recently there have been several changes to this program with the initial SREC program being replaced by the Transitional Renewable Energy Certificate (TREC) program on April 30, 2020. Subsequently the TREC program was replaced by the SREC-II program on August 28, 2021. We discuss the details and how the changing programs will affect you here, but with the SREC-II program now in place, you’re probably wondering: Is home solar still a good investment in New Jersey?
The short answer is YES, but let’s illustrate that with some numbers.