BPU clarifies all solar credits after October have 10-year lifespan

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Solar Panels

MICHELLE BRUNETTI POST / PRESS OF ATLANTIC CITY – All Solar Renewable Energy Certificate (SREC) applications made after Oct. 29 will have a lifespan of 10 years, according to an order issued Monday by the New Jersey Board of Public Utilities.

It clarifies language in the 2018 Clean Energy Act, signed by Gov. Phil Murphy in May, according to the BPU. The law’s language said the ten-year term applied only to projects seeking connection to the distribution system. It implied other projects had no term limit.

“This action by the Board clarifies the SREC life span and is in line with the intent of the Clean Energy Act, which is that all SRECs have a life span of ten years, not only certain projects seeking connection to the distribution system,” said NJBPU President Joseph L. Fiordaliso …

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