Details
Solar facilities that have outlived their 10 or 15 year SREC eligibility automatically qualify for New Jersey Class 1 RECs.
Example: "Date online" July 2008 to June 2009 produce their last SREC in May of 2024 and produce their first Class 1 REC in June of 2024
Eligible Systems
Solar technologies, photovoltaic technologies, wind energy, fuel cells powered by renewable fuels, geothermal technologies, wave or tidal action, methane gas from landfills, or a biomass facility, provided that the biomass is cultivated and harvested in a sustainable manner.
As a result of S.B. 1925, Class I renewable energy also includes hydroelectric facilities of 3 MW or less that are located in NJ and placed in service after July 23, 2012 (the effective date of S.B. 1925).
Eligible Location
Energy Year
Useful Class 1 REC Lifetime
RPS Requirements
| Year | SACP | RPS % |
|---|---|---|
| 2022 | $50.00 | 21.00% |
| 2023 | $50.00 | 22.00% |
| 2024 | $50.00 | 27.00% |
| 2025 | $50.00 | 35.00% |
| 2026 | $50.00 | 38.00% |
| 2027 | $50.00 | 41.00% |
| 2028 | $50.00 | 44.00% |
| 2029 | $50.00 | 47.00% |
| 2030 | $50.00 | 50.00% |
| 2031 | $50.00 | 50.00% |
| 2032 | $50.00 | 50.00% |
| 2033 | $50.00 | 50.00% |
Specifications of the NJ Class 1 Class 1 REC market in 2025: the Class 1 RECs have a lifetime of 3 years, the current solar alternative compliance payment (SACP) is $50.00 and the renewable portfolio standard is 50.00%.