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
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).
"Class 1" Designation required in "New Jersey" Column in GATS
New Jersey sited for Solar
PJM footprint for all others
June through May
3 years
|
Year |
ACP |
% RPS Class 1 |
|---|---|---|
|
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% |