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State schedules solar summit to discuss stabilizing prices
With many in the solar industry worried about its prospects in New Jersey, the state will convene a stakeholders’ meeting this week to focus on what, if anything, should be done to stabilize a sector some say is in danger of collapsing.
The session, to be convened by the state Board of Public Utilities (BPU) in Trenton on Thursday, comes at a time when the price of solar renewable energy certificates (SREC), the primary means of financing the installation of new systems, has fallen precipitously.
The cause, most agree, is an oversupply of the certificates resulting from a flood of investment by developers large and small seeking to take advantage of generous ratepayer subsidies and lucrative federal tax incentives to cash in on the fast-growing solar program. With an oversupply of the certificates, there has been steep decline in the prices they earn for producing electricity from the solar systems. (Johnson, NJ Spotlight)