The New Jersey Renewable Energy Manufacturing Incentive REMI program provides cash incentives for new solar installations that purchase solar panels, inverters and racking systems manufactured in New Jersey. You must purchase the products from a manufacturer that has been approved to participate in the NJREMI program. The program budget is $1.0 million so just like other solar incentives in New Jersey you may want to act fast before the money runs out. Projects in both the Renewable Energy Incentive Program REIP and the SREC Registration Program SRP are eligible. The incentive will be capped at 500kW per project.
Renewable Energy Manufacturing Incentives:
|Residential: 0 – 10 kW||$0.25||10 kW||$2,500|
|Non-Residential: 0 – 50 kW||$0.14||50 kW||$7,500|
|Non-Residential: 51 – 100 kW||$0.12||100 kW||$12,000|
|Non-Residential: 101 – 500 kW||$0.08||500 kW||$40,000|
|Residential: 0 – 10 kW||$0.15||10 kW||$1,500|
|Non-Residential: 0 – 50 kW||$0.09||50 kW||$4,500|
|Non-Residential: 51 – 100 kW||$0.07||100 kW||$7,000|
|Non-Residential: 101 – 500 kW||$0.05||500 kW||$25,000|
As of March 15, 2011 the approved companies and products are:
|Panels and Inverters|
|Systems and Inverters|
|Panels and Integrated Racking System|
|Advanced Solar Products
|Fiore Solar Products
|Renewable Energy Holdings
There is also a bill in the New Jersey Legislature that will give a Solar Renewable Energy Certificate SREC for every 850 kw of power instead of 1000kw for facilities that utilize solar products manufactured in New Jersey. The bill is in its infancy and has yet to define what qualifies a “made in NJ” solar array in terms of panels, racking or inverters.
More on Flett Exchange:
Flett Exchange is a leading environmental exchange and brokerage firm. Our online trading platform brings transparency, price discovery, and liquidity to Solar Renewable Energy Certificates (SRECs). Over 2,500 active clients utilize Flett Exchange to negotiate the price, quantity, and details of SRECs in a secure and seamless online trading platform. Upon each SREC transaction Flett Exchange remits immediate payment to our sellers (it’s simple sell a SREC and get a check!) Flett Exchange operates SREC markets in NJ, PA, DE, MD, OH, CT, MA, and DC and supported by trained solar professionals with specialized knowledge and proven experience.
Flett Exchange brokers bilateral long-term SREC contracts between qualified counterparties. Flett Exchange buyers and sellers can secure price, quantity, and terms of SREC contracts 1-7 years in duration. Our stringent vetting process ensures that quality solar projects are presented to the market in a skillful manner. Buyers and sellers utilize Flett Exchange for long-term SREC contracts gain direct access to large pools of SRECs, while mitigating risk and locking-in profits. Please visit www.flettexchange.com to learn more about our services.