New Jersey SREC vs TREC Market

Learn about the New Jersey SREC and TREC markets to see how much you can sell your credits for.

Last updated
July 7, 2024
Author: Matt from Currents
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The dates and prices for Behind-The-Meter (BTM) generators for SREC, SREC-II, and TREC in New Jersey are structured as follows:

SREC (Solar Renewable Energy Certificate)

  • System Connection Date: Before October 29, 2018
  • Price: Historically ranged between $200 to $300 per SREC, depending on market conditions.
  • Length of Availability: Typically available for 15 years from the system connection date.

SREC-II (Successor Solar Incentive Program)

  • System Connection Date: October 29, 2018, to April 30, 2020
  • Price: Similar to original SRECs, prices were market-based but aimed for more stability, typically around $200 per SREC-II.
  • Length of Availability: Typically available for 15 years from the system connection date.

TREC (Transition Renewable Energy Certificate)

  • System Connection Date: May 1, 2020, to the present
  • Price: Fixed at $152 per TREC depending on the type of install*, which provides financial predictability compared to the SREC programs.
  • Length of Availability: The TREC program offers a stable incentive structure that lasts for 15 years.

Factors Affecting TREC Pricing*:

TRECs are assigned different values based on the type and location of the solar installation:

  • Residential Rooftop Solar: Factor of 0.6, earning $91.20 per TREC.
  • Non-Residential Rooftop and Carport Solar: Factor of 0.6.
  • Ground-Mounted Solar (landfills, brownfields): Factor of 1.0.
  • Ground-Mounted Solar (standard): Factor of 0.6.
  • Community Solar: Factor of 0.85.
  • Grid-Supply Solar: Factor of 0.6.

The TREC program offers a stable incentive structure that lasts for 15 years, helping participants forecast their earnings more accurately compared to the market-based SREC and SREC-II programs​

Sources:

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