NJ Transition Renewable Energy Certificate (TREC/SREC-II)

The NJ Transition Renewable Energy Certificate (TREC/SREC-II) lets New Jersey solar owners sell renewable energy credits generated by their system, tracked as a solar incentive in DSIRE. Eligibility is scoped to residential customers, with a stated benefit of $90-$152/SREC (2026 prices). DSIRE lists no scheduled sunset, though enabling legislation and appropriations can still be revised year to year.

That baseline is slower than most states, which raises the stakes for every incentive on the table. New Jersey averages 4.5 kWh/m²/day of usable sunlight and residential rates of 18.5¢/kWh, producing an estimated 7,884 kWh/year and $1,459 of annual utility offset on a typical 6 kW system costing $18,600. That baseline already implies a 12.8-year simple payback and a 25-year modeled net of roughly $17,875 before this incentive - every dollar this srec / renewable credit delivers compresses that payback further.

New Jersey bundles a deep incentive stack, so this program rarely stands alone. New Jersey has 5 solar incentive programs indexed in DSIRE, including adjacent options like NJ Renewable Energy Property Tax Exemption, NJ Solar Sales Tax Exemption, NJ Net Metering. The state's net-metering policy is classified as full, which governs how excess generation is credited and often decides whether a given program is worth claiming for a specific household.