23 Jul '12, 6pm

New Jersey Updates Solar Law To Keep Its Market Perch

The new law will require utilities to buy more solar energy in a move to resuscitate a faltering market for solar energy credits, which fetched over $600 each a few years ago but crashed to nearly 25 percent of that value toward the end of 2011. The state requires its utilities to buy an increasing amount of renewable energy, and it includes a specific requirement for solar. Utilities can meet the renewable energy mandate by buying the energy credits from project developers. With the new law, the utilities will have to speed up their solar energy purchases by about four years, and that requirement should also boost demand for the energy credits. Developers can also hold onto the credits for five years instead of three, a change that will give them more time to sell the credits at an opportune time. On the other hand, it also makes it tougher to forecast the energy credit m...

Full article: http://www.renewableenergyworld.com/rea/news/article/2012...

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