The Solar Renewable Energy Certificate (SREC) tracking system enables account holders to track solar energy production from individual generators. SRECs are issued to account holders based on recorded or estimated production of the solar energy installation. However, rule amendments to the RPS at the N.J.A.C. 14.8-2.9 were proposed on March 30, 2011 which will require, subsequent to adoption, readings of an ANSI C12 meter that records megawatt-hour production of electrical energy for the purposes of SREC production. This rule would require that systems less than 10kW may no longer  use estimated production for the purpose of SREC generation and the SREC account holders must report  energy data to the SREC Administrator via the SREC Administrator’s web interface. All previously installed solar systems would be required to install an ANSI C12 meter to comply with this rule amendment.  If the proposed rule amendment is adopted by the NJBPU, this requirement would go into effect six months from the date of the adoption by the Board. The Market Manager may conduct site visits upon written request from the OCE to verify the installation of ANSI C12 revenue grade output meters on randomly selected solar projects.

Once your solar energy system has been installed and your online SREC tracking system account has been established, SRECs will be deposited in your account. The SREC tracking system also records the sale of SRECs from generators to purchasers.

REIP System Owners
Owners of solar projects developed through the Renewable Energy Incentive Program (REIP) will receive a letter from New Jersey’s Clean Energy Program^TM once their projects have been completed, providing them with their New Jersey certification number and instructions on how to establish an account with the SREC tracking system.  Once an account has been established, it can be accessed from the log in page.

SRP System Owners
Owners of solar projects developed through the SREC Registration Program must register their projects before they are eligible to establish an account with the SREC tracking system. Upon project completion, SRP system owners will receive a letter from New Jersey’s Clean Energy Program providing them with their New Jersey certification number and instructions on how to establish an account with the SREC tracking system. Once an account has been established, it can be accessed from the log in page.

How do SRECs work?

Each time a project generates 1,000 kWh of electricity, an SREC is earned. System owners report the energy production to the SREC tracking system, which allows SRECs to be placed in the customer's electronic account. SRECs can then be sold on the SREC tracking system, providing revenue for the first 15 years of the project’s life.

Electricity suppliers, the primary purchasers of SRECs, are required to pay a Solar Alternative Compliance Payment (SACP) if they do not meet the requirements of New Jersey’s Solar Renewable Portfolio Standard (RPS). One way they can meet their RPS requirements is by purchasing SRECs. As SRECs are traded in a competitive market, the price may vary significantly. The actual price of an SREC during a trading period can and will fluctuate depending on supply and demand.

How do I sell SRECs?
There are many ways you can sell SRECs. Visit our trade ally database for a listing of SREC aggregators and brokers. 

Who manages the SREC tracking system?
New Jersey's Clean Energy Program uses the SREC tracking system developed and supported by PJM-EIS.  

Contact:

PJM-EIS GATS
SREC tracking system administrator
610-666-2245
GATSAdmin@pjm-eis.com
www.pjm-eis.com