SREC Legislation on the Way in Jersey?

article by Rebecca Forand of The Gloucester County Times (as reported on NJ.COM):

From Rebecca's article:

"Not long ago, solar energy was a booming market in New Jersey, as the state became second only to California in the United States for solar production. Municipalities, schools and private home owners were all jumping on the bandwagon and installing solar panels on their roofs, public property and empty fields.

A significant drop in the price of Solar Renewable Energy Credits, or SRECs, currently has the solar industry in a holding pattern. But legislation sponsored by State Senate President Steve Sweeney (D-West Deptford) and Senator Bob Smith (D-Middlesex) aims to give it a boost.

Currently SRECs — which are earned by solar systems and must be purchased by utility companies, making solar arrays a revenue generator for their owners — are selling at $135. Just last year their value was more than $690.

Senate bill S1925 — also called 'the solar rescue bill' —  would require utility companies to purchase more each year than are currently needed by law, increasing the demand and therefore increasing the value of the credits."

Good Convo with PSE&G Today

Instead of looking for the person at PSE&G who never returns my calls or emails, I called a more general number and got somebody who actually seemed to have a feel for what's going on (after opening my file).  The long and short of it is that I'm now convinced that the solution lies with my installer, not the power company.

It was mere luck that the ancient electric meter was capable of net-metering.  Nobody at PSE&G seems be be convinced that it has that capability.  The installers sure knew.  I remember how we gathered around it and watched the dial spin backwards.

At any rate, though, PSE&G sounds like they're pretty close to cutting the order to install the meter I need.  They still need this Part B thingamajig from groSolar, though.  So my next task is to talk with them (they're in Vermont, I'll bet they'll be nice!) and ask them if they ever filed this form, and/or if they happen to have a copy, and/or if they'll do a new one for me.

I expect they'll say "No" "No" and "Yes."  Hopefully somebody will be willing to fill out and sign a new form, which I can then fax to PSE&G and end this nightmare...

More Unsold SRECS!

I left the floor selling price at $200 for the last auction.  As expected, my lone remaining SREC didn't sell.  I didn't even bother to check the going rate, which I think is much closer to $100.

So much for the Summer 2013 payoff extravaganza that I was planning (not really).

Between the plummeting value of SRECs and PSE&G's sudden refusal to allow me to net meter power back to the grid for credit, the payoff date is moving way, way out...