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.
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
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."