Local Law Blogs

New Jersey's Renewable Energy Incentive Program

By Vincent J. Mangini

The Renewable Energy Incentive Program (REIP), which is part of the Board of Public Utilities' Clean Energy Program offers New Jersey utility customers, who contribute to the societal benefits charge authorized by Section 12 of the Electric Discount and Energy Competition Act (N.J.S.A. 48:3-60), access to the renewable energy certificate (REC) market and rebates for the installation of renewable energy systems, such as solar, wind, and sustainable biomass facilities at existing residential and non-residential buildings and in connection with new construction located in Smart Growth areas (i.e. Planning Areas 1 and 2 and designated centers).  For example, persons who submitted complete and qualifying rebate applications for solar installations during Funding Cycle 2 (which began on May 3, 2010) prior to May 12, 2010 were eligible to receive $1.35 per watt for residential projects and $0.80 per watt for non-residential projects.

Due to the large number of applications received by the Board of Public Utilities at the outset of Funding Cycle 2, new applications for solar rebates are no longer being accepted. However, additional monies may become available for solar rebates when Funding Cycle 3 opens on September 1, 2010.

 

Full post as published by New Jersey Law Blog on May 17, 2010 (boomark / email).