Solar Energy F.A.Q.
How will I get electricity to run my business if there are clouds?
Your utility company will always co-exist with your solar installation, so you will never be without the electricity you need to run your business.
How long do these Solar PV panels last?
Most manufacturers guarantee a performance warranty of 25 years, With proper maintenance, solar panels are expected to last 30-35 years from the time of installation. Many Inverters, another critical component, have a warranty life of 5-15 years.
What happens if my system produces more electricity than I am using at that moment?
The excess electric flows back out over your existing electric lines and spins your meter backwards. You earn a credit at your high retail rate until the sun goes down and your meter spins forward again. The law allowing users to spin their meter backwards is called Net Metering.
What is an SREC?
SREC stands for Solar Renewable Energy Certificate. This is a tradable certificate representing the clean energy benefits of electricity generated from your solar electric system. An SREC can be sold or traded separately from the power you generate and actually use. Once a solar facility generates 1000kWh (1MWh), you earn an SREC. The market for SRECs exists because suppliers of electricity in New Jersey are required by statute to acquire an increasing percentage of the electricity they supply in the state from clean renewable sources of energy. This requirement is embodied in New Jersey’s Renewable Portfolio Standard. Suppliers of electricity can either build their own renewable energy systems (solar, wind, hydro), or they can buy the SRECs from individuals and businesses that install or own renewable energy systems. Users who purchase solar electric systems receive payments when they sell the SRECs associated with the electric production of their system.
Who is eligible to participate in the New Jersey SREC Program?
All solar system owners in New Jersey with grid connections can set up an account for the sale of SRECs. Standard Alternative will assist every system owner to ensure proper payments for SRECs or manage the system for you.
What portion of my electricity is eligible for the program?
Each kWh produced by your solar electric system that is metered or that is verified through an approved method of estimation, is eligible to be counted towards SRECs. The date that your system is approved for connection to the grid, you start generating SRECs!
How are SRECs generated and sold?
Once you have registered and established an account for your system, SRECs will be generated each month and deposited into your account. Once SRECs are in your account, you can sell them. New Jersey SREC’s can only be generated in New Jersey and only bought and sold in New Jersey. In other words our market is closed to out of state SREC sales or buyers. Once your SREC’s are sold, the proceeds go directly into your account. SREC’s in New Jersey are presently selling in excess of $600 per SREC.
Who buys New Jersey SRECs?
SRECs can be bought by electricity suppliers, renewable energy marketers, private businesses and individuals interested in supporting the development of solar energy. Electric suppliers that are required to purchase SRECs, interested ‘aggregators’ and brokers are available on the SREC website.
Can someone else sell my SREC for me?
Yes, solar electric system owners may have agreements with agents like Standard Alternative to handle the disposition or sale of their SRECs. However, only one party can claim ownership or rights to an SREC at any one time. Each solar electric system can be linked to only one SREC account. For any person or entity to be authorized to sell or trade SRECs, that person or entity must provide a written agreement with each solar system owner. The BPU will then link those solar electric systems to the appropriate electronic SREC account.
How often can an SREC be sold?
An SREC can be sold an unlimited amount of times, but only to one party at any time. No single SREC can be jointly claimed by two parties.
If I don’t sell my SREC what are my options?
If you choose not to sell your SREC, you can “retire” them. This means that you maintain rights to all the clean energy benefits and nobody else will claim those benefits or count them towards their goals or mandates. You can post retired SRECs on your account.
What areas of New Jersey does Standard Alternative install solar panels in?
Standard Alternative provides solar panel installation throughout all of New Jersey. Our office is located in Hudson County, NJ, and we will install solar panels throughout all 21 New Jersey counties.
Have any other solar installation questions not addressed here?
Contact Us, and we'd be more than happy to help you out!
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New Jersey Solar Panel Installation • New Jersey Solar Panel Installers • New Jersey Solar Energy Solutions
New Jersey Commercial Solar Panel Installation • New Jersey Residential Solar Panel Installation
Located in Hoboken, NJ / Hudson County, and serving all of New Jersey