EnterSolar’s clientele is comprised largely of conservative corporate entities interested in the long term financial benefits (and environmental benefits – but often in that order) of solar photovoltaic systems.
As a consequence, in states that utilize solar renewable energy credits (SRECs) like New Jersey, we favor long-term SREC pricing arrangements that can provide our projects with the long-term cash flow visibility and certainty that our corporate clients demand.
NJ, the current undisputed solar champion of the northeast (and of the US on a per capita basis), has installed more solar than any other state except much-larger CA. However, NJ’s market for SRECs has been extremely volatile, with spot market prices ranging from a high of over $650 to under $100 more recently. This volatility results in major uncertainty over the future realizable value of a solar project’s SREC revenue stream, which is often the largest “value driver” or a NJ commercial solar system.
As a result, EnterSolar has long been a proponent of the long-term “Utility Financing” programs, (aka the “EDC” programs”), under which the NJ utilities provide long term 10-15 year SREC contracts for system owners. We utilized these programs extensively for our NJ clients until the programs expired at the end of 2011.
The great news is that Governor Christie has been a supporter of these programs, and the Board of Public Utilities recently announced an extension of these Utility Financing programs, with an expected roll out in Q1 of 2013.
Whether your company is interested in assessing the purchase of a solar photovoltaic system, or just wants to purchase the clean electricity from an onsite solar system (immediate monthly cash savings with zero capital investment required), let EnterSolar demonstrate how these new long term SREC programs can benefit you.