Tags: solar | industry | new | jersey

NJ Solar Industry Seeks 'Legislative Fix'

Wednesday, 25 Apr 2012 08:25 AM

By Sandy Fitzgerald

  Comment  |
   Contact Us  |
|  A   A  
  Copy Shortlink
New Jersey’s once thriving solar industry may go dark unless lawmakers ramp up how much electricity energy suppliers must buy from solar power systems, experts say.
The worth of solar supply certificates is rapidly dropping because so many developers have rushed to take advantage of state and federal incentives to install the technology, reports njspotlight.com.
If the prices of the certificates, or so-called SRECs, continue to drop, industry officials believe the solar energy market could dry up by summer because it would be unable to support new solar development.
“The only thing that will help this is a legislative fix,” said Michael Flett, president of the Flett Exchange, a brokerage firm that deals in solar supply certificates. He said if the state ramps up its efforts, New Jersey could achieve its solar goals more quickly than originally thought.
Fred DeSanti, a spokesman for the New Jersey Solar Energy Coalition, agreed the problem needs to be solved.
“Either this is fixed or this is over until 2016,” he said. “Everyone will walk away from the state for two to three years. That’s really where we are at.”
The solar industry has been a bright spot in New Jersey and has grown consistently despite the state’s sluggish economy. The state is second only to California in installed solar systems.
So far, Gov. Chris Christie’s administration and state lawmakers have been unable to get the industry to settle on a compromise that would halt the solar credit price decline.

© 2014 Newsmax. All rights reserved.

  Comment  |
   Contact Us  |
  Copy Shortlink
Send me more news as it happens.
Get me on The Wire
Send me more news as it happens.
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
Zip Code:
Privacy: We never share your email.
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Top Stories

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

America's News Page
©  Newsmax Media, Inc.
All Rights Reserved