How to Get New Jersey SRECs in 2024 (Updated)

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The latest development in the New Jersey solar market (2024-2025) s the Administratively Determined Incentive (ADI) Program, part of the Successor Solar Incentive (SuSI) framework, designed to provide stable, long-term financial incentives for solar energy projects.

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What is the ADI Program?

The ADI Program offers predetermined incentive levels for eligible solar facilities.

This program aims to support various types of solar projects, including residential, non-residential, and community solar projects, by providing predictable and stable financial returns.

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How the ADI Program Works

Eligibility and Registration Process:

1. Determine Eligibility: The ADI Program is open to net-metered residential projects, non-residential projects up to 5 MW, and community solar projects. All solar equipment must be new and connected to a distribution or transmission system owned or operated by a New Jersey public utility or local government unit.
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2. Prepare Documentation: Gather all required documents, including the ADI Initial Registration Checklist, ADI Registration Certification Form, and relevant Disclosure Forms (purchase, lease, or PPA).
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3. Submit Initial Registration Packet:
   • Complete the ADI Initial Registration Checklist for Behind-the-Meter Projects.
   • Submit the ADI Initial Registration Packet through the ADI online registration portal (https://njadi.customerapplication.com/apply).
   • Ensure all forms are filled out accurately and all necessary documentation is included.
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4. Review and Acceptance:
   • The ADI Program Team will review the submission.
   • Incomplete packets will be identified and must be corrected promptly.
   • Once approved, the project will be registered in the ADI Program.
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5. Project Execution and Reporting:
   • Complete the installation of the solar system as per the approved design.
   • Submit quarterly Milestone Reporting Forms for projects greater than 1 MW (dc).
   • Upon completion, submit the Final As-Built (Post Construction Certification) Packet.
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6. Receive Incentives:
   • Upon receiving permission to operate (PTO) from the Electric Distribution Company, the solar facility becomes eligible to generate SREC-IIs based on the approved incentive values.

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Incentive Values in the ADI Program

• Net-Metered Residential: All sizes receive $85 per SREC-II.
• Small Net-Metered Non-Residential (Rooftop, Carport, Canopy, Floating Solar): Projects smaller than 1 MW receive $110 per SREC-II.
• Large Net-Metered Non-Residential (Rooftop, Carport, Canopy, Floating Solar): Projects 1 MW to 5 MW receive $100 per SREC-II.
• Community Solar (Low-to-Moderate Income, LMI): Projects up to 5 MW receive $90 per SREC-II.

How Currents Can Help

Navigating the complexities of the ADI Program can be challenging, but Currents is here to assist you every step of the way. Here’s how we can help:

1. Eligibility Assessment: Currents will help determine your project’s eligibility for the ADI Program, ensuring you meet all the necessary criteria.
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2. Documentation and Registration: Our team will assist you in gathering and completing all required documentation, ensuring a smooth and accurate registration process.
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3. Project Management: From initial design to final installation, Currents provides comprehensive project management services, including submitting Milestone Reporting Forms and the Final As-Built Packet.
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4. Incentive Optimization: We will help you maximize your incentives by ensuring your project is optimized for the highest possible SREC-II values.
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5. Long-term Support: Currents offers ongoing support to ensure your solar system continues to perform optimally and that you receive the full benefits of the ADI Program over the 15-year incentive period.

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Conclusion

The ADI Program represents a significant opportunity for New Jersey residents and businesses to invest in solar energy with predictable financial returns.

With Currents as your partner, you can navigate the registration process with confidence and take full advantage of the incentives available under the ADI Program. Contact us today to learn more about how we can help you harness the power of the sun and contribute to a greener future.

For detailed information on the ADI Program registration process, you can refer to the ADI Program Behind-the-Meter Initial Registration Checklist.

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