The Entech Group, a leading engineering, environmental and solar energy company in NJ is very optimistic about the future of solar energy with Governor Christie on their side. The Governor is expected to sign legislation (Bill S1925/A2966) that would revive the solar energy sector by increasing the amount of solar energy state utilities must buy.
In June of 2011, New Jersey set a new single-month record for installed solar capacity and solar power installations, second only to California. Then, in first quarter of 2012, New Jersey surpassed California and became the biggest U.S. solar market by megawatts installed.
Since then, however, the installation of solar energy systems in NJ has plummeted when the price of SREC’s (Solar Renewable Energy Certificates), fell by more than half and the market was flooded with credits.
New Bill Could Attract New Solar Energy Investors in NJ
Proponents of the bill, including solar energy companies in NJ like The Entech Group, believe that this new legislation will help absorb the overabundance of SRECS, increase their value and attract new solar investors.
Governor Christie is an outspoken supporter of solar power and is expected to sign the legislation shortly. “If this bill passes, I’ll sign it,” he said. “It’s going to help the market significantly and help the expansion of the solar industry in the state.”
Thomas A. Furey, P.E, LSRP and Vice President of The Entech Group is quoted, “We are confident about the future growth of solar energy in NJ. This new legislation will revive the solar market which will benefit not only the environment but the job market as well.”
For more information on how Bill S1925/A2966 affects residential and commercial solar panel installations, call The Entech Group at (866) 548-0208.