TREC stands for Transition Renewable Energy Certificates and is New Jersey's way of offering credit incentives for additional solar savings.
Each state has set their own goals for renewable energy as our country is slowly reducing our dependency on fossil fuels. New Jersey is set to have at least 5.1% of energy produced to come from solar by the end of 2021. This is where the TREC system comes into play for residents of New Jersey, Enabling them to save even more with solar.
After you decide to go solar and have your system installed you become eligible to enroll in the TREC system. This is a roughly a four step process requiring different things along the way. For more info on the steps you can check out their website at www.trecsnj.com.
Once you are enrolled for every one thousand kilowatts you produce you generate 1 TREC and at the end of the year energy companies buy these TRECs from you so they can meet the states RPS requirements. A portion of these sales are then given directly back to you increasing the amount of money you save by going solar. How much you earn through the TREC program is going to vary from person to person depending on factors like system size, equipment, sun exposure, etc. but the average estimate is around $1,000.
The value of TRECs has been locked in at $152 for the next 15 years giving an extra incentive to go solar and offering a quicker way to help pay for the total cost of your system, which means you can enjoy the additional sweet, sweet savings after the system is paid for much faster.
Going solar is a great way to not only help your wallet, but also help the environment and with savings and offers like this who could refuse?