NJSREC.com New Jersey SREC Market News Letter  08/25/2022

Important, NJ 2023 Energy Year: Energy Year 2023 SRECs began production with SRECs with a generation date of 06/2022. Now 06/2022 and 07/2022 SRECs are 2023 Energy year SRECs. When the 08/2022 SREC are produced in September, they will be 2023 Energy Year (EY) SRECs also.

SREC pricing is guided by the NJ SACP (Solar Alternative Compliance Payment). The NJ SACP is legislated to be reduced $10.00 per year until 2033 when the last of NJ SREC Legacy SRECs will be generated. You probably noticed that the 2023 Energy Year prices are lower than those for the 2022 Energy Year. Around the end of November, when all of 2022 Energy Year SRECs have gone through their compliance phase, prices on the other vintages of SRECs, 2019 EY through 2022 EY will likely move down approximately $10.00 also. This will likely happen every year forward in the New Jersey legacy SREC program. They could go down more depending on market conditions. See New Jersey SACP and prices below.

The legislated price drop is more noticeable this year than in the past because EY 2022 SRECs have been trading at the top range possible. In the past, there was a larger gap between the top price of the SACP of the ending Energy Year and where the SRECs were trading. Historically, when a new energy year began, it appeared the pricing was very similar to the ending energy year. This is not the case now.

Almost 40% of generators have been transferring the 2023 EY SRECs at the 2022 EY SREC prices. All New Jersey Energy Years start in June and end the following May. If we receive the NJ 2023 EY SRECs at previous year prices, we will be forced to send them and possibly all the SRECs you have transferred back to you. This results in extra work for us and for you. Please use the correct prices as posted on www.NJSREC.com

New Jersey 2018 Energy Year (EY) SREC from the 2018 Energy Year will expire after 11/30/2022. AS we approach that date it is likely prices will drop for the 2018 EY.

New Jersey SACP and prices: The price of NJ SRECs is capped by the NJ SACP (Solar Alternative Compliance Payment). This is the price Load Serving Entities (LSEs), electricity suppliers would pay per MWh (1,000kWh) of solar produced electricity if they are not able to buy the rights to SRECs to meet the state Renewable Portfolio Standard (RPS), the total number of SRECs needed in each Energy Year (EY). The SACP for the remainder of the NJ SREC legacy program will likely go down about $10.00 per year per legislation. The price of SRECs could go up or down very slightly or significantly more than $10.00 depending on market conditions.

ACH Direct Deposit Payment Program: We have close to 80% of all NJ SREC generators registered in our ACH Direct Deposit program. There is no fee for ACH Direct Deposit payments. In appreciation of generators using our ACH Direct Deposit service, NJSREC expedites payments delivered by ACH transaction. Most SREC transfers received before 3:00 pm on weekdays will have payments in their accounts the next business day. If you have not yet signed up for ACH deposits but would like to, here is the secure link to enter your banking information: https://ach.njsrec.com/ .

Note: When you submit your information, the secure link will acknowledge the information has been accepted. It is not necessary to ask us if we have received the information after entered. Also, once you have entered the information it is retained and there is no need to re-enter for future transactions. If you have previously set up for NJ SREC ACH Direct Deposit, you will automatically be set up for NJ CLASS 1 REC ACH Direct Deposit.

SREC Transfer Instructions New Form: We have attached updated, easy-to follow, illustrated directions to transfer NJ SRECs to NJSREC.com to this email. Please retain them for future transactions.

NJ SREC Qualification period: The legacy SRECs have either a 15-year or a 10-year qualification period. Depending on the month your system was interconnected to your utility, you may have a few additional months to receive SRECs past the 10 or 15, year period. GATs will note, in red, your completion date, a year in advance on your PJM-EIS.com account. Systems registered on or before October 29, 2018 receive a minimum of 15 years of SRECs. Systems registered after October 29, 2018 receive a minimum of 10 years of SRECs. Both groups transition to Class-I RECs after their NJ SREC qualification period expires. Please see NJ Class 1 REC information below.

TRECs: We are not currently involved in the NJ TREC program which started April 2020 for new NJ Solar Systems. The program is based on a fixed price “TREC” with different prices for different system types. NJ Certification numbers for TRECs have a different format than NJ SRECs. We do not provide TREC information. Contact NJ Clean Energy at 866-657-6278 or www.njcleanenergy.com for TREC information.

SREC II: SREC II is the successor program to the TREC program. NJSREC.com does not currently work in the SREC II program. For SREC II, please contact NJ Clean Energy at 866-657-6278 or www.njcleanenergy.com.

NJ CLASS 1 RECs: NJSREC.com is working in the NJ Class 1 REC marketplace and we urge you, after your SREC qualification period is complete, to continue entering meter readings and take advantage of this market. NJ Class 1 RECs have a considerably lower price than NJ SRECs. Remember, when your SRECs have run their course, your solar system will continue to produce GREEN power and continue to reduce your electric bills in addition to the NJ Class 1 RECs.

  • When your solar system completes its 15-year life (10 years for newer SREC incentivized systems) you will start receiving NJ CLASS 1 RECs as long as you keep entering generation. One NJ CLASS 1 REC for each 1,000 kWh of generation will be minted on GATs. Class 1 certification numbers look like this:


  • NJ Class 1 RECs differ from NJ SRECs in that the current EY RECs and the two previous Energy Years are eligible for compliance. Example: The 2023 Energy Year accepts 2023 EY RECs, 2022 EY RECs and 2021 EY RECs. Prices may differ for older vintages. Please consult our NO FEE prices.
  • NJ CLASS 1 RECs are not SRECs. SREC stands for SOLAR REC.
  • At the NJSREC.com website, you will see near the top right corner of our landing page, an area marked “NJ CLASS 1 RECs”. You can click there and it will take you to the NJ CLASS 1 REC page.
  • Please review the rules and procedures to transfer NJ CLASS 1 RECs to us and be paid for them. Some important differences are:
  • We have a 3 REC minimum per transaction for NJ Class 1 RECs.  Please transfer when you have accumulated at least 3 NJ Class 1 RECs to allow us to help you monetize these at a reasonable cost.
  • Payments are only available by ACH direct deposit for NJ Class 1 REC transfers. Please use the following secure link to set up an account if one has not already been established: https://ach.njsrec.com
  • Residential system owners should consider making no more than one or two transfers per year to achieve better pricing.
  • Remember, we will pay you the price we have posted on our website at the time of your transfer and will deduct NO FEES or COMMISSIONS on spot market transfers.

MULTI ENERGY YEAR SREC PRICING: NJSREC.com allows you to receive the highest price based on the total quantity of SRECs you are transferring even if they are from two or more Energy Years.  So for example, if you are transferring 7 SRECs from the 2021 EY and 4 SRECs from the 2022 Energy year, you are transferring 11 total SRECs and therefore can use the 11-24 price bracket for both Energy Years. Use this method to get our BEST PRICE for your SRECs.

TRANSFER DIRECTIONS: You can also find transfer instructions at the www.NJSREC.com website at the “ HOW TO TRANSFER ” tab towards the top center of the website landing page for SRECs and on the NJ CLASS 1 REC page. You may also Click the following link as a shortcut: http://njsrec.com/node/2  We are happy to help first time users learn the transfer process; however, we request you use these easy instructions to transfer SRECs to us for future transactions.

LOGIN: You DO NOT log in to NJSREC.com currently to transfer your SRECs to us. Transfers are done at the PJM-EIS GATs system. Please use the following link to access GATs and transfer your SRECs to us: www.PJM-EIS.com

CONTACTING US: When contacting us please use the convenient, “ CONTACT US ” tab at the top right of our website landing page or email us at: Support@NJSREC.com  We do not accept texts and prefer emails to calls as many questions require us to access information or to compute pricing.

Our goal remains to update current New Jersey SREC and REC market information so you may make an informed decision in selling your certificates. We provide a platform to monetize your NJ SRECs and NJ Class 1 RECs.

GATs is currently minting SRECs 5 to 7 business days after generation is entered. You will not be able to transfer SRECs to us as soon as you enter generation. You must wait the 5 to 7 business days. When the SRECs are listed in CEPs in your Account Summary module on GATs, you have SRECs to sell. You can’t sell “unprocessed generation”. ALWAYs use “MONTH OF GENERATION”, NOT “MONTH OF CREATION” to determine the vintage of your SRECs.

The following chart indicates which “month of generation” belongs to each energy year (EY). Energy Years (EY) in New Jersey always run June through May.

Energy Year

Months of Generation Each Energy Year

Quantity per Year

  NJ 2018 Energy Year (EY) SREC(s)

  SREC(s) generated 06/2017 to 05/2018

EXPIRING 11/30/2022

  NJ 2019 Energy Year (EY) SREC(s)

  SREC(s) generated 06/2018 to 05/2019

  NJ 2020 Energy Year (EY) SREC(s)

  SREC(s) generated 06/2019 to 05/2020

  NJ 2021 Energy Year (EY) SREC(s)

  SREC(s) generated 06/2020 to 05/2021

  NJ 2022 Energy Year (EY) SREC(s)

  SREC(s) generated 06/2021 to 05/2022

  NJ 2023 Energy Year (EY) SREC(s)

  SREC(s) generated 06/2022 to 05/2023

Total SRECs

Current Eligible SREC Energy Years (EY) also known as reporting years

  • There are currently 6 eligible New Jersey Energy Years
  • 2023 EY is the current Energy Year (EY).

Energy Year:

NJ 2023 EY

NJ 2022 EY

NJ 2021 EY

NJ 2020 EY

NJ 2019 EY

NJ 2018 EY

SREC Generation Dates:

06-2022 to


06-2021 to


06-2020 to


06-2019 to


06-2018 to


06-2017 to


  • Note: To view full eligibility for each Energy Year (EY), go to www.NJSREC.com and click on each EY grid.
  • Important: You must use "Month of Generation" to determine the vintage of your SRECs.
  • NJ 2018 EY SRECs are expiring 11/30/2022

NJ SREC Market price movement last 9 months 2022 11/09/2021 to 08/25/2022

  • The price of New Jersey 2023 EY SRECs is $0.00 higher/lower.
  • The price of New Jersey 2022 EY SRECs is $0.00 higher/lower.
  • The price of New Jersey 2021 EY SRECs is $0.00 higher/lower.
  • The price of New Jersey 2020 EY SRECs is $0.00 higher/lower.
  • The price of New Jersey 2019 EY SRECs is $0.00 higher/lower.
  • The price of New Jersey 2018 EY SRECs is $0.00 higher/lower.
  • Prices are based on the 2-3 Energy Year Bracket.
  • We will no longer be reporting New Jersey Clean Energy reports as there are few adjustments to the NJ SREC legacy program now. The NJ SREC legacy program is closed to new projects.
  • During the past few months, trading has been strong for the NJ 2023 EY, strong for the NJ 2022 EY, moderate for NJ 2021 EY and NJ 2020 EY, and very light for the NJ 2019 EY and NJ 2018 EY Energy Year.