NJ Solar Sector Shines

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New Jersey’s solar-energy sector is beginning to stabilize, after the state saw some dramatic changes in energy credits.

At the end of last year, the range of credit that owners of PV systems received was $60. In past weeks, this credit has soared above $100. The recent pricing marks a resurgence in prices, which could be a result of last summer’s legislative efforts to revive the New Jersey solar industry.

At one point, New Jersey was ranked second behind only California for the number of solar electric systems installed in the state. This aggressive push for solar eventually created an unstable market. In the summer of 2011, credits were above $600 which caused a rise in installations and an oversupply of credits that ultimately led to the price crash.

While it’s impossible to know where the future of New Jersey solar will be months from now, this progress gives hope to solar supporters in the state.