Market for Solar Credits Drops as Residential Panels Increase
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Susan Phillips
Pennsylvania may be in the midst of a natural gas rush, but neighboring New Jersey has been experiencing a solar surge. Because of state incentives, New Jersey now rivals California in terms of solar power production. But as the Philadelphia Inquirer reports today, the Garden State may be a victim of its own success.
Solar producing residents of both Pennsylvania and New Jersey benefit from a program that allows them to sell solar credits to energy companies seeking to fulfill their alternative energy requirements. But with the rapid increase in residential and commercial solar power installations in New Jersey, the market for those credits has plummeted from $600 to $300 dollars in the last six months.