A program in New Jersey aimed at promoting solar energy investments among homeowners has won an award from the Environmental Protection Agency.
The New Jersey Board of Public Utilities (NJBPU) was one of the entities receiving a Clean Air Excellence Award. The awards were established in 2000 as a way to highlight actions that demonstrate innovation and progress toward achieving cleaner air.
The New Jersey solar program uses Solar Renewable Energy Certificates, which allow property owners to derive revenue to offset the cost of installing a new system. The credits can be traded or sold separate from the power that is generated.
"New Jersey's SREC program is the first in the nation to successfully begin the transition from up-front incentives to a market-based system for project finance. By avoiding upfront incentives, the SREC program lowers the financial impact on ratepayers while continuing to motivate solar electricity installations," said Lee Solomon, president of the NJBPU.
The NJBPU announcement noted that as of April, 157 megawatts of solar arrays were installed across New Jersey, representing at least 5,800 systems.
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A program in New Jersey aimed at promoting solar energy investments among homeowners has won an award from the Environmental Protection Agency. 
