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Sep 27 2019
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Solar Power International 2019

4 Cool New Technologies from Solar Power International (SPI) 2019

By Best Solar Panels for Homes in 2026, Solar Inverters: Types, Pros and Cons No Comments

Our team just returned from a very exciting trip to the Solar Power International 2019 Convention in Salt Lake City, Utah. We toured the floor and got a glimpse of many cool solar technologies, networked, and listened in on some great speakers. Speaking of cool solar technology, here are four new solar technologies we discovered at the event that are worth mentioning.

For a recap of last year’s hottest and latest solar technology, read here.

Every year, over 19,000 visitors, 700+ exhibitors, and 500+ speakers collectively gather together at the largest energy event in North America. Powered by Solar Energy Industries Association (SEIA) and Smart Electric Power Alliance (SEPA), SPI aims to center the conversation around solar trends in the market and industry, and new solar technology. Here are four technologies (in no particular order) the team at Solar.com is excited to share with you.

REC Solar Alpha Series

1. REC Solar: Alpha Series

REC Solar joins the high-wattage high-efficiency space with its new Alpha Series. It currently holds the title for the highest-powered 60-cell solar panel. With capabilities of reaching 380 W, these panels can produce up to 20% more energy. Although we’re unsure of its exact price point, we can tell you that we received some inside scoop that it will continue to deliver low-priced panels especially given its expected 25 year warranty and high-efficiency panels.

Span.IO Smarter Electrical Panel

2. Span.IO: Smarter Electrical Panel

Arch Rao, Former Head of Product at Tesla, launches Span.IO’s residential smart electrical panel. It feels as though we are entering the digital space as we learn about products like this new electrical panel. The panel essentially would replace your home’s electrical panel and has the capability of backing up all the circuits in your home, controls what you want to switch on and off, and much more – and yes, you can monitor it via a smartphone app. With its automation system, Span can learn more about your home habits and identify patterns of your electricity usage so you know where you can save.

SolarEdge EV Charger and Inverter

3. SolarEdge: World’s First EV Charging Solar Inverter

The SolarEdge 2-in-1 EV charger AND solar inverter is a new technology that is capable of charging electric vehicles six times faster than a standard Level 1 charger. How? It uses the solar boost mode which utilizes both the grid and solar power. How’s that for efficiency? With a 2-in-1 product like this, rest assured that your installation costs and CO2 footprint will be reduced. 

LG Neon R ACE Solar Panel with Integrated Microinverters

4. LG: NeON R ACe Solar Panel with Integrated Microinverters

The last product we want to mention is LG’s new AC solar module with integrated microinverters, the LG NeON R ACe solar panel. That’s right, the new LG ACe panel has a built-in microinverter that is sleek and small enough to fit on the back of your panel. As we all know, LG manufacturers many home appliances – so it was just a matter of time for it to begin manufacturing its own fully integrated microinverter.

That’s all the update we have from this year’s Solar Power International! We can’t wait to discover more innovative solar technology at next year’s event in Anaheim, California!

Cover image source: North America Smart Energy Week 2019

Sep 17 2019
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Solar Renewable Energy Certificates in New Jersey

Solar Renewable Energy Certificates (SRECs) in New Jersey

By Solar Incentives by State, Solar Rebates & Incentives No Comments

Updated: As of August 2021, Solar Renewable Energy Certificates (SRECs) are distributed through New Jersey’s Successor Solar Incentive (SuSI) Program and are known as SREC-II’s. Read our explainer on New Jersey solar incentives to learn more.

Believe it or not, solar renewable energy certificates are among some of the best solar incentives in New Jersey. At 15.78¢/kWh, electricity rates are 32.83% higher than the national average which makes the Garden State one of the top viable states in the nation for homeowners to go solar. Continue below to learn about the nation’s most competitive SREC market.

Renewable Portfolio Standard in New Jersey

According to the Solar Energy Industries Association, a renewable energy standard or renewable portfolio standard (RPS) requires utility companies to source a certain amount of energy they generate or sell from renewable sources such as wind and solar. Currently, there are 38 states that have renewable portfolio standards in place and some ambitious target goals to reach by a target date. The state of New Jersey is known for the third-most ambitious renewable portfolio standard just trailing behind California and New York. The state must generate 5.1% of its energy from solar energy by 2021. In as little as 9 years, the state must generate 50% of its energy from renewable sources by 2030.

What are SRECs?

Solar Renewable Energy Certificates or SRECs are solar incentives available in a small number of states with a Renewable Portfolio Standard. As mentioned above, states with an RPS must source a certain amount of energy from renewables. If this is not reached, utility companies will purchase SRECs from homeowners for every megawatt-hour (MWh) of electricity that is generated. In New Jersey, homeowners are able to access 6 SRECs a year for 10 years at an average rate of $200 per SREC. Let’s take a look at how much homeowners can potentially earn with SRECs:

  • $200 x 6 SRECs = $1,200/year
  • $1,200 x 10 years = $12,000 in 10 years!

How do New Jersey SRECs work?

Homeowners earn a single SREC for every MWh of electricity generated. Depending on the time of registration, homeowners can begin receiving SRECs for every MWh of electricity generated for the first 10 or 15 years of installation. Homeowners must register with the Generation Attribute Tracking System (GATS) to begin selling their SRECs in a competitive market just like one would trade stocks on the stock market. As we mentioned above, utility companies are the buyers of SRECs. When utility companies do not meet the state’s RPS, they must pay a Solar Alternative Compliance Payment (SACP), a penalty price that they must pay per SREC. 

If you’re a homeowner in New Jersey, you’re in luck. While electricity rates average around 15.78¢/kWh, 32.83% higher than the national average, there are competitive incentives available for homeowners to consider solar to lower their electric bills. As we have mentioned in this video, with the state’s RPS goals, New Jersey is practically rewarding homeowners when they make the switch as they reach closer to their goals. Ready to see how much solar panels cost in your area? Visit the Solar.com online marketplace to receive competitive solar quotes today and learn how you can lower your electric bills and the available incentives in your state!