Community Corner

Investor to Spend $15M on Established Solar Projects in NJ, MD

Energy services company to hedge investments with solar-credit futures, offsetting recent plunge in price

by Tom Johnson, NJSpotlight.com

Apparently, not everyone is down on New Jersey’s solar sector.

GP Renewables & Trading, a New York-based energy services company, announced yesterday it expects to spend up to $15 million to buy operating, commercial solar projects in Maryland and New Jersey by the end of the year.

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Its entry into the state’s solar market comes at a time when many owners of solar systems are struggling to recoup their investments, a problem caused by the steep drop in prices paid for the electricity their arrays produce. In energy jargon, those payments are known as solar renewable energy certificates (SRECs).

Read more at NJSpotlight.com

Find out what's happening in Teaneckfor free with the latest updates from Patch.

NJ Spotlight is an issue-driven news website that provides critical insight to New Jersey’s communities and businesses. It is non-partisan, independent, policy-centered and community-minded.




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