“Unless the Legislature acts soon, market forces will bring solar installations to a halt sometime next year. This threatens both the Garden States stance as a national solar leader and the jobs of the more than 6,000 Americans working in solar in New Jersey today.

WASHINGTON, D.C. - Today, the New Jersey Board of Public Utilities kicks off a week of hearings on the state of the New Jersey solar market. The Solar Energy Industries Association (SEIA) is participating in the stakeholder proceeding and spoke on the importance of enacting new solar legislation for the long term. Following is a statement from Sean Gallagher, SEIAs vice president of state affairs:

"The solar market in New Jersey is expected to hit its 2028 renewable portfolio standard this year, more than a decade ahead of schedule. While the states fast adoption of clean energy is cause for celebration, additional action is required to stabilize the solar market.

"Unless the Legislature acts soon, market forces will bring solar installations to a halt sometime next year. This threatens both the Garden States stance as a national solar leader and the jobs of the more than 6,000 Americans working in solar in New Jersey today.

"Passage of the solar transition bill, which is currently pending in the legislature, would help prevent the SREC markets decline and provide, in the short term, the stability the states solar market needs to stay on track.

"Gov.-elect Murphy campaigned on impressive goals for the states renewable industry. To achieve those, the transition bill should be approved as soon as possible upon his taking office. Once the bill is passed, we look forward to working with the public utilities board, the new administration, and other stakeholders on that effort, as well as the energy master plan process, to develop an incentive successor program and long-term solar strategy for the state."

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About SEIA®:

Celebrating its 43rd anniversary in 2017, the Solar Energy Industries Association® is the national trade association of the U.S. solar energy industry, which now employs more than 260,000 Americans. Through advocacy and education, SEIA® is building a strong solar industry to power America. SEIA works with its 1,000 member companies to build jobs and diversity, champion the use of cost-competitive solar in America, remove market barriers and educate the public on the benefits of solar energy. Visit SEIA online at www.seia.org.