Christie Signs Law To Require NJ Utilities To Buy More Solar

Law360, New York (July 23, 2012, 4:31 PM EDT) -- New Jersey Gov. Chris Christie on Monday signed into law legislation requiring utilities to purchase more solar energy — a move designed to stabilize prices and rescue the state's ailing solar energy market.

The state has seen an explosion of solar projects in recent years, producing an excess of solar subsidy credits — or SRECs — which retail suppliers and utilities must purchase under the state's renewable portfolio standard requirements. The glut has sent prices for the credits plummeting.

Upping the number of solar credits utilities...
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