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TRENTON – Legislation sponsored by Senator Bob Smith and Senate President Steve Sweeney to stabilize New Jersey’s solar market, encourage development of solar installations in the state, and provide a boost in solar-related jobs was signed into law today.

“While New Jersey has made many great achievements in solar production and installation over the years, recently there has been a free-fall in solar energy certificate prices that could have had the real potential to cause devastating effects to the industry,” said Senator Smith, D-Middlesex and Somerset. “With the signing of this law, we will bring stability to the market, increase our use of a clean, domestically-produced energy source and ensure the continuation of manufacturing and installation jobs for many New Jersey residents, while keeping the costs down for electric ratepayers.”

“This law is vital to the continued success of the state’s solar market and in ensuring that the good-paying construction and installation jobs created by the solar industry stay in New Jersey,” said Senate President Sweeney, D-Gloucester, Cumberland and Salem. “There is great economic potential in growing this industry here in the Garden State and this law will help to attract more investment in the industry and ultimately provide more jobs for New Jersey’s workers. That is what this measure is really about – supporting quality, good-paying jobs for New Jersey’s workers.”

TRENTON – Legislation sponsored by Senator Bob Smith and Senate President Steve Sweeney that would stave off future economic crashes in New Jersey’s solar market, encourage development of solar installations in the state, and provide a boost in solar-related jobs was approved today by the full Senate.

“Solar power has become so popular in New Jersey that the supply of solar energy has grown faster than the demand from energy companies – who are required to purchase a minimum amount of their energy from solar supplies each year,” said Senator Smith, D-Middlesex, Somerset. “Rather than allowing this market’s growth to stagnate and the production of clean and domestically-produced solar energy to slow, we need to continue to supply incentives for New Jerseyans to purchase and install solar equipment, while keeping costs down for electric ratepayers. This bill is a great step in avoiding another bust of New Jersey’s solar market.”

“As the solar industry has boomed over the past few years in New Jersey, it has become an economic engine for good, well-paying construction and installation jobs throughout the state. But with the dramatic fall of solar energy incentive prices, there is a serious concern that development and installation of solar systems will dry up and these jobs will be lost,” said Senate President Sweeney, D-Gloucester, Cumberland, Salem. “This legislation will stabilize the market and encourage businesses and individuals to continue to purchase and install solar equipment on their property.”

TRENTON – Legislation sponsored by Senator Bob Smith and Senate President Steve Sweeney that would stave off future economic crashes in New Jersey’s solar market, encourage development of solar installations in the state, and provide a boost in solar-related jobs was approved today by the Senate Environment and Energy Committee.

“Solar power has become so popular in New Jersey that the supply of solar energy has grown faster than the demand from energy companies – who are required to purchase a minimum amount of their energy from solar supplies each year,” said Senator Smith, D-Middlesex, Chairman of the Environment and Energy Committee. “Rather than allowing this market’s growth to stagnate and the production of clean and domestically-produced solar energy to slow, we need to continue to supply incentives for New Jerseyans to purchase and install solar equipment, while keeping costs down for electric ratepayers. This bill is a great step in avoiding another bust of New Jersey’s solar market.”

“As the solar industry has boomed over the past few years in New Jersey, it has become an economic engine for good, well-paying construction and installation jobs throughout the state. But with the dramatic fall of solar energy incentive prices, there is a serious concern that development and installation of solar systems will dry up and these jobs will be lost,” said Senate President Sweeney, D-Gloucester, Cumberland, Salem. “This legislation will stabilize the market and encourage businesses and individuals to continue to purchase and install solar equipment on their property.”