Account Info
When your solar system generates more energy than you use in a month, the electric utility will “bank” the excess generation in the form of a solar credit. The electric utility will carry over your solar credits every month until they are all used. If you have solar credits on your anniversary date, the electric utility will pay you a price specified by them. At that point, your energy credits reset to zero.
Your anniversary date is the date your system received approval to operate from the electric utility. If you have solar credits banked, this is when the utility company will pay you for the excess generation. Because of the seasonality of solar production, with the higher production months being in the spring and summer, the best anniversary month is March. Your solar system will generate more energy during April through October and less between November and March.
If you have excess generation during the summer months, you want to be able to carry those credits into the fall and winter months to help offset your bills when your solar system is producing less energy. Your utility company will allow a one-time change to your anniversary date.
In general, we suggest you set your anniversary date to the end of March. If you have electric heat or non-typical usage, your electric utility may recommend a different month.
The lease is transferable. In your lease agreement, there is a document titled “Assignment and Assumption of Solar Equipment Lease.”
This document is signed at closing by both the seller and buyer. Once signed by both parties, the original document should be sent to us at:
NJR Clean Energy Ventures
P.O. Box 1468
Wall, NJ 07719
Please note you will continue to be responsible for the solar lease agreement until this document is received in our office.
If you need a copy of your solar lease agreement, please call us at 855-478-6548 or email us.