SREC-IIs Allowed in Energy Savings Improvement Cost-Benefit Calculations

LegiScan New Jersey

Published March 23rd, 2026

Detected March 31st, 2026

Summary

New Jersey Senate Bill S4061, introduced March 23, 2026, would permit the value of Solar Renewable Energy Certificates-Class II (SREC-IIs) to be included in cost-benefit calculations under energy savings improvement programs. The bill is sponsored by Sens. Robert Smith and Linda Greenstein and has been referred to the Senate Environment and Energy Committee for consideration.

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What changed

NJ S4061 proposes to amend how energy savings improvement programs calculate cost-benefit analyses by allowing SREC-II values to be included as a benefit. Currently, these programs may not count SREC-II revenue or credits when determining whether an energy efficiency project is financially viable. If enacted, this change could make more solar and renewable energy projects appear economically favorable under state program criteria.

Energy companies, utilities, and government entities participating in New Jersey energy savings improvement programs should monitor this bill as it moves through the Senate Environment and Energy Committee. If passed, entities may need to update their cost-benefit calculation methodologies to incorporate SREC-II values. No compliance deadline or penalties are specified as this is proposed legislation at the draft stage.

What to do next

Monitor S4061 progress through the NJ Senate Environment and Energy Committee
Review current cost-benefit calculation methodologies for energy savings improvement programs
Prepare for potential methodology updates if bill passes

Source document (simplified)

NJ S4061 | 2026-2027 | Regular Session

New Jersey Senate Bill 4061

NJ State Legislature page for S4061
- Summary
- Sponsors
- Texts
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Status

Sponsorship: Partisan Bill (Democrat 2)
Status: Introduced on March 23 2026 - 25% progression
Action: 2026-03-23 - Introduced in the Senate, Referred to Senate Environment and Energy Committee
Pending: Senate Environment and Energy Committee
Text: Latest bill text (Introduced) [HTML]

Summary

Allows value of SREC-IIs to be included in cost-benefit calculations under energy savings improvement programs.
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Title

Allows value of SREC-IIs to be included in cost-benefit calculations under energy savings improvement programs.

History

| Date | Chamber | Action |
| --- | --- | --- |
| 2026-03-23 | Senate | Introduced in the Senate, Referred to Senate Environment and Energy Committee |

Subjects

Environment and Energy

New Jersey State Sources

| Type | Source |
| --- | --- |
| Summary | https://www.njleg.state.nj.us/bill-search/2026/S4061 |
| Text | https://pub.njleg.gov/Bills/2026/S4500/4061_I1.HTM |

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