First Solar (FSLR): New Jersey Tax Credits To Drive Adoption

Until the US government puts together a sensible energy policy, it will be up to the states to make renewable energy cheaper. Florida is among those taking action with major solar initiatives, but they are not alone. First Solar (FSLR) is benefiting from New Jersey state policies.

AmTech’s solar analyst John Hardy:

enXco, a subsidiary of EDF Energies Nouvelles based in the US, recently announced a 1.8MW PPA [Power Purchase Agreement] agreement in NJ with Hall’s Corporation using FSLR modules. While not a large revenue driver for FSLR, (1.8MW equates to ~$4M using 1Q08 ASPs), we believe this installation illustrates several important trends.

The installation is being driven largely by its qualification for NJ’s Renewable Energy Credit (REC) Program and NJ’s state RPS requirements (22.5% by 2021). It is important that demand for solar continues to be bolstered by state level initiatives in the absence of any long-term federal ITC resolution

See Also:
Latest First Solar (FSLR) News and Analysis

First Solar (FSLR): US Finally Proposes Residential Solar Subsidies
Florida Solar Initiative Helps Out First Solar (FSLR), et al.
First Solar (FSLR) and SunPower (SPWR): US Solar Legislation Stalls Again

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