New Jersey Utility Guide — JCP&L, PSE&G, Atlantic City Electric

1-to-1 Net Metering with Annual True-Up and TREC Incentive

Net Metering Policy

New Jersey requires all major utilities to provide 1-to-1 net metering regardless of whether you use the utility's supply service or a third-party supplier.

Each kWh your solar system produces first powers your home; any excess exported to the grid earns a kWh credit that can be used in future months.

Anniversary Month and Annual True-Up

Net metering credits roll forward in a "NEM bank" indefinitely throughout the year — but once a year on your Anniversary Month, the bank is reset.

What Happens at True-Up

Any credits remaining at that point are paid out at a low wholesale rate (typically 3–5 cents per kWh), not the full retail rate.

Setting Your Anniversary Month

• Defaults to approximately 1–2 months after your system's Permission to Operate date
• You may change it one time by contacting your utility
• Recommendation: Watch your bills for at least one full 12-month cycle before requesting a change
• The utility only allows one change — make sure you've seen how your credits actually accumulate before deciding

Time of Use Rates — Not Recommended

New Jersey's net metering program is not well-suited to Time of Use (TOU) rate plans.

Under TOU:

• Each time period (on-peak, off-peak) has a separate NEM bank
• Credits earned in one period cannot offset charges in another

This typically results in large on-peak credit balances while paying full price for off-peak consumption.

💡 Recommendation: Stay on a standard rate plan.

TREC Program

New Jersey's Transition Renewable Energy Certificate (TREC) program pays customer-owned solar systems a fixed per-kWh incentive for electricity produced.

• TRECs are registered through the NJ Clean Energy Program
• Venture Home handles TREC enrollment for all eligible customer-owned systems
• If you haven't received enrollment information, contact our team

Quick Summary

Questions? Contact Customer Success at 800-203-4158.