With New Jersey trailing only California in the solar market for 2010, the state's energy staffing has experienced a substantial uptick over the past few years.
In fact, it seems as though the solar industry is poised to grow even more in New Jersey over the coming year, with high return on investment spurring many companies to undertake projects in the state.
"The internal rate of return on investing capital on a solar project in New Jersey was some of the highest in the country, and even the world," Jamie Hahn, managing partner of Solis Partners in Manasquan, New Jersey, told Clean Energy Authority recently.
Hahn explained, however, that energy distribution companies need to ensure that new utility financing programs are agreed upon, so as to not lose this momentum and have the solar industry come to a screeching halt in the state.
One indication that the solar industry is continuing to flourish in New Jersey was the recent decision by the state legislature to approve two bills to reverse the declining value of tradable Solar Renewable Energy Certificates (SRECs).
According to AOL Energy, the legislature's Assembly Telecommunications and Utilities Committee is hoping the approval of the bills will further the state's push towards more solar energy initiatives.
"The measures ... are intended to ensure continued growth of the solar industry by providing stability to SRECs, an innovative instrument which helps track the manufacturing and purchase of solar and has greatly incentivized the marketplace," Assemblyman Upendra Chivukula, chairman of the utilities panel, said in a statement.
Across the state, a number of projects continue to make headway, including the recent announcement by a company that intends to build a new 11.3-megawatt solar energy system in Egg Harbor.
The Press of Atlantic City reports the clean energy produced by the solar energy system will be sold by the company back to the power grid. In addition to the likely boost to energy staffing that will result, the project is expected to spur construction staffing in the state.
John Egnor, the general manager of the company developing the solar energy system, said he expects the project to lead to the creation of 200 construction jobs during the nine to 15 months needed to complete the work, according to the news source.