In the wake of the collapse of Solyndra — the California-based solar panel manufacturer that went bankrupt after receiving $535 million in loan guarantees from the Obama administration — many have questioned the future of solar energy.
But solar energy has been thriving in New Jersey. The state is second only to California in its use of solar power, and in June 2011 alone, a record number of 520 solar projects, totaling over 40 megawatts, were installed in the state. As of September, more than 11,700 solar units had been installed. Now some are concerned the industry’s success could lead to its decline, as the price of solar renewable energy certificates (SRECs) has dropped significantly in recent months, and many are looking to Trenton to support one of the few industries that has grown in the state during the economic downturn.
