Buying or Selling a Home with a Solar System
What happens if I sell my house?
Ownership of the solar energy system and the SRECs it generates typically transfers to the new property owner when a home is sold. If you sell your house, you must download the 'Major System Change Form' from the PJM-EIS Generation Attribute Tracking System (GATS) website, fill that out, and submit it to the program administrators at www.pjm-eis.com. The new owner will also be required to submit a new attestation form.
There are several alternative models of solar energy system ownership in New Jersey’s solar market. Ownership of SRECs often remains the same as ownership of the solar energy system. Frequently, the ownership of SRECs is transferred by the owner of the solar energy system to a third party in exchange for a reduction in installed costs. It is also common for property owners to lease their property to a solar energy system owner in exchange for reduced electricity costs under a Power Purchase Agreement. SREC ownership under each of these models must be recorded with the SREC administrator, currently PJM-EIS GATS (Generation Attribute Tracking System).
Can I move my solar energy system to a new property?
Yes. In this case you must download the 'Major System Change Form' from the PJM-EIS GATS home page, fill that out, and submit it to the GATS program administrators.