FAQs

Answers to your Frequently Asked Questions ("FAQs") are posted on this page. To ask a question, please use our automated form. FAQs will be posted every Wednesday. FAQs will be posted daily during the week prior to the deadline for submitting Pricing Proposals and Qualification Materials.”

All FAQs

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FAQ-250:
I have a customer who submitted a Proposal in the June 2011. Will the customer have received a notification regarding their Proposal by now?

Proponents in the June 2011 were notified shortly after the Board decision on July 14, 2011 of the results of the solicitation. If your customer has not yet received a notification from the Solicitation Manager, please contact us via email so that we may investigate the matter further.

08/09/2011 in Evaluation of Proposals
FAQ-249:
I am looking into solar electricity for my home in New York. Can I participate in the Program or do I have to live in New Jersey?

The SREC-Based Financing Program ("Program") is only available to New Jersey residents; Projects in New York or other states are not eligible to participate in the Program.

08/09/2011 in General
FAQ-248:
The response to FAQ-221 states that the SREC-Based Financing Program will terminate after the December 2, 2011 solicitation. Does this mean I can’t participate in the SREC-Based Financing Program if my solar power system is up and running after December 2, 2011?

No, the end of the SREC-Based Financing Program (“Program”) during 2011 does NOT mean that you must complete construction of your Project by the end of 2011 to be eligible to participate in the Program.

First, please note that there is only one solicitation (Round 8) confirmed to take place in 2011 under the Program. The schedule for this solicitation (Round 8) is posted to the Calendar page.

Expressions of Interest are due by 12PM on August 29, 2011; qualification materials and pricing proposals are due by 12 PM on September 2, 2011. There will only be an additional solicitation with pricing proposals due on December 2, 2011 if ACE and JCP&L do not receive a sufficient number of competitive proposals in this current solicitation to fill the remaining capacity planned under the Program.

Second, please note that the Program is intended for "new" Projects. A Project is "new" and eligible under the Program if:
- the Project has completed the Initial Application process under the Renewable Energy Incentive Program ("REIP") or the SREC Registration Program ("SRP") administered by the Board of Public Utilities; and
- the Project is not yet interconnected and the Owner commits not to request interconnection prior to the Board Order on the results of the solicitation.
Thus, construction for the Project need NOT be completed in 2011. However, to submit a Proposal under the Program, you must have completed the Initial Application process under the SRP or the REIP administered by New Jersey’s Clean Energy Program. If you do not already have an SRP or REIP number, you must submit a complete SRP Registration Packet to the Office of Clean Energy no later than August 15 at 4PM EST to enable the Office of Clean Energy to issue an NJCEP Application Number in time for this upcoming solicitation. Instructions for submitting a complete SRP Registration Packet to NJCEP are provided in our announcement of August 3, 2011.

08/09/2011 in General
FAQ-247:
Are SRECs in danger of dropping in value due to an oversupply of solar projects?

Information regarding the awards under the Program, including the lowest and average accepted prices, are released after each solicitation and available on the Announcements page. These information releases immediately follow and announce the Board decision on the solicitation results. Although past prices may not be indicative of future prices, these information releases provide all publicly available information regarding prices under the Program.

There may be other publicly available information regarding SREC prices and it is beyond the scope of our role as Solicitation Manager of the Program to provide a comprehensive list of such sources. However, we do note for your convenience that the New Jersey Office of Clean Energy provides various updates on prices and installed capacity on a regular basis. The information is available here.

08/09/2011 in General
FAQ-246:
What is the timeline for the next solicitation of the SREC-Based Financing Program?

The schedule for the current solicitation (Round 8) is posted to the RFP Website.

Expressions of Interest are due by 12PM on August 29, 2011; qualification materials and pricing proposals are due by 12 PM on September 2, 2011. Proponents are notified if they have received an award after the Board meeting to consider the solicitation results, expected to occur on October 26, 2011.

Please note that to qualify to bid, solar projects must provide an NJCEP Application Number, which is obtained by successfully completing the Initial Application process under the SREC Registration Program (“SRP”) or the Renewable Energy Incentive Program (“REIP”), administered by New Jersey’s Clean Energy Program. To enable the Office of Clean Energy to issue an NJCEP Application Number in time for this upcoming solicitation, you must submit a complete SRP Registration Packet to NJCEP no later than August 15 at 4PM EST.

Instructions for submitting a complete SRP Registration Packet to NJCEP are as follows:

-- Include a simple cover letter with your SRP Registration Packet noting the project is intended for participation in the SREC-Based Financing Program solicitation.

-- The cover letter must be the first page of packet. If there is no cover letter, NJCEP will assume the project is not intended for the solicitation.

If you have submitted an SRP Registration packet that that is pending approval, you must submit a cover letter to let NJCEP know you have already submitted a registration for the solicitation (please include customer/system owner information in the cover letter).

Please direct all questions regarding the SRP directly to NJCEP: 1-866-NJSMART. Information and links for the SRP can be found here.

08/09/2011 in General
FAQ-245:
Is the $0.50/Watt rebate still available for the September 2011 solicitation of the SREC-Based Financing Program?

The EDC Solar Financing Incentive ("ESFI") has been discontinued. More information can be found here.

08/08/2011 in General
FAQ-244:
Is there a penalty for withdrawing a Project from the SREC-Based Financing Program once it receives an award and prior to the execution of the SREC Purchase and Sale Agreement?

There is no penalty for withdrawing from the Program prior to receiving an award. As part of the Qualification Materials, the Owner of the Project certifies that it accepts all the terms of the SREC Purchase and Sale Agreement ("SREC PSA") and that the Owner will sign the SREC PSA within five (5) business days of receiving a Final Notice of Award by the EDC. If an Owner receives an award for a Project and the Project is not completed, the Owner is subject to a forfeit of any deposit it has posted. There are no provisions in the SREC Purchase and Sale Agreement ("SREC PSA"), the Stipulation, or in the current RFP documents for additional penalties for breach of the certifications offered in the Qualification Materials.

However, once the Owner has failed to sign the SREC PSA and forfeited the award, the Owner of such of Project may not re-submit the same Project to the Program at a higher price unless: (a) the Owner of the Project provided the cash deposit for the Project in the previous solicitation within the timeframe required; and (b) the period between the submission of Pricing Proposals is no less than six (6) months. The Owner may resubmit the Project at the same or a lower price.

08/08/2011 in Purchase and Sale Agreement
FAQ-243:
How far can a project proceed when it's bidding for the EDC based financing program? Can the construction be complete, and can the state inspection take place? Can the system be turned on if it passes the state inspection?

As you note, the Program requires that the Project not be interconnected and that the Owner of the Project does not request interconnection prior to the Board Order on the results of the solicitation. Existing Projects that are interconnected are not eligible. There are no other requirements regarding the stage of construction of a Project at the time at which a Proposal is presented to the Program.

We are unsure what you mean by “the system be turned on” and whether it would be possible for the Project to be turned on and yet not interconnected.

The eligibility conditions that do apply under the Program are specified in the RFP Rules, available on the Documents page of our Web site. In particular, we note that the Project must have completed the Initial Application process under the SREC Registration Program (“SRP”) or under Renewable Energy Incentive Program (“REIP”) administered by the Board of Public Utilities.

08/04/2011 in General
FAQ-242:
Do I have to submit an ESFI Intent to participate form for this September 2011 solicitation?

The ESFI intent to participate form is not a required part of the Proposal to the SREC-Based Financing Program. Please note that the EDC Solar Financing Incentive (“ESFI”) has been discontinued. More information can be found here.

08/04/2011 in Requirements for Proposals
FAQ-241:
Can the Expression of Interest (EOI) be faxed in?

The Expression of Interest form is to be submitted by email at NJSolar@nera.com. If you experience technical difficulties and you are unable to send your EOI by email, please contact the Solicitation Manager and the Solicitation Manager will provide instructions on an alternate method of submission.

08/04/2011 in Requirements for Proposals

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