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.”

General

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  • FAQ-215:
    Paragraph 8B of the PSA states that in the event that Seller’s Project produces SRECs in excess of the Annual SREC Generation Capacity, the Buyer shall have the option, but not the obligation, to purchase up to the total of such excess SRECs at 95% of the Purchase Price. When will this option be exercised?

    This is not specified explicitly in the SREC PSA. However, the SREC PSA does specify that the Contract Year consists of each period of twelve consecutive months following the Commencement Date (Section 5). The EDC will evaluate its option rights based on the Project’s output within a given Contract Year. Hence, when an SREC is created in a Contract Year that exceeds the Annual SREC Generation Capacity (an “Excess SREC”), the EDC will determine whether to exercise the option for all or a portion of the Excess SRECs by the date that payment would be due for any such SRECs purchased, which is 20 Business Days after the end of the Calendar Quarter in which they are created. The EDC will determine when the Annual SREC Generation Capacity has been reached in a Contract Year and, by the 20th Business Day after the end of the Calendar Quarter in which the Excess SRECs are created, will either (i) pay the Seller an amount equal to 95% of the contract price for any Excess SRECs purchased, or (ii) return to the Seller any Excess SRECs not purchased.



    05/26/2011 in General

  • FAQ-214:
    Do the EDCs, through the SREC-Based Financing Program purchase SRECs from customers who have existing solar Projects?

    The SREC-Based Financing Program ("Program") is a program by which an Electric Distribution Company ("EDC"), namely ACE, JCP&L, or RECO, contracts to purchase solar Renewable Energy Certificates ("SRECs") from new solar projects. The EDCs do not purchase SRECs from customers who have existing projects that are operating and producing SRECs. A customer who applies to the Program must in fact commit not to interconnect the Project in advance of the Board decision on whether to make an award to the Project under the Program.



    05/26/2011 in General

  • FAQ-211:
    If a bid is accepted and the SREC PSA is signed, are the prices fixed for the life of the contract?

    Yes.



    05/26/2011 in General

  • FAQ-210:
    I have a NJCEP number from a previous solicitation. Can I use the same NJCEP number in this solicitation?

    There is a single NJCEP number that corresponds to any given Project. If you obtained an NJCEP number for a given Project previously and you want to submit a Proposal for that Project in this current solicitation with bids due June 10, 2011, then you should use the previously issued NJCEP number for that Project. If you obtained an NJCEP number for a given Project previously and you want to submit a Proposal for another Project in this current solicitation with bids due June 10, 2011, then you must obtain a new NJCEP number for that other Project.



    05/26/2011 in General

  • FAQ-208:
    Our system may not produce at full capacity early on due to some obstruction from trees. Would this affect us negatively in competing for an award under the Program?

    The fact that a Project with a given DC nameplate capacity rating may or may not be producing at full capacity for a period of time does not affect the evaluation of the bid submitted for that Project. The evaluation of bids is on the basis of the Net Present Value ("NPV"), which is calculated on the basis of the bid price and the selected duration for the Project (between 10 and 15 years). There is no qualification requirement that the Owner of the Project commit to the Project producing at full capacity at any given point in time.



    05/26/2011 in General

  • FAQ-207:
    I have questions about the JCP&L Interconnection Application. Who should I contact?

    For interconnection questions, please see the information on the Office of Clean Energy page: http://www.njcleanenergy.com/renewable-energy/programs/net-metering-and-interconnection  
     
     


    05/26/2011 in General

  • FAQ-206:
    I understand that when applying to the SREC Registration Program (“SRP”), which is administered by the NJCEP, I should include a cover letter indicating my intention to participate in the SREC-Based Financing Program. To what postal address should I send the cover letter and NJCEP application materials?

    Your cover letter should be provided with your SREC Registration Program ("SRP") materials at:

    New Jersey's Clean Energy Program
    c/o Conservation Services Group
    75 Lincoln Highway, Suite 100
    Iselin, New Jersey 08830
    Phone: 866-NJSMART (866-657-6278, ext. 3)


    05/26/2011 in General

  • FAQ-203:
    My EDC, JCP&L, is requiring a meter that must be purchased through the EDC, is this a separate meter besides the bi-directional that is being installed by the EDC?

    Under the SREC Purchase and Sale Agreement ("SREC PSA"), the owner of the project ("Owner") agrees that the EDC will install, own, and maintain an EDC kilowatt-hour meter (the "SREC Meter"). The SREC meter is the only meter used for registering SRECs under the SREC PSA. The EDC is responsible for monthly meter readings from the SREC Meter. The EDC will also be responsible for uploading the monthly meter readings from the SREC meter to the PJM-EIS GATS system. The installation of the SREC Meter must be in an enclosure adjacent to the existing EDC meter and in accordance with the EDC’s requirements and any applicable regulatory standards. The installation and arrangements for the installation of the SREC Meter will be at the Project’s sole cost and expense.

    For JCP&L, in practice, the customer fills out a request for installation of the meter and submits this form to JCP&L (the form is posted to the Documents page of our Web site and is attached for your convenience). JCP&L invoices the customer for the cost based on the required meter. JCP&L installs the meter once the invoice is paid.



    05/20/2011 in General

  • FAQ-201:
    Can you provide me information regarding the $0.50/Watt incentive for residential and/or public/non-profit projects?

    The $0.50/Watt incentive is offered by the Office of Clean Energy to residential projects (up to 10 kW in size) and to public/non-profit projects (up to 50 kW) to Projects that are successful in the Initial Application Process of the SREC Registration Program (“SRP”) and that receive an award from the Board for their participation in 2011 in the SREC-Based Financing Program for JCP&L, ACE, or RECO.

    We are the Solicitation Manager the SREC-Based Financing Program for JCP&L, ACE, or RECO but we do not administer the $0.50/Watt incentive. For information regarding the $0.50/Watt incentive for Residential Projects, we refer you to the Office of Clean Energy Web site: http://www.njcleanenergy.com/renewable-energy/programs/srec-registration-program/edc-solar-financing-incentive

    To be clear, there are potentially three components to the process:

    (1) The initial application process under the SREC Registration Program (“SRP”).
    (2) Participation in the SREC-Based Financing Program in your EDC territory (JCP&L, ACE, or RECO, but not PSE&G)
    (3) The EDC Solar Financing Incentive (“ESFI”) of $0.50/Watt.

    To obtain the incentive, you would first need to complete the initial application process under the SRP. At that time, you would submit an ESFI notice of intent to participate, which alerts the Office of Clean Energy that you intend to participate in the SREC-Based Financing Program and apply for the incentive. You would then apply to the SREC-Based Financing Program and we provide the steps to this process below. If you receive an award from the New Jersey Board of Public Utilities under the SREC-Based Financing Program, you would then be eligible to receive the incentive. As Solicitation Manager, we administer the second of these three steps – and the Office of Clean Energy is responsible for the first and third steps.

    Through the SREC-Based Financing Program ("Program"), proponents can enter into long-term contracts to sell the solar Renewable Energy Certificates ("SRECs") generated by their Projects to an EDC. The EDCs, or Electric Distribution Companies, are ACE, JCP&L, and RECO. Through this Program, each EDC is contracting only to purchase SRECs from solar projects – the EDC is not purchasing the energy or capacity associated with the Project.

    If the Program interests you and you have not already done so, we encourage you to stay updated about the Program by registering for our mailing list. If you register, we will send updates and reminders about important dates directly to you by email.

    Please note the due dates for the Round  are posted to the Calendar sectionof our Web site. In particular, to complete the SRP application process, you should submit a complete application to the SRP no later than Friday, May 20, 2011 at 4PM EST and submit at that time an ESFI notice of intent to participate. Expressions of Interests in the SREC-Based Financing Program are due on June 6, 2011. Bids and Qualification Materials in the upcoming solicitation are due June 10, 2011.

    A Proposal in the SREC-Based Financing Program is submitted in three steps.

    The first step is to fill out the Expression of Interest (“EOI”). Please see the document called "NJ EDC Solar RFP Appendix 2 - Expression of Interest Form" on the Documents page of our web site. You will need the application number assigned to the Project under the Initial Application Process of SREC Registration Program ("SRP") to complete the form. You can submit the form through email at NJsolar@nera.com. Once you complete the EOI, the Solicitation Manager will send you by email information necessary for the submission of your Pricing Proposal.

    The second step is to submit a Pricing Proposal. The Pricing Proposal form will require that you provide details regarding the Project, including the size and EDC territory in which the Project resides, and your bid price for the SRECs. Your Bid Form will be provided to you by the Solicitation Manager once your EOI is complete; however, you may consult the document called NJ EDC Solar RFP Appendix 3 - Sample Bid Form on Documents page of our web site to understand the information that will be required to provide. The Bid Form is submitted through electronic transfer; instructions for this step are provided to you once you have successfully completed the EOI. In your Pricing Proposal, you will submit a single price for all SRECs and you will choose a term for the contract between 10 and 15 years.

    The third step is to submit Qualification Materials. The required information and documents are described in Article 4 of the document entitled RFP Rules. The forms (including the Proposal Summary Sheet and the Certifications and Checklist for Qualifications) that you will need to submit your Qualification Materials for this solicitation are available on the Documents page of our web site. The Proposal Summary Sheet is submitted by email while the rest of the Qualification Materials are submitted by overnight delivery service.

    An overview of these steps is provided in our Program Guide, which can be found on the Documents page of our web site.



    05/20/2011 in General

  • FAQ-199:
    Where can I find history of most recent bid awards to understand pricing information for bidding purposes?

    Information concerning previous winning bids is provided on the Documents page of our Web site under "Results and Board Approvals". Alternatively, you may consult our Announcements page and read the announcements concerning the BPU approval of the results of each round of bids. These announcements and documents provide information concerning the average winning bid price and the lowest winning bid price in each solicitation.



    05/20/2011 in General


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