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-301:
We received an award in the most recent solicitation, and we provided the wrong Owner name in our qualification materials. Can we change the name of the Owner in the SREC Purchase and Sale Agreement?

Unfortunately, the name of the Owner and signatory to the SREC Purchase and Sale Agreement (“SREC PSA”) cannot be changed and must correspond to the information regarding the Owner provided in the qualification materials for the Project. (We are assuming that the error that you mention is a change from say, Company X to Company Y, and not a typographical error such as changing "Geoge" to "George".) The qualifications of the Project were assessed given the information provided, which includes the identity of the Owner of the Project, and the Project received an award from the Board on the basis of this information. The Owner named in the Proposal is the only individual or entity that can execute the SREC PSA.

Once the SREC PSA is signed, the Owner of the Project may assign the SREC PSA under the terms of the contract. Please see Section I of the Terms and Conditions of the SREC PSA, which provides the terms under which the SREC PSA may be assigned or transferred. Such assignment or transfer generally requires the prior written consent of the EDC (although an assignment for financing purposes may proceed without prior consent form the EDC). Such consent will not be unreasonably withheld.

11/17/2011 in Purchase and Sale Agreement
FAQ-300:
Can I install two EDC meters for one Project if there are two interconnection points on the load side of the same utility meter?

Under the SREC-Based Financing Program ("Program"), a given Project is tied to a given EDC meter (with a given customer account) and to a given NJCEP Initial Application number (either under the Renewable Energy Incentive Program ("REIP") or under the SREC Registration Program ("SRP")). Although we cannot be certain of all relevant facts from your question, if you received an award for a single Project with a single NJCEP Initial Application Number and for which you submitted a single customer account number, then a single SREC Meter should be installed for the Project. Please consult the RFP Rules available on the Documents page of our Web site for the complete requirements under the Program, including the requirement that Projects be "behind the meter".

11/17/2011 in General
FAQ-299:
Is there a way to request exemption from Section 4.1.4 of the RFP Rules which states that a Project will not request interconnection prior to the Board Order on the results of a solicitation?

As you are aware, the SREC-Based Financing Program (“Program”) is intended to support new Projects. The Program Rules specify that a Proponent that submits a Proposal for a Project must certify that the Project is not interconnected and must not request interconnection prior to the Board Order on the results for the solicitation for which the Project receives an award. We understand that there may be imperative business reasons for interconnection to occur at a different time but there is no mechanism under the Program Rules to request an exception to this certification or for a Proponent to rescind the commitment it has made in its Proposal materials not to request interconnection prior to the Board Order on the solicitation results. We unfortunately cannot provide advice on this issue.

11/17/2011 in General
FAQ-298:
When will we receive the results for our bid in the September 2011 solicitation?

At its agenda meeting of November 9, 2011 (instead of October 24 as previously scheduled), the Board rendered its decision regarding the results of the last solicitation (Round 8 with bids due on September 2). All participants should now have received a notification regarding their Projects. Please contact us (973 297 0880) if you have not received notification regarding your Project at this point.

11/17/2011 in Purchase and Sale Agreement
FAQ-297:
I know that the PSE&G Solar Loan program releases information about the capacity of projects that have been commissioned. Does the SREC-Based Financing Program release similar information regarding what portion of awarded projects have been successfully completed in past rounds?

The requirements for public release of information for the SREC-Based Financing Program are different from the requirements of the PSE&G Solar Loan program. The requirements for public release of information for the SREC-Based Financing Program are as follows.

Once the Board renders a decision on the results, the Solicitation Manager prepares the following information for public release:

    * total number and total MW of Projects that submitted Proposals;

    * total number and total MW of Projects that received awards;

    * total number and total MW of Projects that were rejected; and

    * the low and average prices of the accepted Projects.

These information releases are available on the Announcement page (for example, see the announcement of July 17, 2011 for the results of the seventh solicitation). Further, the Board Orders approving amounts that were accepted in past solicitations are posted on the Documents page of the Web site under the heading "Results and Board Approvals".

The requirements for release of public information do not include a list of successful projects, or a breakdown of the capacity according to whether the Project has been completed. The Solicitation Manager does not have this information and does not maintain or publish this type of data. We can nevertheless provide the following guidance.

Generally speaking, any quantity that was planned to be procured in a given RPS Reporting Year for an EDC but that was left unfilled was added to the procurement goal of the subsequent RPS Reporting Year for that EDC. At the same time, any quantity associated with awards that failed to proceed to contract in a given RPS Reporting Year was also added to the procurement goal of the next RPS Reporting Year for an EDC. The planned quantities for a given RPS Reporting Year are provided in the RFP Rules (generally table 1), which are available on the Archive page of our Web site (under "Document Archives").   Information regarding the awards under the Program is released after each solicitation and available on the Announcements page; these information releases immediately follow and announce the Board decision on the solicitation results.

You may make various calculations on the basis of these data. For example, the difference between the procurement goal over the entire program and the awards for an EDC as of the end of a given RPS Reporting Year will represent the quantity left to be procured for the remaining RPS Reporting Years for that EDC. To the extent that the actual planned quantity for the remaining RPS Reporting Years in the RFP Rules is higher, the difference represents the quantity associated with awards that did not proceed to contract. In the last RPS Reporting Year of the Program, namely the 2012 RPS Reporting Year, the planned quantities for Round 8 were updated on August 17, 2011 to include quantities left to be procured and all quantities that did not proceed to contract as of that point.

11/17/2011 in General
FAQ-296:
If my Project received an award in Round 7 (June 2011 Solicitation) under the SREC-Based Financing Program, is the Project still eligible for the EDC Solar Financing Incentive (ESFI)?

Our understanding is that the EDC Solar Financing Incentive ("ESFI") is available for eligible projects that received an award under the SREC-Based Financing Program from a solicitation between 1/1/2011 and 6/10/2011. As such, a Project that received an award in Round 7, with bids due 6/10/2011, would be eligible assuming that the Project fulfills all other necessary conditions.

We do not administer the ESFI and this is based on our understanding only. You should seek information from the office of clean energy. The link is:

http://www.njcleanenergy.com/renewable-energy/programs/srec-registration-program/edc-solar-financing-incentive

and the contact information can be found here:

http://www.njcleanenergy.com/misc/about-njcep/contact-us

09/19/2011 in General
FAQ-295:
Are there any updates to FAQ-116 regarding the issuance of 1099 forms?

"Are payments for SRECs considered taxable income? Do the EDCs issue a 1099 for the value of SRECs?

Please consult your tax advisor regarding any taxes that may apply to payments for SRECs sold as well as any tax credits or allowable expenses that may be available. We would assume that the revenue from selling SRECs must be reported to taxing authorities.

The EDCs have not determined whether they will issue a 1099. The EDCs will, as part of normal business practices, make all required reports to tax authorities and obtain any taxpayer information required for that purpose."

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We reiterate that each participant under the Program should consult a tax advisor regarding any taxes that may apply to payments for SRECs sold as well as any tax credits or allowable expenses that may be available. JCP&L and RECO do not have an update to this response. ACE would like to note that it typically issues 1099s for amounts in excess of $600. If a 1099 is issued it is sent to the address on file and registered with the IRS under the ID number presented on the W-9.

09/19/2011 in General
FAQ-294:
Will you extend the deadlines in the September 2011 solicitation due to Hurricane Irene?
Extensive power outages and businesses being closed all week from Hurricane Irene are making it difficult to locate necessary individuals to complete submittals.

Thank you for your concern. While we have immediately extended the deadline for Expressions of Interest in view of the state of emergency earlier in the week and while we continue to monitor the situation closely, at this time, it appears that an extension of the deadlines for submission of pricing proposals and qualification materials will not be necessary.

09/19/2011 in General
FAQ-293:
Due to flooding I have not received my NJCEP number from the NJ clean energy office. Is there any possibility of extending the cure deficiency deadline due to these circumstances?

The information that we obtained from the NJ clean energy office is that all requests under the SRP that were received before the deadline were processed. If you believe we were provided this information in error, please contact us.

09/19/2011 in General
FAQ-292:
Please advise as to whether the deadline to submit an expression of interest for September 2011 solicitation has been extended due to Hurricane Irene.

The deadline for the submission of an expression of interest was extended from August 29 at noon to August 30 at 5PM. The deadline for Pricing Proposals and qualification materials remains noon on September 2, 2011.

09/19/2011 in General

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