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.”

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  • FAQ-261:
    For projects that received an award but are not built, will the system capacities of such projects be added to a future solicitation under the Program?

    Any quantities for awarded but not built systems are added to another solicitation under the Program to the extent practicable.

    08/16/2011 in General

  • FAQ-260:
    What happens when a project receives an award but is not allowed to interconnect by the EDC? Should these projects be re-submitted in the next round of the SREC-Based Financing Program?

    It is possible that Projects receive an award but cannot proceed as a result of circuit constraints. If a Project cannot proceed, the Owner of the Project may contact the EDC after the award to determine whether the circuit constraint is expected to persist. If the circuit constraint is expected to persist, the Project may not proceed as the EDC will not be able to allow the Project to interconnect. The Owner of the Project should not resubmit such a Project for the same location to the SREC-Based Financing Program. Such a submission cannot change any circuit constraints that exist and that prevent a Project from going forward.

    It is also possible that Projects receive an award but must be downsized as a result of circuit constraints experienced by the EDC. In such a case, the Solicitation Manager would expect to recommend to the Board that the Owner of the Project would be afforded the choice between:

    1) Downsizing the Project or Projects in question to satisfy the circuit constraints and executing the SREC PSAs at the price or prices that were submitted in the Pricing Proposals; or
    2) Re-sizing the Project or Projects to satisfy the circuit constraint and resubmitting the Project or Projects in a future solicitation of the SREC-Based Financing Program (noting that the Program is expected to end this year) at prices that may be higher or lower than the prices originally submitted.

    08/16/2011 in General

  • FAQ-259:
    Information on how much of the approved capacities were applied to each utility was available for the first four solicitations but hasn't been included in the last two. Can you provide a breakdown of the total approved in those solicitations by utility?

    With the Board’s approval, the Solicitation Manager has released additional information regarding previous solicitations, which can be found on our Announcements page. For the convenience of bidders, this information is summarized in a document entitled "Results by Segment", which is posted on the Documents page and linked here.

    08/09/2011 in General

  • FAQ-258:
    The July 14, 2011 Board Order says there were 191 applications submitted totaling 40.4 MW for the sixth solicitation. Of these, 106 were approved for a capacity of 16.6 MW while 85 rejected for a capacity of 22.4 MW. The total of all projects accepted and rejected is 39 MW while the number of applications totals 40.4 MW. Why do these figures not agree?

    This is because of the circuit constraints for ACE. When we report the capacity of the applications received, we report the sum of the project sizes for all applications. However, ACE determined that some of the circuits for the proposed projects were closed or constrained. The approved project quantities reflect the constrained sizes for the projects approved.

    08/09/2011 in General

  • FAQ-256:
    Can we submit the JCP&L Part 1 Interconnection application in parallel with applying for the SREC-Based Financing Program so long as we do not apply for Part 2 until we receive an award notification?

    There are two steps to interconnection. The first step is the filing of an initial application that provides to the EDC the details of the system to be installed. A Proponent can complete the first step at any time without affecting the eligibility of the Project under the SREC-Based Financing Program (“Program”).   The second step occurs after the system is installed. At that point, an application for authorization to operate and permission to interconnect is filed. A Proponent may initiate this second step only after the Board Order on the results of the solicitation. 
    Interconnection documents for each EDC are provided on the Documents page.
    The Board Order is issued typically within a few days of the Board renders a decision on the results of the RFP. The Board is expected to render its decision on October 24, 2011 for the current solicitation (this is a change from the date of October 26, 2011 posted previously).

    08/09/2011 in Requirements for Proposals

  • FAQ-255:
    Could you please confirm that an interconnection application cannot be filed prior to the New Jersey Board of Public Utilities’ announcement of results, expected on October 26, 2011?

    We confirm that to be eligible under the Program, the Owner must not request interconnection prior to the Board Order on the results of the solicitation. Currently the Board meeting to consider the results of this solicitation is expected on October 24 (this is a change from October 26) so that the Board Order on the results of the solicitation would be expected within a few days after that date. 
    The date of the Board meeting is subject to further change and is generally posted here.

    08/09/2011 in General

  • FAQ-254:
    It appears that only ten-year contracts were awarded in the June 2011 solicitation. Have fifteen-year contracts been discontinued?

    No. If you submit a Pricing Proposal under the SREC-Based Financing Program ("Program"), you will be required to provide (i) a price per SREC; (ii) a number of years for the contract; (iii) the size of the Project; and (iv) the EDC territory in which the Project resides. The number of years for the contract (or "Duration") can be between 10 and 15 years. Please note that the Program does not require that you select 10 OR 15 years; rather, you may select 10, 11, 12, 13, 14, or 15 years. Please see section 3.1 of the RFP Rules available on the Documents page of our Web site.
    The pricing results are quoted in terms of NPV and are converted for purposes of the information release into an average price for an illustrative ten-year contract. This does not mean that all Projects that received an award are for a duration of ten years. 
    The pricing results are quoted in terms of NPV because Projects are ranked according to NPV. The price is then converted to a given duration of 10 years because a given NPV can correspond to different $/SREC prices for different durations and different EDCs. For example, suppose that the NPV for a JCP&L Project is $2,649.75. The SREC prices for the different durations allowed under the Program are provided below:
    NPV Duration Cumulative Factor Price/SREC
    $2,649.75 10 years 7.0660 $375/SREC
    $2,649.75 11 years 7.5475 $351.08/SREC
    $2,649.75 12 years 7.9980 $331.30/SREC
    $2,649.75 13 years 8.4196 $314.71/SREC
    $2,649.75 14 years 8.8141 $300.63/SREC
    $2,649.75 15 years 9.1832 $288.54/SREC
    The price per SREC is obtained by dividing the NPV by the Cumulative Factor (equivalently, the NPV is obtained by multiplying the price/SREC by the Cumulative Factor). The Cumulative Factors for each EDC are provided in Section 5.1 of the RFP Rules. 
    As you can see from this table, a given NPV can translate into different prices/SREC for different durations for a given EDC and thus when releasing pricing on a $/SREC basis a standardized 10-year duration is chosen to provide an apples to apples comparison. The cumulative factor used for purposes of the information release is 7.0713, which is a weighted average of the Cumulative Factors for the three EDCs

    08/09/2011 in General

  • FAQ-253:
    I submitted an Initial Application to the SREC Registration Program (“SRP”) administered by the Office of Clean Energy for the previous solicitation and received my NJCEP Initial Application number. However, I did not submit a Proposal to the SREC-Based Financing Program in the previous solicitation. Can I use the NJCEP Initial Application number from last time (the project metrics have not changed) or do I have to restart the Initial Application process to the SRP for the upcoming solicitation?

    You will use the SRP number that was previously issued to you. You do not restart the NJCEP Initial Application process.

    08/09/2011 in Requirements for Proposals

  • FAQ-252:
    How many megawatts have been a.) contracted, and b.) built, through the SREC-Based Financing Program so far?

    The Solicitation Manager does not have information about the MWs that have been built thus far through the Program and does not publish statistics on the amount that was contracted. 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 then 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 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. 
    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.

    08/09/2011 in General

  • FAQ-251:
    What is the overall megawatt procurement goal for the SREC-Based Financing Program?


    The procurement goals for each of the years of the SREC-Based Financing Program ("Program") as well as the totals for the Program are provided in the table below:
      Quantity (MW)  
    RPS Reporting Year    JCP&L ACE RECO Total
    June 1, 2009 – May 31, 2010 23 10 2.267 35.267
    June 1, 2010 – May 31, 2011 10 5 0.803 15.803
    June 1, 2011 – May 31 2012 9 4 0.699 13.699
    Total for Program 42 19 3.769 64.769


    08/09/2011 in General

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