The SREC-II program is designed to purchase SRECs at a competitive, fixed price for up to ten (10) years

Program Description

Atlantic City Electric Company, Jersey Central Power & Light Company, and Rockland Electric Company periodically issue RFPs to select solar projects with which to enter into contracts for the purchase of SRECs at fixed price for ten (10) years.  If you are ready to install a new Solar PV system, you can participate in this program by responding to the RFPs.

Proposals are solicited under three program segments:

  • Segment 1: Residential/Small Commercial — Net-Metered residential and small commercial PV projects less than or equal to 50 KW
  • Segment 2: Commercial — Net-Metered solar PV projects greater than 50 kW up to 2 MW (Note: 2MW cap is currently lifted, see RFP Bid Rules for details)
  • Segment 3: Utility-Scale — Grid-supply solar PV projects certified by the BPU as located on closed landfills, brownfields, or areas of historic fill.

The total number of SRECs that the EDC will purchase over the entire term is limited to a base cap of 1,350 kWh of solar generation per KW DC, or a period of 10 years, whichever occurs first. For example, a 10 KW project with a 10 year SREC contract would be limited to selling 135 SRECs.

Eligibility

A number of important restrictions related to project eligibility are included below (see the program web site for a complete description):

  • Projects must be located in the service territories of Atlantic City Electric Company, Jersey Central Power & Light Company, and Rockland Electric Company
  • Both residential and non-residential projects are eligible
  • Projects must be installed on the customer side of the electric meter, and agree to a net metering arrangement with the utility
  • Projects funded or scheduled to be funded by the Customer On-Site Renewable Energy (CORE) rebate program from 2001-2008 are not eligible.
  • Existing projects which are already interconnected to the grid are not eligible
  • Projects must be equipped with a generation meter to measure SREC production.

Submitting an Application

A Consolidated Bid Application (Bid) must contain several pieces of additional information, including a single, fixed SREC price and contract length of 10 years. The Bids will be evaluated on a price-only basis.

Award of projects is based on the competitiveness of each project’s SREC bid price.

The Solicitation Manager (Navigant Consulting) provides recommendations to the New Jersey Board of Public Utilities on the competitiveness of each Bid who will ultimately decide which bids will be awarded contracts.

All materials required to submit a proposal can be found on the documents section of this website.

Sign up for updates

To receive RFP alerts and notifications, please ensure you are registered on our mailing list here: Mailing List Registration.

RFP Schedule

Date Action
October 3, 2016 Release of RFP for Round 5
October 24, 2016 Optional RFP Overview Webinar (11:00 AM)
November 30, 2016 Consolidated Bid Application due (5:00 PM)
December 7  – 14, 2016 SM reviews preliminary recommendations with BPU Staff, EDCs and Rate Counsel for input
December 20, 2016 Deadline for any opportunity for input – SM develops final recommendations to the Board
December 22, 2016 SM submits Round 5 recommendations to Board
January or February BPU Meeting[1] Board Meeting and Written Order
Next Business Day following BPU Meeting Round 5 Final Awards Announced
+45 Days following BPU Meeting Execute SREC PSAs with Round 5 Winners

Website

This site, provided by Navigant Consulting, Inc., is your primary source of information for the SREC-Based Financing Program (“Program”). It is provided for Jersey Central Power & Light Company (“JCP&L”), Atlantic City Electric Company (“ACE”), and Rockland Electric Company (“RECO”). This site will be updated regularly, so please check back often for current information and documents.  If you have any questions regarding this RFP, please contact the Solicitation Manager at njsolar@navigant.com or (201) 503-7732.

[1] BPU meeting dates have not yet been announced.  Please check the BPU site for schedule updates:  http://www.state.nj.us/bpu/agenda/