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November 15, 2011: ANNOUNCEMENT: BPU Approves the Results of Round 8
At its meeting on November 9, 2011, The New Jersey Board of Public Utilities (“Board” or “BPU”) approved the results of the eighth solicitation under the SREC-Based Financing Program for ACE, JCP&L, and RECO. The eighth solicitation was held for a statewide planned quantity of 15,617.749 kW, divided as follows: 9,986.292 kW for JCP&L, 5,477.147 kW for ACE, and 154.310 kW for RECO. Bids were due on September 2, 2011.
The Board has released an Order memorializing its decision and officially announcing the results presented below. The Board Order will be posted on the Documents page of the web site when it becomes available: http://www.njedcsolar.com/documents.cfm
Information regarding the Eighth Solicitation is as follows:
Results for the first and smallest segment for Projects less than or equal to 50 kW are as follows
- The average NPV for the recommended awards is $1,647.47 (corresponding to an average SREC price of $232.98 for a ten-year contract); and
- The lowest NPV for the recommended awards is $819.66 (corresponding to an average SREC price of $115.91 for a ten-year contract);
Results for the second segment for Projects greater than 50 kW but less than or equal to 500 kW large are as follows:
- The average NPV for the recommended awards is $1,571.10 (corresponding to an average SREC price of $222.18 for a ten-year contract); and
- The lowest NPV for the recommended awards is $1,038.70 (corresponding to an average SREC price of $146.89 for a ten-year contract);
Results for the last segment for Projects greater than 500 kW but less than or equal to 2 MW are as follows:
- The average NPV for the recommended awards is $1,519.76 (corresponding to an average SREC price of $214.92 for a ten-year contract); and
- The lowest NPV for the recommended awards is $1,236.55 (corresponding to an average SREC price of $174.87 for a ten-year contract).