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-99:
    I was wondering if your Program is set up to assist someone like me. I am a JCP&L customer and I am considering purchasing a 10kW solar system for my home. In order to mitigate risk on the price of SRECs, I am looking to enter into a selling agreement for the life (or for near the life) of a 15-year loan I am taking to finance the system.  I would like the agreement to guarantee a floor for the SREC price (the SREC price would not fall below this floor). Is this Program what I am looking for?

    The Program is in line with what you are looking for. JCP&L, through this SREC-Based Financing Program, is contracting to purchase Solar Renewable Energy Certificates ("SRECs") from new solar projects. If you submit a Proposal, you will be asked to provide a price per SREC and a term for the contract between 10 and 15 years. If you are awarded a contract under the Program, you will receive the price you bid for each SREC produced by the Project and transferred to JCP&L for the term of the contract. Thus, the Program does provide you with the opportunity to bid for an award that would guarantee a floor to the SREC sale price for a period up to 15 years.



    02/22/2010 in General

  • FAQ-98:
    Can we propose a series of residential or small business projects in a set amount (e.g., 250 kW), get a NJCEP number, and submit a bid using this consolidation of projects? Our intent would be to have a bid reservation with which we will go to the market to get the underlying project to fill out the reservation. Our goal would be to get a contract for a consolidated amount.

    A Proposal under the SREC-Based Financing Program is intended to be a binding bid tied to a specific site. There are no provisions in the SREC Purchase and Sale Agreement (“SREC PSA”) or in the Stipulation approved by the Board to allow for “reservations” or to allow for the replacement of one project for another. The SREC PSA and the Stipulation can be found on the Documents page of the web site.



    02/22/2010 in Requirements for Proposals

  • FAQ-97:
    Does the SREC-Based Financing Program apply to wind projects?

    No. The Program is exclusively for the selection of solar projects.



    02/22/2010 in General

  • FAQ-96:
    I own two homes.  I live in one and rent out the other.  Would both homes qualify or only the primary residence?           

    There is no requirement under the Program that the premises where your Project will reside be your primary residence. Both homes could qualify, subject to the other eligibility criteria under the Program.



    02/22/2010 in General

  • FAQ-95:
    If a bidder did not submit an EOI in a prior solicitation, can the bidder submit one for this current solicitation or for a future solicitation?

    Yes. Participation in a previous solicitation of the SREC-Based Financing Program is not a prerequisite to participating in future solicitations.  You may submit your Expression of Interest for this current solicitation now using the form available on the Documents page of our web site.  A more detailed schedule for this current solicitation is posted to the Calendar section of our web site.



    02/22/2010 in General

  • FAQ-94:
    Does the EDC need to certify or approve the particular sales and installation company for a project proposed under the Program?

    The EDC does not certify or approve of particular companies for the sale or installation of the solar projects that could apply under the Program.



    02/22/2010 in General

  • FAQ-93:
    We are a residential and commercial aggregator of SRECs. We typically work with homeowners and businesses to register their systems to produce SRECs, then purchase these SRECs over the long term. Can we participate as an aggregator without building new projects?

    No. The program is designed as a financing program. It is intended to facilitate financing of new solar installations by providing an opportunity to engage in ten to fifteen year SREC contracts at a fixed price. As such, participation does require that a bidder commit to constructing a specified solar facility and to sell SRECs produced at that facility to the EDCs.



    02/22/2010 in Requirements for Proposals

  • FAQ-92:
    Am I precluded from participating in the SREC-Based Financing Program if I have been awarded a loan by the New Jersey Economic Development Authority? Will the contract that I would sign if I receive an award under the SREC-Based Financing Program automatically assign 50% of the revenue from the SRECs to the New Jersey Economic Development Authority for repayment of the loan?

    The SREC-Based Financing Program does not prohibit the participation of projects that have been awarded a loan by the New Jersey Economic Development Authority ("NJ EDA") under one of its Clean Energy Solutions programs.  It is the responsibility of the bidder to determine whether any rules of the applicable program administered by the NJ EDA would itself preclude or prohibit participation in the SREC-Based Financing Program. It is also the responsibility of the owner of the project to put in place any needed mechanism or agreement outside of the SREC-Based Financing Program to transfer or assign a portion of the revenues from the SRECs to the NJ EDA to repay the loan.  The owner of a project that receives an award under the SREC-Based Financing Program is required to sign the SREC Purchase and Sale Agreement ("SREC PSA") without modification.  A bidder in the SREC-Based Financing Program is required to accept the terms of the SREC PSA as a condition of having its bid considered.  The SREC PSA does not have provisions for the express purpose of the transfer of a portion of the revenue from the SRECs and the SREC PSA cannot be modified or amended in any way (and in particular to effectuate such an assignment or transfer).



    06/17/2010 in Purchase and Sale Agreement , General

  • FAQ-91:
    Can Projects that have a CORE rebate participate in this Program?

    Projects that received or will receive a rebate from the Customer On-Site Renewable Energy (“CORE”) Program in force from 2001 to 2008 are not eligible to present a Proposal under this RFP.



    02/22/2010 in Requirements for Proposals

  • FAQ-90:
    Are there specific targets for residential projects?

    There are no specific targets for residential projects. However, the Program recognizes two (2) segments based on the size of the Projects. The first and smaller segment will include Projects less than or equal to 50 kW. The Board has established an aspirational goal that approximately 25% of the Projects be from the smaller segment for ACE and JCP&L. The aspirational goal for RECO is 50%. If there is a tie for the last accepted Project, the Solicitation Manager chooses a Project in the smaller segment if the aspirational goal is not met. The Solicitation Manager may also recommend to the Board special treatment of Projects in the smaller segment to meet the aspirational goal.



    02/26/2010 in Evaluation of Proposals

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