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.”

Requirements for Proposals

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  • FAQ-233:
    I understand there is a 2 MW eligibility cap for participation in the SREC-Based Financing Program. I further understand that the 20% developer cap will be applied to projects in the ACE service territory. Because my project is located in ACE's service territory, must I limit project size to approx 1.4 MW (i.e., 20% of the planned quantity for ACE in RPS Year 2012) in order to maintain eligibility for participation in the SREC Based Financing Program?

    The maximum system size for a Project in ACE's territory for this 2012 RPS Reporting Year is 1,978.674 kW. All projects that have a size that exceeds this maximum will automatically be rejected.
     

    The planned quantity for ACE is 6,925.359 kW. This maximum size ensures that the size of the Project (1,978.674) does not exceed 20% of the planned quantity (1385.072 kW) by more than 30% of the system (593.602 kW). 



    06/08/2011 in Requirements for Proposals

  • FAQ-231:
    The announcement regarding the bid results of the sixth solicitation dated April 4, 2011 implies that the average price was about $400 per SREC. Does that mean I could expect to receive about 10 years * 19 SRECs/year * $400 / SREC = $76,000 if I were accepted in the upcoming solicitation?

    Your calculation is accurate for a price of $400/SREC and a production of 19 SRECs per year. 
     
    As you note, while $400/SREC was approximately the average price in the sixth solicitation; this does not mean that such a price will result in an award in the upcoming solicitation for any given EDC territory.   Further, we would also note that payments are made quarterly on the basis of the SRECs actually generated by the Project and transferred to the EDC over the term of the SREC PSA. The term of the SREC PSA, which is specified in the bid, can be from 10 to 15 years. 


    06/08/2011 in Requirements for Proposals

  • FAQ-228:
    We are working with a company who is going to pay for the system and be the owner. Can you confirm that there is no owner cap similar to the developer cap.


    There are no Owner caps under the Program. However, there is a Developer cap. Please note that for Proposals in the ACE and JCP&L territories, the Solicitation Manager will apply the developer cap to each Developer, whether or not it is the Developer that submits the Proposal under the Program. It is a requirement of the Program that the Developer, as well as the Developer's majority owner and ultimate parent, be named in the Proposal. The Solicitation Manager applies the developer cap so that the combined awards across all solicitations in a given RPS Reporting Year for the EDC (ACE or JCP&L) that are associated with any one Developer, or any combination of affiliated Developers under the same majority ownership, do not exceed 20% of the planned quantity for that EDC in that RPS Reporting Year by more than the larger of:(a) 150 kW; or (b) if the Program is undersubscribed in the prior Reporting Year, 30% of the system size of the last accepted Proposal associated with that Developer (or any combination of affiliated Developers under the same majority ownership).



    06/02/2011 in Requirements for Proposals

  • FAQ-227:
    Please provide details regarding how we can make changes the size of the Project after we have received an award and the constructed size is different from the size initially provided in our proposal under the SREC Based Financing Program.

    Please see Paragraph 5.2.12 of the RFP Rules that provide the details of changes in Project size. These details, many of which you quote in your question, are as follows.

    After execution of the SREC Purchase and Sale Agreement ("SREC PSA"), the Owner may request that the EDC approve a modification in the size (kW) of the actual constructed Project (compared to the size provided in the Proposal) of up to 10%. The EDC will approve such a modification provided that the Project continues to satisfy all other requirements related to this Program and that this modification: (a) does not change the segment to which the Project belongs; (b) does not cause the Developer Cap to be exceeded; and (c) does not cause the Project to exceed 2 MW.

    Such a request would be made in writing by the Owner and signatory to the SREC Purchase and Sale Agreement ("SREC PSA") directly to the EDC (ACE, JCP&L, or RECO) that is the counterparty to the SREC PSA. Upon an Owner receiving an award by the Board, the Solicitation Manager provides to the Owner contact information for the EDC. The Owner may make the written request to the contact provided.



    06/02/2011 in Requirements for Proposals

  • FAQ-226:
    If we submit as the developer and owner of the project and have not settled on a financier, can we amend this upon receipt of the award?

    The Program does not require that you provide your financial arrangements as part of the Proposal for the Project.



    06/02/2011 in Requirements for Proposals

  • FAQ-225:
    Is Appendix C to the SREC PSA required as part of the Qualification Materials and can I request the Solicitation Manager assist me in preparing this document?

    Appendix C is required as part of the Qualification Materials if the Owner of the Project is not the same individual or entity as the Host. Please note that we have developed a user form that you may use to fill out Appendix C; just click "Yes"; when asked whether you would like to use this form. Further, if you are having difficulty preparing Appendix C, the Solicitation Manager will, at the Proponent's request, prepare Appendix C to the SREC PSA based on information submitted by the Proponent in its Project Proposal Summary Sheet as long as your request and information are submitted at NJSolar@nera.com by the deadline for submission of EOIs



    06/02/2011 in Requirements for Proposals

  • FAQ-222:
    Should I include copies of the SRP or REIP acceptance letters as part of my qualification materials?

    Yes. A copy of the acceptance letter for the Project from the Office of Clean Energy or its designees under the Initial Application process of the SRP or the REIP is required as part of the Qualification Materials.



    06/02/2011 in Requirements for Proposals

  • FAQ-219:
    ase confirm that the SREC Purchase and Sale Agreement dated January 29, 2010 remains in effect to be used for this current ro

    The SREC Purchase and Sale Agreement currently posted to the Web site and dated January 29, 2010 is the document in effect for the current round of bids.



    06/02/2011 in Requirements for Proposals

  • FAQ-218:
    Are Utility affiliates allowed to participate in the program?

    Yes, an affiliate of an EDC that is not regulated by the Board is allowed to participate in the SREC-Based Financing Program for that EDC. For ACE and JCP&L, such an affiliate would be subject to the same developer cap as other participants, namely 20% of the planned quantities across all solicitations for an RPS Reporting Year. For RECO, an affiliate of the EDC is subject to a developer cap of 50% of the planned quantities across all solicitations for an RPS Year.



    06/02/2011 in Requirements for Proposals

  • FAQ-209:
    Is there a maximum number of SRECs that the EDC will purchase under the SREC PSA? How it is calculated?

    The SREC Purchase and Sale Agreement ("SREC PSA") specifies that the EDC will purchase SRECs from a Project that has received an award from the New Jersey Board of Public Utilities up to a maximum calculated on the basis of the DC nameplate capacity and 1,300 hours. The Project must be properly sized in relation to annual energy consumption at the site in order to qualify for net metering under the net metering rules.  
     
    The SREC PSA has a provision for purchase of SRECs from the Project beyond this amount. If the Project produces more SRECs than this amount the EDC has the option (but not the obligation) to purchase any or all of the excess SRECs at 95% of the purchase price. 


    05/26/2011 in Requirements for Proposals


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