Create account Log in

Archive for the ‘New Jersey’ Category

« Older Entries
Newer Entries »

NJ solar rebate program suspended

Posted May 14th, 2010 by SRECTrade.

This week, the New Jersey Board of Public Utilities announced they are suspending their popular solar incentive program. The rebate paid $1.00 per watt to commercial systems upto 50,000 watts and as high as $1.75 to residential systems.

New Jersey’s actions parallel those the cuts to solar incentives in Spain and the reduction of feed-in tariffs (FiT) in Germany. Fixed rebate programs and feed-in tariffs lack a market mechanism and don’t have the feedback mechanism inherent in a REC or SREC trading program. If legislators set the solar incentives too low, they don’t inspire any development. But when legislators set incentives too high, there is a gold rush — developer overwhelm the rebate or FiT programs that was engendering the frenzy.

These dramatic cuts highlight difference between rebates and feed-in tariffs and an SREC program. SRECs prices move according to supply and demand and are not subject to on-again, off-again whim of legislators and have proven to be a stable, long-term incentive that has been very effective stimulating solar development.

In New Jersey, SRECs are now an even bigger determinant of the economics of a project. With clear, transparent long-term contracts, solar investors and developers have clarity in the cash flows associated with solar. And for smaller systems looking to offset the high upfront costs of installation, prepaid SREC contracts are an interesting alternative to rebate programs – the current bids in New Jersey prepaid SRECs equivalent to approx. $2.27 per installed watt.

Subscribe to the SREC Blog by Email

Share|


Tags: , , , ,
Posted in Grants and Rebates, New Jersey | Comments Off on NJ solar rebate program suspended

PJM Region

Posted March 28th, 2010 by SRECTrade.

The PJM Interconnection is a regional transmission organization.  It serves to connect the electricity produced by the various utilities across a region.  In several states, the Renewable Portfolio Standard legislation lets utilities count renewable electricity produced within the PJM region towards meeting the state’s renewable goals.

In Pennsylvania, for example, a resident within the PJM region can apply for certification in the Pennsylvania SREC program.  If your system is convered in this map, you can sell SRECs to PA!

Washington, DC is similar to Pennsylvania in that both allow SRECs from anywhere within the PJM region, however DC will also qualify facilities that are eligible to deliver their electricity into the region. This may include facilities in states that are adjacent to the PJM region such as New York or Wisconsin.

Ohio is another state that allows SRECs from out of state. In that specific case, the utilities are limited to buying 50% from out of state and only from states within the region that are contiguous: Pennsylvania, West Virginia, Kentucky, Michigan and Indiana.

Washington, DC is similar to Pennsylvania in that both allow SRECs from anywhere within the PJM region, however DC will also qualify facilities that are eligible to deliver their electricity into the region.

For these reasons, it is important to know what constitutes the PJM region to determine whether or not you qualify.  Here is a map of the region, along with the retail electricity companies who are served by PJM.

pjm-region

Share|


Posted in Cross-Listing, Delaware, Illinois, Indiana, Kentucky, Maryland, Michigan, New Jersey, North Carolina, Ohio, Pennsylvania, Tennessee, Virginia, Washington, DC, West Virginia | 6 Comments »

New to Solar?

Posted February 15th, 2010 by SRECTrade.

We realize that many visitors of our site are learning about solar for the first time, so we thought we would put up this post by way of an introduction and some guidance on how to navigate our site. A growing number of states are implementing SREC programs. If you are new to solar, here is what you need to know:

1. Understand SRECs: For a deeper understanding of what SRECs are and how the programs work, visit our SREC Program page.

2. Find out where you are eligible to sell your SRECs: Your state may or may not have a program, however your ability to sell your SRECs into other states could have a significant impact on the value of your SRECs. You may be eligible to get your system certified in many state programs, regardless of if your state has one or not. Everyone should check our Cross-Listing post to see the states in which they may be eligible for certification.

3. Get your system installed: SRECTrade works with several installation companies. In addition, you should be able to sign up for the EasyREC service through your installer. If they do not offer the service, then feel free to contact us directly.

4. Enroll with SRECTrade: SRECTrade provides two options. If you sign up for the EasyREC service, we handle everything else including submitting your state certification applications, creating your SREC tracking account and automating the sale of your SRECs in our auction.

If you do not sign up for EasyREC, here are the additional steps:

4a. Get your system certified by your state: Once the system is installed, it is now ready to be certified by your state and any other states in which you are eligible. You can find out more on where you are eligible and how to apply on the Cross-Listing page. Every state handles this process differently, but we recommend beginning the application as soon as possible, before your installation is complete.

4b. Set up your SREC tracking account: Every state or region will use a different system for creating and tracking the SRECs. The Mid-Atlantic states use GATS, North Carolina uses NC-RETS, Massachusetts uses NE-GIS. If you opt to manage your own SRECs, you will need to have a tracking account with one of these registries. Once you have SRECs in that account, you can then post them in our auction.

4c. Create an account online with SRECTrade: This is the simplest step of all. Complete the online form to create your account and when your SRECs are available in your tracking account, log into your SRECTrade account, select the “Orders” link and place an offer to sell your SRECs.

5. Understand the timing: After you initially sign up, it will take a few months before you begin receiving payments. For example, if your system goes online on January 1st, your January generation will be recorded on February 1st. Your first SREC(s) will be actually credited to your account on March 1st. They would then be sold in the March auction, so your first payment would come in late March. After that, payments will come as SRECs are generated. Also note: some systems operate on a quarterly basis, rather than monthly.

As these processes are refined, we will continue to update this post. Please feel free to contact us any time at 877-466-4606 if you have any questions.

Tags: , , , , ,
Posted in Delaware, Getting Started, Maryland, New Jersey, North Carolina, Ohio, Pennsylvania, SREC Markets, Virginia, Washington, DC, West Virginia | Comments Off on New to Solar?

NJ Solar Energy Advancement and Fair Competition Act

Posted February 5th, 2010 by SRECTrade.

Senate Bill A3520: The Solar Energy Advancement and Fair Competition Act was passed on January 17, 2010 and represents another big step forward for the New Jersey solar market. The state that is leading the way with its SREC program is upping the requirement in the Solar Renewable Portfolio Standard. Here are the key additions included in this legislation:

  1. The RPS for solar increases through 2026 and will remain at or above the 2026 level indefinitely after.
  2. Starting in June, 2010, the SREC requirement will be changed from a percentage to an absolute number of required SRECs each year.
  3. The annual SREC requirement will increase by approximately 20% on average over current requirements.
  4. The RPS shall increase by 20% in any given year if the SREC requirement is met in the each of the previous 3 years AND the average LSE purchase price decreases in 3 consecutive years.
  5. The BPU will be required to establish a new SACP level that shall not reduce previously published SACP levels.
  6. As previously reported, the requirement that a facility be below 2MW to be eligible for SRECs has been lifted.
  7. In the final version of the bill, the legislation disqualifying public utility solar projects from SRECs was removed in favor of the following:  “For projects which are owned, or directly invested in, by a public utility, the board shall determine the number of SRECs with which such projects shall be credited; and in determining such number the board shall ensure that the market for SRECs does not detrimentally affect the development of non-utility solar projects and shall consider how its determination may impact the ratepayers.”

Here are the new requirements listed by year will be posted here:
http://www.srectrade.com/new_jersey_srec.php

This is a huge step forward for all participants in the SREC market as it not only indicates an increase in the potential of the solar market and the number of SRECs that will be traded in the year, but more importantly that the state is committed to developing a viable competitive market for SRECs. This legislation sets out to ensure that all segments of the market can have access to the value created by the market and limits the influence that any single public entity can have over the market.

The Bill can be read in its entirety here: http://www.njleg.state.nj.us/2008/Bills/A4000/3520_R3.HTM

For an explanation of the bill: DSIRE New Jersey RPS

Posted in New Jersey, State RPS | 6 Comments »

SREC-Based Financing Program for ACE, JCP&L and RECO

Posted January 28th, 2010 by SRECTrade.

ACE, JCP&L and RECO have an SREC-Based Financing Program that is available to solar project developers. The utilities are expected to issue three RFPs (requests for proposals) per year available to solar developers in these territories for projects under 500kW with 10-15 year contracts.  In theory, the program is intended to promote solar by providing reasonable assurances regarding the prices of SRECs, however, the RFPs, run by NERA Economic Consulting have not reached the targets set by the program.  In the first solicitation, only 8 bids were received, the most recent one reached 44. The firms intend to increase the targets for future RFPs in order to meet the original goal of the program. As seen below, the average prices tend to be around $400/SREC, while the lowest price bid by a developer was well under $300/SREC! Although these RFPs aren’t viable for the majority of the prospective developers out there, it should serve as an indication of the long term contracts that are out there.

The New Jersey Board of Public Utilities (“Board” or “BPU”) has approved the results of the second solicitation of the SREC-Based Financing Program for ACE, JCP&L, and RECO, which was held in December 2009.  The results are as follows:

Forty-four (44) bids were received, totaling 7,009.628 kW.

Thirty-nine (39) awards were made, totaling 6,521.798 kW.

Five bids (5) were rejected because pricing was found not to be competitive, totaling 487.830 kW.

The simple average NPV of all accepted projects was $2,864.93 (corresponding to an average price of $405.15/SREC for a ten-year project).

The low NPV of all accepted projects is $1,926.53 (corresponding to an average price of $272.44/SREC for a ten-year project).

Posted in New Jersey, SREC Pricing | Comments Off on SREC-Based Financing Program for ACE, JCP&L and RECO

Cross Listing Your SRECs

Posted January 3rd, 2010 by SRECTrade.

2011 Update: State certification information can be found here

One of the benefits of the SRECTrade multi-state auction platform is the ability to cross-list in multiple states in which you have registered your SRECs. If an SREC is cross-listed, it will be included in any state in which it has been registered to be sold.  SRECs will be sold in the state auction that offers the most value. In order to qualify to sell your SRECs in a state that accepts out-of-state SRECs, you need to get your system certified in that state. The following section has information on what states accept out-of-state SRECs and how to get your systems registered and obtain a state certification number. For EasyREC customers, SRECTrade can help you register in the states available to you.

SREC Markets by State

SREC State Registration Information:

Delaware

To get a Delaware state certification number, your installation must be located in DE. You must apply to become an Eligible Energy Resource. The link for the application is here.  For more information, go to the Delaware Public Service Commission.

Contact:
Delaware Public Service Commission
861 Silver Lake Boulevard
Cannon Building, Suite 100
Dover, DE 19904
Main: (302) 736-7500
Toll-Free: (800) 282-8574
Fax: (302) 739-4849

District of Columbia

Eligible to states within and adjacent to the PJM Region. For information on the DC registration process, see DC State Certification Instructions.

Contact:
Dorothy Wideman
Commission Secretary
Public Service Commission of the District of Columbia
1333 H Street, N.W
2nd Floor West Tower
Washington, D.C. 20005

Maryland

To register in Maryland, your solar installation must be in MD and you must complete and file an application for certification as a Solar Renewable Energy Facility (REF) with the Public Service Commission. The link to the application is here.  For more complete details on the process, see Maryland SREC Registration Details.

New Jersey

New Jersey is a closed market, therefore only SRECs produced in New Jersey are eligible. New Jersey residents can apply for state certification at the New Jersey Office of Clean Energy’s website.

Contact:
New Jersey’s Clean Energy Program
c/o Conservation Services Group
75 Lincoln Highway, Suite 100
Iselin, New Jersey 08830
Phone: 866-NJSMART (866-657-6278)

North Carolina

North Carolina is still in the early stages of implementing an SREC program. The state is still accepting applications for a REC tracking system through December 15, 2009.  More information can be found on the North Carolina Utilities Commission website. A sample application can be found here.

Contact:
Chief Clerk
North Carolina Utilities Commission
4325 Mail Services Center
Raleigh, NC 27699-4325

Ohio

Utilities in Ohio are allowed to procure 50% of the SRECs from out of state facilities. However, these states must be contiguous with Ohio (PA, MI, IN, KY, WV). Instructions and forms required for Ohio certification can be found here: Application for Certification as an Ohio Renewable Energy Resource Generating Facility

Contact:
Public Utilities Commission of Ohio
Email: AEPS@puc.state.oh.us
Toll-Free: (800) 686-PUCO (7826)
Phone: (614) 466-3292 (in Columbus area)
Fax: (614) 752-8351
180 East Broad Street
Columbus, Ohio 43215
Directions to the PUCO

Pennsylvania

Utilities in Pennsylvania are allowed to buy out of state SRECs from solar generators in the PJM region to meet the Renewable Portfolio Standard. If you are interested in selling in PA, you need to get your solar system registered.  For a detailed explanation of the process with screenshots see our most recent post on Pennsylvania State Certification Registration Process.

Contact Info:
Dina M. Deana
Pennsylvania AEPS Program Manager
Clean Power Markets, Inc.
Phone: 1-877-AEPS-773 (1-877-237-7773)
Fax: (610) 444-9213
Email: paaeps@cleanpowermarkets.com


Share|


Tags: , , , , , ,
Posted in Cross-Listing, Delaware, Getting Started, Maryland, New Jersey, North Carolina, Ohio, Pennsylvania, SREC Markets, Virginia, Washington, DC, West Virginia | 4 Comments »

New Jersey Renewable Portfolio Standard Solar Details

Posted November 10th, 2009 by SRECTrade.

New Jersey RPS solar requirement and SREC information: www.srectrade.com/new_jersey_srec.php

Posted in New Jersey, State RPS | Comments Off on New Jersey Renewable Portfolio Standard Solar Details

NJ SREC prices relative to the SACP

Posted November 5th, 2009 by SRECTrade.

We often get questions from customers asking why New Jersey SRECs were trading at $675 for most of the early part f this year, but have since dropped.  The primary driver of this change is that we are now in the 2010 energy year in New Jersey. As of June 1, 2009, all SRECs created are 2010 SRECs. The $675 price we saw in previous months was for 2009 SRECs (through May 31, 2009). The $675 price represented 95% of the $711 2009 solar alternative compliance payment (SACP), which is what utilities pay for the SRECs they can’t collect.  You will see that the $660 price that we’ve seen for 2010 SRECs is actually consistent with pricing earlier this year.  This time the SACP is $693 for 2010 SRECs, however the new price of $660 still represents 95% of the SACP. The chart below tracks how our NJ auction history has performed compared to the SACP; the theoretical ceiling price for SRECs.

NJ SREC Pricing Relative to SACP

Posted in New Jersey, SREC Pricing | Comments Off on NJ SREC prices relative to the SACP

DC SREC Market Eligibility

Posted November 4th, 2009 by SRECTrade.

Solar owners in the following states can register and sell into the DC SREC market:

Delaware
Illinois
Indiana
Kentucky
Maryland
New Jersey
New York
North Carolina
Pennsylvania
Tennessee
Virginia
West Virginia
Wisconsin

Check our DC State Eligibility post for more information. For detailed instructions on how to apply, go to the DC Certification Blog Post.

Posted in Delaware, Indiana, Kentucky, Maryland, New Jersey, New York, Pennsylvania, Virginia, Wisconsin | Comments Off on DC SREC Market Eligibility

Final sale for 2009 NJ SRECs

Posted September 18th, 2009 by SRECTrade.

The true-up period for purchasing 2009 New Jersey SRECs ends 9/30/09.  This means that buyers will only be purchasing these SRECs (generation prior to June 1, 2009) through the end of the month. Our next auction is on October 2nd and will not include any 2009 NJ SRECs. However, we will arrange a special sale for any remaining 2009 SRECs before the end of September.  Please contact us at 877-466-4606 if you still have 2009 NJ SRECs.

Posted in New Jersey | Comments Off on Final sale for 2009 NJ SRECs

« Older Entries
Newer Entries »
Clients
Markets
About
Legal

© 2024 SRECTrade, Inc. All rights reserved.