Renewable Electric Storage
|Under Review||1||1,000||$ 300,000|
*as of February 24, 2017
Renewable Electric Storage Program
NOTICE: Open enrollment continues in Fiscal Year 2017, which began on July 1, 2016, for the Renewable Electric Storage (RES) Program. Applications will continue to be accepted until the program's $3 million budget is fully committed (see chart above for status of remaining funds) or the Board replaces the program with a competitive solicitation. Please check this page periodically for program updates.
The Renewable Electric Storage Program provides financial incentives for electric energy storage systems that are integrated with Class 1 renewable energy projects installed behind-the-meter at non-residential customer sites. It seeks to benefit New Jersey ratepayers by supporting the installation of renewable electric storage systems in government, commercial, institutional and industrial entities for the purpose of providing emergency back-up power for essential services, offsetting peak loads by shifting electricity to hours of higher demand and/or helping to stabilize the electric distribution system through the provision of frequency regulation services.
Information regarding RES projects approved to date can be found below:
The open enrollment program offers an incentive of $300 per kWh of energy capacity. The maximum incentive per project is $300,000 or 30% of the project’s total cost, whichever is less. The maximum incentive per entity is $500,000, which applies to multiple projects under the ownership of a single site host, developer/installer or other ownership entity. Full information on eligibility, installation requirements and terms and conditions can be found on the on-line portal.
The Board approved a budget of $3 million. The program will continue accepting applications until the $3 million budget is fully committed (see chart above for remaining funds) or the Board replaces the program with a competitive solicitation. The solicitation framework will be based on research conducted by the Rutgers Laboratory for Energy Smart Systems (LESS).
The open enrollment program accepts applications through an on-line portal. You may also preview the application here in read-only format. A summary of applications received, approved or denied is shown in the chart above.
After receipt, applications are reviewed for completeness and incomplete applications are removed from the application queue. Applicants with incomplete applications are notified of the deficiencies and given an opportunity to remedy the deficiencies and submit a revised application. Revised applications are inserted at the end of the application queue.
A pre-installation site inspection is required before an application can be approved to verify equipment installation has not commenced. After being notified that their application has been approved, applicants have 12 months to complete their project and submit Final As-Built documentation. Project completion deadlines can be extended for up to six months. If an extension is granted, however, the incentive award will be reduced by 10%.
Please visit the Renewable Electric Storage Stakeholder Group page for information on upcoming meetings or to subscribe to the listserv to receive communication on this topic.