Utility Financing Programs
The SREC-Based Financing Program is now open. Atlantic City Electric Company, Jersey Central Power & Light Company, and Rockland Electric Company peridocally issue Request for Proposals (“RFP”) to select solar projects with which to enter into contracts for the purchase of SRECs. To participate or learn more, please visit this web site where you will find additional information and documents and can submit any questions you may have.
In July 2008, the New Jersey Board of Public Utilities (NJBPU) directed the four Electric Distribution Companies (EDCs) to develop long term contracting or financing programs for the development of solar energy systems. At that time, the NJBPU approved innovative financing programs at all four of the states' electric utilities to support the installation of solar photovoltaic systems that produce clean, renewable electricity for customers' onsite use.
The utility solar financing programs expired in 2011. The Board by an Order signed May 23, 2012 directed the EDCs to consider extending these programs to serve 180 MW of solar capacity over three years. And on June 1, 2012 the EDCs filed a Notice of Intent to participate in an Extended EDC SREC Program consistent with Staff's recommendations adopted by the NJBPU.
PSE&G's announcement is below.
PSE&G has concluded its second solicitation of its Solar Loan III Program. The schedule for the third solicitation will be announced soon. Interested parties are encouraged to visit www.pseg.com/solarloan for further information, including the program capacity being made available at this time and the solicitation schedule.
Atlantic City Electric sent a verified petition and supporting exhibits to adjust the level of the Rider RGGI charge associated with ACE's Solar Renewable Energy Certificate Financing Program.
The SRECs accrued from the EDC SREC-based financing programs are auctioned periodically with the proceeds used to reduce ratepayer contributions to program costs. More information can be found at the auction website.
- I/M/O the Petition of the Four EDCs for Approval of an SREC Auction Manager - BPU Dkt. No. E013121180
Learn more about financing programs in specific utility areas by clicking on one of the logos below.