Renewable Electric Storage
|Application Status as of May 26, 2016|
|Description||Number||Energy Capacity (kWh)||Incentive Request ($000)|
Renewable Electric Storage Program
The FY 2016 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.
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.
Upcoming meeting information: Rutgers University Laboratory for Energy Smart Systems (RU LESS) and DNVGL will host BPU staff and public stakeholders on June 3, 2016 (10am-Noon) to present the preliminary results and findings of their renewable electric storage evaluation study.
The Board approved a $6 million budget with $3 million allocated to an open enrollment program and the remaining $3 million reserved for a solicitation later in FY 2016. The solicitation framework will be based on research currently being conducted by the Rutgers Laboratory for Energy Smart Systems (LESS).
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 open enrollment program accepts applications through an on-line portal and will remain open until the $3 million budget has been committed. A summary of applications received and approved is shown 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. After being notified that their application has been approved, applicants have 12 months to complete their project and submit Final As-Built documentation submitted. Projects can be extended for up to six months. If an extension is grant, however, the incentive award will be reduced by 10%.