SREC-Only Pilot Program
Summary
On April 3, the New Jersey Clean Energy Program™ (NJCEP) opened registration for the new Solar Renewable Energy Credit (SREC)-Only Pilot Program. The SREC-Only Pilot Program is designed to enable New Jersey customer-generators to participate in the SREC market without participating in the CORE rebate program. New customers and customers already in the CORE program queue are eligible to participate in the SREC-Only Pilot Program, but CORE Program customers must forgo their CORE program rebate to do so. The SREC-Only Pilot Program is intended to provide customers and project developers with more flexibility to choose to accelerate project development, provided they are comfortable with their project financials without the benefit of a rebate. SRECs are a market instrument to assist in financing solar that can and will change in the market depending on supply and demand. The NJCEP makes no representation as to current or future price of SRECs and this risk is entirely assumed by the registrant. If you have any questions about the SREC-Only Pilot Program or how to complete the registration packet, please call the NJ Clean Energy Program at 1-866-NJSMART.
The registration period for the Pilot program is now OPEN. The Board extended the registration period for SREC-Only Pilot Registrations at its September 12, 2007 meeting until the requisite rulemaking process is completed.
Links to SREC-Only Pilot Program Documents
1. Initial Registration Package. The initial registration package contains the forms necessary for registering a project in the SREC-Only Pilot Program.
2. Weekly Status Reports. The weekly status report is posted each Monday, and contains information on the previous weeks as well as total program activity. The most recent report is posted at the top of the list.
3. Final Registration Package Once a project has been accepted into the SREC-Only Pilot Program, construction is complete and the project is ready for inspection by the NJCEP, registrants should complete and submit the Final Registration Package. Receipt of a complete Final Registration Package triggers scheduling the NJCEP inspection.
4. Program Guidebook The Guidebook documents program guidelines and procedures, and should be consulted first for any questions about registrant eligibility and responsibilities, registration processing, and other questions.
Links to Other Helpful Information
Because CORE Program customers electing to register in the SREC Pilot Program will be removed from the CORE program queue, thereby foregoing their CORE rebate, the Renewable Energy Market Managers provide links to the most current CORE queue lists and assessment of CORE program budgets by project category. These links are intended to help customers assess their status in the CORE queue relative to funding levels available at this time, and to make a more informed decision about whether to opt out of the CORE program in favor of registering in the SREC Pilot Program. In addition, we provide a link to the latest SREC trading statistics.
Links to Data on NJ Solar Project Development History and Pipelines
Links to Data on SREC Demand, Supply, and Trading
Links to Board Orders Relevant to the SREC-Only Pilot Program