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Q&A

NOTE: 

  • Questions Received during Round 1 -- Questions #1-23.
  • Questions Received during Round 2 -- Questions #24-42
  • Questions Received during Round 3 - Questions #43-65
  • Questions Received during the Current Round 4 - Questions #66 and on.

​Click the link below to submit a question:

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Question
Answer
1
1. Could you explain the purpose of the $1500 Assignment fee. Is this a one time only fee? 2. What happens if the property and/or solar system are sold?

The purpose of the $1,500 assignment fee is to cover administrative and legal costs incurred by the EDC each time the counterparty chooses to assign the PSA.  This fee is applied on a per assignment basis and is applicable each time the PSA is assigned to a new party, including assignments related to, or in connection with, a sale of the property and/or the project.  Please check the PSAs for further information.

2

​On the Webinar, you mentioned "Developer Caps".  Where can I learn more about what a Developer Cap is?

The Developer Caps are described in Section 5.1.9 – 5.1.12 of the RFP and only apply to projects in the ACE and JCP&L service territories only. The Developer Caps set maximum percentages for amounts awarded to developer/majority owners by segment and by EDC. 

3

​Does the Interconnection Application need to be accepted by the utility prior to submitting the EOI and Bid Package?

No.  The RFP does not require the Interconnection Application be accepted by the utility prior to submitting an EOI or Bid Package.

However, because providing the project size in kW is a requirement of the EOI and Bid Package, applicants should ensure that the proposed project sizing will meet both applicable net metering limitations and EDC interconnection requirements.
4

Due to the time required for issuance of an SRP #, would an EOI without an SRP # be acceptable?  (if it were to be accompanied by proof that the SRP # process has been initiated)

No, an SRP # must accompany the EOI.  Please see the announcement posted to the RFP Web Site on 3/31/2015 which provides information furnished to us by the SRP Program Administrator:

Instructions for submitting SRP Registrations to Market Manager:
All SRP Registrations for the SREC Based Financing Program Solicitation must be RECEIVED by the Market Manager by Monday, April 13th by 4 pm. Due to the high volume of registrations, no exceptions will be given on this deadline.
 
SRP Registration Packet must include:
 
  • A clearly written cover letter noting the project is intended for participation in the SREC Based Financing Program SREC II Solicitation.
  • Cover letter must be the first page of SRP Registration packet.
  • If there is no cover letter, the Market Manager will assume the project is not intended for this Solicitation.
  • Please review your SRP Registration prior to submitting to the Market Manager to ensure all required information is included in the packet.
Please note: 
  • Any SRP Registration packets that were previously submitted prior to this notice without a cover letter must submit a cover letter notifying the Market Manager if a registration was intended for this Solicitation (please include customer/system owner information in the cover letter).
  • No documents can be accepted via email; must be mailed or hand delivered.
 SRP Registration Packets should be submitted to:
 SREC Registration Program
New Jersey's Clean Energy Program
c/o Conservation Services Group
75 Lincoln Highway, Suite 100
Iselin, New Jersey  08830
 If you have any further questions, please send an inquiry titled SREC II Solicitation to the NJREINFO@njcleanenergy.com.
5

1 - Can the system be built after the EOI and still qualify, even if it is allowed to be connected PTO prior to the awards announced?

2- Please confirm the requirement for interconnection approval prior to submitting the EOI or Bid Package.  The webinar slides (pg. 9) state that “the project will not request interconnection prior to BPU approval of bids and award of SREC-PSA”.  Does this mean that the project should not file an interconnection application with respective utility until after awarded the SREC-PSA?  Please confirm, thank you.

The system can be constructed after the EOI and still qualify.

For projects under Segments 1 & 2:
The project cannot (i) request final interconnection approval from the EDC or (ii) be interconnected prior to the Board Order approving the results of the solicitation.  Projects that are either interconnected or request final interconnection approval from an EDC prior to the Board’s approval of awards will be ineligible to enter into a PSA with the EDC.   See section 1.2.10 of the RFP for further detail.
For projects under Segment 3:
The project can (i) request final interconnection approval from the EDC or (ii) be interconnected prior to the Board Order approving the results of the solicitation.  See section 1.2.11 of the RFP for further detail.
 Please note that we will revise the webinar slide to appropriately qualify the requirement noted as pertaining to Segments 1 & 2 only.
6
From Section 5.1.9: "The Developer Cap for any one bidder (including all affiliated entities) in Segment 1 shall be limited to no more than 20% of the capacity awarded in any one solicitation Round." Does this refer to 20% of the capacity awarded for the solicitation Round for Segment 1, or 20% of the total capacity awarded for the round for Segments 1, 2, and 3? Could you please post a chart listing the Developer Cap for the first solicitation Round for each utility and Segment?

Per Section 5.1.9, the following Developer Caps (kW) for the first solicitation round apply unless the RFP is undersubscribed:

 Table - Round 1 Developer Caps by Segment and EDC (kW)
Segment
JCP&L
ACE
Segment 1 – Set Aside and Aspirational
174
(this Round)
------------
1,560 kW
(All  Rounds)
76
(this Round)
------------
690 kW
(All  Rounds)
Segment 2 – Res/Commercial
7,800 kW
(All Rounds)
3,450 kW
(All Rounds)
Segment 3 –  Landfill/Brownfield/Historic Fill
N/A
N/A
 
Please note that there are no developer caps applicable to RECO.
 Segment 1 caps apply to each round individually and all rounds combined.  Segment 2 caps apply to all rounds combined, and may be applied once the maximums noted in the table are reached with no further awards in subsequent rounds being granted.
7
Does an applicant need to add the transaction fee and administrative fee together? For example - is the total subtracted each time you sell SRECs $39.66 for ACE, $48.21 for JCPL and $69.11 for RECO? If so, if I need $100 per SREC then do I need to submit at $139.66, $148.21 or $169.11 to net that amount?

Yes, the following summarizes the total fees:

 Program Participant Fees - $/SREC
EDC
Administrative Fee ($/SREC)
Transaction Fee ($/SREC)
Total Fees
($/SREC)
ACE
$17.07
$22.59
$39.66
JCP&L
$17.00
$31.21
$48.21
RECO
$30.00
$39.11
$69.11
 
The total fees assessed on a per SREC basis is shown in the last column of the above table.  This amount will be assessed against the proposed price.  If $100 per SREC is proposed in the RFP, then the following amounts would be received by the bidder:
 Example – Net Effect of Program Participant Fees – $/SREC
EDC
Proposed Price ($/SREC)
Total Fees
($/SREC)
Amount Remitted to Program Participant ($/SREC)
ACE
$100
$39.66
$60.34
JCP&L
$100
$48.21
$51.79
RECO
$100
$69.11
$30.89
8
Pursuant to the Certification listed in page 4 of the Checklist, the Proponent certifies that it will sign the SREC PSA within 5 business days of begin given Final Notice of Award by the EDC. If the Proponent does not sign within that timeframe, the SREC II Program RFP states the following 1.2.24. If the Owner of a Successful Project does not enter into the SREC PSA within the timeframe specified in Section 4.1.7, the Owner will lose its cash deposit. The Owner may re‐submit a Proposal for the same Successful Project in a future solicitation Round at the same or at a lower price. The Owner of a Successful Project is prohibited from re‐submitting a Proposal for the same Successful Project in a future solicitation Round at a higher price, except as provided in Section 3.2.12. If the owner does not sign the PSA in the specified timeframe, are they liable for any additional costs or damages besides the application fee originally submitted? Are they still required to make a cash deposit pursuant to section 5.2.7 and 5.2.8?

With respect to an original submission of a Proposal, the successful proposers must provide a cash deposit within 14 days of the Board’s written order approving a bid selection.  If the cash deposit is not made, then the project will be rejected.  If the cash deposit is made and the PSA is not executed within the prescribed time, then the cash deposit will become property of the EDC.  Beyond the cash deposit and application fees, there are no other costs or damages in the event the PSA is not executed within the prescribed time.  The prescribed time is within 5 business days of being given a Final Notice of Award by the EDC per Section 4.1.7 of the RFP rules.  In the case of a subsequent re-submittal of a Proposal, the successful re-submitting proposer, again, would be required to comply with the same requirements including application fees and providing a cash deposit within 14 days of Board’s subsequent approval as evidenced by a subsequent written Board Order.

9

I note that there is a requirement to submit SRP registration by 4/13 at 4pm.  One of the requirements of SRP registration is an executed contract for the system.  For the project I am applying for, I do not yet have an executed contract for the purchase of the system; however I have an executed PPA dated 3/13/15.  Will this project meet the requirement for SREC registration?  Please advise.

Please direct all questions with respect to the SRP registration process to the SRP Program Administrator:

 
SREC Registration Program
New Jersey's Clean Energy Program
c/o Conservation Services Group
75 Lincoln Highway, Suite 100
Iselin, New Jersey  08830
 
If you have any further questions, please send an inquiry titled SREC II Solicitation to the NJREINFO@njcleanenergy.com.
10

I cannot find the summary of average winning bids in prior solicitations. I thought I saw it somewhere but I cannot find it anymore.

Average winning bids from prior solicitations are available in the “Announcements” section of the www.njedcsolar.com web site.

11

When will Round 2 of be announced and due for bid?  Thank you.

There will be approximately 100 days between solicitations.  No date has been announced yet.

12

Can any project be included as long as it has not received a "permission to operate" yet from the utility company, even if it received an initial SREC registration application number last year?

REVISED 4/14/2015

Provided that the initial SRP registration continues to be valid at the time, the response to question #5 above (as repeated here) would still be applicable: 

For projects under Segments 1 & 2:
The project cannot (i) request final interconnection approval from the EDC or (ii) be interconnected prior to the Board Order approving the results of the solicitation.  Projects that are either interconnected or request final interconnection approval from an EDC prior to the Board’s approval of awards will be ineligible to enter into a PSA with the EDC.   See section 1.2.10 of the RFP for further detail.
For projects under Segment 3:
The project can (i) request final interconnection approval from the EDC or (ii) be interconnected prior to the Board Order approving the results of the solicitation.  See section 1.2.11 of the RFP for further detail.
For additional information regarding the validity of an SRP registration, including the (i) time-frames for project completion and extensions, and (ii) regarding non-compliance, please refer to:
or refer questions to:
 SREC Registration Program
New Jersey's Clean Energy Program
c/o Conservation Services Group
75 Lincoln Highway, Suite 100
Iselin, New Jersey  08830
Please be advised that any project subject to the penalty described at N.J.A.C. 14:8-2.4 (e) is not eligible for an award under the SREC-II Program.
13

Does every project that gets accepted pay a $1500 project assignment fee?

The fee is payable if the awarded PSA is assigned to another party.  Otherwise, the fee is not applicable to parties who have not assigned the PSA.

Please see the response to question 1 for further info:
The purpose of the $1,500 assignment fee is to cover administrative and legal costs incurred by the EDC each time the counterparty chooses to assign the PSA.  This fee is applied on a per assignment basis and is applicable each time the PSA is assigned to a new party, including assignments related to, or in connection with, a sale of the property and/or the project.  Please check the PSAs for further information.
14
In the event that the Host and Owner are different entities with a common parent company, will they be considered the same entity with regards to this RFP? If not, will it be necessary to submit an Appendix C to the PSA signed by the Host? And, if it is not necessary to submit an Appendix C, is it necessary to submit any documentation illustrating the relationship between the entities involved?

In the event that the Host and Owner are different legal entities with a common parent company, Appendix C (set forth in Appendix 5 to the RFP) would still need to be completed by the Host that owns the premises or facility where the project will reside.  Sharing the same parent company does not change the distinction between the Host and the project Owner and the need for Appendix C.

15
What is the "Supplement Form" referenced in Section 3 of Appendix 5? I can't find reference to it anywhere else in the RFP documents.

The Supplement Form has been posted to the Documents section of the RFP web site.

16

I submitted the SREC RFP Registration by the 4pm 4/13 deadline specified on the SREC II Program website.  For reference, the account number for the Site Host on my Registration Form is XXXXXXX.  It is not specified in the RFP materials as to when I should expect to be notified if my project cleared the process and if I will receive a NJCEP Application Number to submit in time for the EOI due on Monday, 4/20.  Please advise how this process is expected to work.  Thank you.

Please submit the EOI with the NJCEP Application number once you have received it from the SRP Program Administrator.  The SRP process is separate from the RFP and managed by the SRP Program Administrator.  EOIs are due on Monday, April 20 and require an NJCEP Application Number.

 Please direct any further questions with respect to the SRP registration process to the SRP Program Administrator:
 SREC Registration Program
New Jersey's Clean Energy Program
c/o Conservation Services Group
75 Lincoln Highway, Suite 100
Iselin, New Jersey  08830
17

We are very interested in responding to the RFP under the SREC- Based Financing II.  However we have not submitted an application for the SRP #.  Does this mean that we are disqualified from the project?

Per the instructions posted in the announcements section of the RFP web site, the SRP Administrator has indicated that it needed submittals by April 13th at 4 PM in order to process the SRP # in time for the April 20th deadline established for the EOI.  To the extent you are able to receive an SRP # in the meantime, you may bid into this first round.  If unable, you will still have the opportunity to bid into subsequent Rounds.

18

I’m interested in submitting a bid for the SREC II RFP.  However, one question I have is that is this RFP just for Round 1?  If so, if I don’t respond to this RFP then will I not be allowed to submit a proposal for Round 2?

This RFP is Round 1.  Bidders who do not respond to this RFP will be able to bid into subsequent rounds.  There will be a total of 9 rounds over a span of 3 years.

19

Yesterday at the NJ Renewable Energy meeting I asked a question concerning construction of a system timing.  You were not able to hear my question and Scott Hunter said to look on your web site and if it is not clear, to email you.  I hope you receive this, since the web site has no “contact us” page.  Having been on the site, it is even more ambiguous.  I asked can we begin construction on a Segment 1 system, now that the bid has been submitted.  It appears in 1.2.10 of the RFP that it is permitted to be built, (after bid is submitted) but if it is interconnected before the SREC PSA is executed, than any SREC earned during that time will not be purchased by the EDC.  Am I correct in assuming that these exempt SRECs are earned and able to be sold on the open market?  You stated some time lines that you hope to meet.  These help us to determine when we can build and apply for the interconnection that is needed.  On the web site under “Calendar” the dates are different than what you stated yesterday.  On the site it states the Board meeting will be May 27, and you said June 17.  Your stated schedule is 3 weeks later than what is posted.  Looking at the “Announcement” page, there is no mention of these later dates.  I am also subscribed through the “Subscribe for updates” page, and nothing has come to me through that.

In response to your question, a Segment 1 project cannot (i) request final interconnection approval from the EDC or (ii) be interconnected prior to the Board Order approving the results of the solicitation.  Projects that are either interconnected or request final interconnection approval from an EDC prior to the Board’s approval of awards will be ineligible to enter into a PSA with the EDC.   See section 1.2.10 of the RFP for further detail.

Projects that have submitted a bid under the SREC II RFP may choose to commence construction at the risk of not receiving an award, however, in order to remain eligible under the RFP they must not request final interconnection approval and interconnect the system until after the Board Order approving the results of the solicitation.  If final interconnection approval of a system  is requested after the Board Order approving the award, and it is interconnected, any SRECs generated in the time between the date of interconnection and the commencement date of the executed SREC PSA will not be purchased by the EDC.  Please check the terms of the applicable SREC PSA for further detail.
 
We have recently been informed that the May 27 Board meeting date cannot be accommodated by the parties, and therefore, the item will instead be on the June 17th Board meeting agenda.  We have updated the schedule on the website accordingly.
 
Per the RFP web site, you may contact us at njsolar@navigant.com at any time.
20

​How can I learn of future RFPs?

​The next RFP is tentatively scheduled for late June.  Please register for updates on our mailing list here and periodically check the RFP web site located at www.njsolarprogram.com.

21

​I have two questions:

-        Will the program open again and if so when for another round of bids?
-        Will the results of round 1 be published?

The next RFP is tentatively scheduled for late June.  Please register for updates on our mailing list here and periodically check the RFP web site located at www.njsolarprogram.com

 
An updated schedule of the RFP Round 1 timeline has been posted to the RFP web site.
22
On your "Calendar" page, it states: "SM submits Round 1 recommendations to the Board June 1, 2015" Has this been done, and if so, when was it submitted?

​It has been submitted in accordance with the schedule posted.​

23
Will round one bids be submitted to the Board as posted in the calendar or July 23, or has this date changed again?

​Yes.

24

I want to confirm if there is a required first priority lien placed on the solar equipment for those systems that participate in the EDC SREC II solar financing program?

 

I know that there is such a lien to those facilities that participate in the PSEG Solar Loan III program but just clarifying if that is the same case for this program as well.

Under the SREC II Program, there is no lien placed on the solar equipment.  See the applicable SREC Purchase and Sale Agreement (the “SREC-PSA”) for details regarding the EDC’s purchase of Transferred SRECs from projects that enter into the SREC-PSA.

25

Is there any way for me to see what prices were bid for the First Solicitation. It says in the Board Order that average price per SREC will not be disclosed due to too few distinct price offers – but we are interested in participating in the next solicitation, and are looking for some benchmark or guidance regarding where bids should be.

 

Any help in this regard would be very much appreciated. Even if a comparison to cleared bid prices from the first round of EDC SREC solicitations would be helpful.

No. As noted in the July 23, 2015 Board Order, the results from the first round will not be disclosed. 

26
If the property and solar panels installed on that property are sold, does the SPA have to be assigned to the purchaser?

​Yes.

27

Is there an actual application package? I cannot find it. Just submit first page of SREC registration form and send it in? No average price? How about a range for residential? Can someone who is about to start construction and already have an SRP # apply?

To participate in the SREC-II Program, please review the following Documents posted to the Documents section of the RFP web site:
​The results from the previous solicitation round are posted to the Results page.  As noted in the Results page, average SREC prices from the first round have not been posted per the BPU Order due to too few distinct price offers.
Only new net-metered Projects that are not constructed (not have completed construction) as of the date that the bid is submitted in this RFP will be eligible for participation in the SREC II Program in Segments 1 and 2.
 
Projects that have submitted a bid under the SREC II RFP may choose to commence construction at the risk of not receiving an award, however, in order to remain eligible under the RFP they must not request final interconnection approval and interconnect the system until after the Board Order approving the results of the solicitation for Segments 1 & 2.
 
For projects under Segments 1 & 2:
The project cannot (i) request final interconnection approval from the EDC or (ii) be interconnected prior to the Board Order approving the results of the solicitation.  Projects that are either interconnected or request final interconnection approval from an EDC prior to the Board’s approval of awards will be ineligible to enter into a PSA with the EDC.   See section 2.3.1 of the RFP for further detail.
For projects under Segment 3:
The project can (i) request final interconnection approval from the EDC or (ii) be interconnected prior to the Board Order approving the results of the solicitation.  See section 2.3.1 of the RFP for further detail.
28

​Timing of Build and Interconnection – Is it correct that a project that winds a bid in Round 2 would not be able to receive ‘Permission To Operate’ until January 2016 once its PSA has been executed? Is it also correct that a project cannot request “Permission To Operate’ until December 2015 when winners have been announced? If these dates are not correct, when is the earliest that a project could request PTO (ie. request final interconnection approval from the EDC), and receive PTO (ie. approval to operate).?

​Please see Section 2.3.1 (second and third bullets) of the RFP which refers to the timing of construction completion, interconnection (i.e., receipt of permission from the EDC to operate) and requesting final interconnection approval from the EDC. Also see, Table 2-2 (RFP Round 2 Target Schedule).

29

Post-PSA Process – After a PSA has been executed, what additional paperwork/processes are required?

​With respect to the RFP, no additional paperwork/processes are required after the PSA has been executed. Thereafter, all paperwork/process requirements will be as set forth in the SREC PSA.

30

Automatic Transfers – How do we set-up automatic transfers of created SRECs from GATS to the EDC’s accounts?

Please see Section 10 (Delivery of SRECs), subsections B and C of the SREC PSA.

 

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