Three New Jersey utilities seeking solar offers for 10-year deals

New Jersey utilities Atlantic City Electric (ACE), Jersey Central Power & Light (JCP&L) and Rockland Electric Co. (RECO) are seeking proposals for projects that will produce Solar Renewable Energy Certificates (SRECs).  

One SREC represents the solar renewable energy attributes of one megawatt-hour of generation from a solar generating facility that has been certified by the New Jersey Board of Public Utilities (BPU) Office of Clean Energy. The utilities are expected to secure SRECs produced by the projects using 10-year purchase agreements, said FirstEnergy (NYSE: FE), the parent of JCP&L, in an April 20 statement. 

Throughout the three-year SREC acquisition program, the utilities are seeking to obtain nearly 80 megawatts (MW) of SRECs – 23 MW for ACE; 52 MW for JCP&L; and 4.5 MW for RECO. Eligible projects include net metered projects up to two MW in size, and grid supply projects certified as being located on properly closed landfills, brownfields or areas of historic fill.

This is the second phase of an SREC-based financing program designed to support solar energy in New Jersey through the purchase of SRECs. The previous program featured the completion of 316 new projects accounting for more than 56 MW of solar capacity. 

The solicitation manager for the SREC program is Navigant. For additional information about the SREC proposal process visit www.njsolarprogram.com.

About Barry Cassell 20414 Articles
Barry Cassell is Chief Analyst for GenerationHub covering coal and emission controls issues, projects and policy. He has covered the coal and power generation industry for more than 24 years, beginning in November 2011 at GenerationHub and prior to that as editor of SNL Energy’s Coal Report. He was formerly with Coal Outlook for 15 years as the publication’s editor and contributing writer, and prior to that he was editor of Coal & Synfuels Technology and associate editor of The Energy Report. He has a bachelor’s degree from Central Michigan University.