Three leading utilities in the state of New Jersey, U.S., have begun seeking proposals for 80 MW of solar PV projects in order to secure Solar Renewable Energy Certificates (SRECs).
Atlantic City Electric (ACE), Jersey Central Power & Light (JCP&L) and Rockland Electric Company (RECO) are expected to secure the SRECs by signing 10-year power purchase agreements (PPAs) with solar developers working in the state to bolster its solar PV portfolio.
The three-year SREC acquisition program is certified by the New Jersey Board of Public Utilities (BPU) Office of Clean Energy, and has been introduced to encourage utilities and business to adopt greener energy practices. One SREC represents the solar energy attributes of 1 MWh of generation.
Accordingly, ACE is seeking 23 MW of SRECs; JCP&L has sought proposals for 52 MW, and RECO is in the market for 4.5 MW of SRECs. Projects that are eligible for SRECs include net-metered installations up to 2 MW in size, as well as grid-connected PV projects that are located on properly closed landfills, brownfield sites or areas of "historic fill".
New Jerseys BPU launched an inaugural SREC program a few years back, which saw 316 new solar PV projects completed and adding 56 MW of solar capacity to the state. This current SREC program is the second of its kind in the state.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.