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New Jersey Board of Public Utilities New Jersey Solar SREC Program PowerPoint PPT Presentation


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New Jersey Board of Public Utilities New Jersey Solar SREC Program Completely Rebate-free since 2010 NREL SREC Webinar 1/18/12 Mike Winka, Director NJBPU OCE Scott Hunter, RE Program Manager NJBPU OCE. The Solar Advancement Act (P.L.2009, c.289) vs. today’s RPS.

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New Jersey Board of Public Utilities New Jersey Solar SREC Program

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New jersey board of public utilities new jersey solar srec program

New Jersey Board of Public Utilities

New Jersey Solar SREC Program

Completely Rebate-free since 2010

NREL SREC Webinar

1/18/12

Mike Winka, Director NJBPU OCE

Scott Hunter, RE Program Manager NJBPU OCE


New jersey board of public utilities new jersey solar srec program

The Solar Advancement Act

(P.L.2009, c.289) vs. today’s RPS


Solar installed capacity preliminary data

Solar Installed Capacity Preliminary Data

  • The preliminary installed solar capacity as of 12/31/11 is approximately 564 to 566 MW.

    • Approximately 35 to 36 mw installed in current month

  • The preliminary solar capacity project pipeline as of 12/31/11 is over 616 MW.

    • Over 99% of pipeline projects are registered in the SRP program.


Solar capacity

Solar Capacity

NJCEP Solar Pipeline Plus Installed Projects as of 11/30/11

The capacity installed of the pipeline projects will depend on several

Factors including the federal incentives, LTC and SREC prices as

well as the NJ Legislature actions and NJBPU regulatory and policy

Direction.


Solar installed capacity report

Solar Installed Capacity Report

NJ Solar Installations by Year As of 11/30/11


Solar installed capacity report1

Solar Installed Capacity Report

NJ Solar Installations by Year As of 11/30/11


Solar projects by interconnection type

Solar Projects by Interconnection Type


Solar project scrub rate

Solar Project Scrub Rate

  • Deactivation Analysis by Expiration Date

    • 12/01/2009 to 11/30/2011 (24 Months)


Solar installed capacity forecast as of 11 30 11

Solar Installed Capacity Forecast As Of 11/30/11

  • The 531.7 MW of solar capacity installed as of 11/30/11 the forecast of installed solar capacity for EY 2012 is estimated to be capable of producing approximately 596,800 to 611,000 SRECs during Energy year 2012.

  • This equates to a range of 135.0% to 138.3% of the EY 2012 RPS requirement of 442,000 SRECs.

  • This projection assumes past actions are a predictor of future activities which may not be correct.

  • These are a number of factors that influence this projection including:

  • Will the installation pipeline continue when the federal investment tax credit reverts from an upfront cash grant (a rebate) back to a tax credit?

  • Will the installation pipeline continue when the federal accelerated depreciation is eliminated in 2012?

  • Given the reduction in the value of the SREC will the pace of installations continue?


Solar installed capacity forecast as of 11 30 111

Solar Installed Capacity Forecast As Of 11/30/11


Solar rps ey 2012 thru 2016 compared to current solar projection

Solar RPS EY 2012 thru 2016 compared to current solar projection


Edc srec program capacity

EDC SREC Program Capacity

  • PSE&G Solar Loan Program – 80 MW

    • Loan on net metered projects completion for 50% of cost at a set rate 6% for residential and 11% for all others - pay back by SRECs;

  • PSE&G Solar for All – 80 MW

    • Grid supply projects – rate based at the WACC

  • JCPL, ACE and RECO SREC solicitation 64 MW

    • Net metered projects -developers bid in the SREC price and term needed to build solar – payments set for term based on the contract

  • The EDC SREC Program are currently approximately 20 of the SREC market


New jersey board of public utilities new jersey solar srec program

Ratepayer Exposure for Long-term Financing Programs Only

Does not include any environmental benefits of solar, the impacts on the transmission and distribution system, or any other costs or benefits of solar other than those directly related to the EDC Solar Long term Contract Program.

Ratepayer Exposure is not for the overall SREC Program, but only for the Long-term financing Program.

SREC Auction Proceeds are uncertain due to unknown future SREC prices.

DRAFT

13


Revised staff options

Revised Staff Options

1. Increase the solar RPS

  • Establish an incremental increase in the solar RPS to address the oversupplied SREC market. This increase in the solar RPS would be a specific set aside for the EDC SREC programs and would implement the Board’s solar policies for both economic and environmental benefits.

    . Virtual Increase in the Solar RPS only increase the EDC program capacity.

  • Establish additional EDC SREC program capacity. This increase in EDC SREC programs can be set aside to implement the Board’s solar policies for both economic and environmental benefits. In this manner the solar developers can continue to build solar based on the Board’s policies. This will also keep downward pressure on the SREC prices and make the EDC SREC program very price competitive.

    Both of these proposals also address the volatility in SREC market by establishing additional capacity in a price competitive manner.

    One of the key components in proceeding with one of these two positions is that the ratepayer must see an overall cost savings from the current status for this solar capacity increase – basically a net zero sum gain for the ratepayer – More solar at a lower overall cost


New jersey board of public utilities new jersey solar srec program

More information on

New Jersey’s Clean Energy Program

at www.NJCleanEnergy.com

or [email protected]

[email protected]

  • 777 3335

    [email protected]

    http://www.njcleanenergy.com/renewable-energy/program-updates-and-background-information/solar-transition/solar-transition


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