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New Jersey Board Of Public Utilities Office of Clean Energy PowerPoint Presentation
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New Jersey Board Of Public Utilities Office of Clean Energy

New Jersey Board Of Public Utilities Office of Clean Energy

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New Jersey Board Of Public Utilities Office of Clean Energy

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  1. New Jersey Board Of Public Utilities Office of Clean Energy New Jersey’s Solar Program An Integrated Approach Plugging into the Sun for Clean Emission-free Energy Air Innovations - Chicago August 10,2004 NJBPU - OCE

  2. Why - Solar • New Jersey has Good Solar • Relatively High Rates • Persian Gulf of Flat Roofs • Integrated Program to Support and Advance Solar Air Innovations - Chicago August 10,2004 NJBPU - OCE

  3. New Jersey’s Integrated Approach • Societal Benefit Charges • Incentives and Financing • Net Metering and Interconnection Standards • Renewable Portfolio Standards • Renewable Energy Certificates Air Innovations - Chicago August 10,2004 NJBPU - OCE

  4. New Jersey’s Societal Benefits Charge Non-By-passable charge on all electric use Average Funding Level - $ 124 Million per year - 4th year 75% for EE and 25% for RE $ 14/HH/yr Rebate for Capital Cost < 10kW system up to 70 % rebate Grants and long term financing for EE/RE projects Grants and long term financing for RE Power Plants Air Innovations - Chicago August 10,2004 NJBPU - OCE

  5. New Jersey’s Net Metering and Interconnections Standards • Up to 2 MW – 125% of Annual Use • Small Commercial Business • Up to 10 MW peak • < 10 kW Inverter-based - No fee • Reduce barriers • Limit timeframe for review Air Innovations - Chicago August 10,2004 NJBPU - OCE

  6. New Jersey’s RPS Renewable Portfolio Standard – Requirement that all suppliers provide a certain percentage of their electricity generated by renewable energy Renewable Energy Certificate – Represents the attributes of the renewable energy separate from the electrons Alternate Compliance Payment – Safety value Air Innovations - Chicago August 10,2004 NJBPU - OCE

  7. New Jersey’s RPS • Doubled the Current RPS from • 2% Class 1 in 2008 to 4% in 2008 • Established a Solar Set Aside of • the Class 1 at 120,000 MWh (90 MW) • Class 2 remains at 2.5% • Established a 20% by 2020 • Class 1 target Air Innovations - Chicago August 10,2004 NJBPU - OCE

  8. New Jersey’s RPS Technology • Class I • Solar (PV), Wind, Landfill Gas, • Sustainbly Grown and Harvested • Biomass, Wave, Tidal. • Class II • Resource Recovery (MSWI) • Small Hydro (< 30 MW) Air Innovations - Chicago August 10,2004 NJBPU - OCE

  9. New Jersey’s RPS Pricing and Liquidity • Class I REC • Proxy $15/MWh - ACP $50/MWh • Solar REC • Proxy $150/MWh – SACP $300/MWh • Lifetime • 1 year - June 1 – May 31 • 3 month true up period Air Innovations - Chicago August 10,2004 NJBPU - OCE

  10. New Jersey’s RPS 2003 Total Energy Usage 72,000,000 MWh increases at approx 1% per year Air Innovations - Chicago August 10,2004 NJBPU - OCE

  11. New Jersey’s RPS Value of RECs GHG Credits $25 - $10 $250 - $100 Air Innovations - Chicago August 10,2004 NJBPU - OCE

  12. RPS Bill Cost to the NJ Customers Air Innovations - Chicago August 10,2004 NJBPU - OCE

  13. Results • 3 MW Installed • Over 30 MW Committed Funding • Payments with SREC 5-7 years • 100 – 250 MW by 2008 (REC price) • $ 5.50 / HH / Yr - $20/ HH/ Yr Air Innovations - Chicago August 10,2004 NJBPU - OCE

  14. New Jersey’s Integrated Approach For Promoting and Advancing Clean Emission-free Solar Electric Information on New Jersey’s Clean Energy Program: www.njcleanenergy.com Evaluation Reports Rutgers’ Center for Energy, Economics and Environmental Policy (CEEEP) http://policy.rutgers.edu/ceeep/images/NJ_REMA_Final_8-04.pdf Air Innovations - Chicago August 10,2004 NJBPU - OCE

  15. New Jersey’s Integrated Approach For Promoting and Advancing Clean Emission-free Solar Electric NEXT STEPS Generate Renewable Hydrogen From Solar On-Site – Distributively Generated and Stored Less Wires - More Reliability Less Pipes - More Security Less Mess - More Jobs Air Innovations - Chicago August 10,2004 NJBPU - OCE

  16. James E. McGreevey, Governor NJ Board of Public UtilitiesOffice of Clean Energy • MAKE POWERFUL CHOICES Air Innovations - Chicago August 10,2004 NJBPU - OCE