ACE, JCP&L and RECO Seeking Proposals for Solar Renewable Energy Projects
MORRISTOWN, N.J., April 20, 2015 /PRNewswire/ — As part of the ongoing efforts to support solar energy in New Jersey, Atlantic City Electric (ACE), Jersey Central Power & Light (JCP&L) and Rockland Electric Company (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.
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.