New Jerseys Clean Energy Program 2011 Renewable Energy
New Jersey’s Clean Energy Program: 2011 Renewable Energy Plan Overview of Draft Compliance Filing REC Meeting 10/26/10 Charlie Garrison
Installed Capacity Comparison Installed Capacity Rate Is 215% Of Same Period For Prior Year
NJ Solar Installations By Program As of 9/30/10 SREC Registration Program Has Provided Almost 50% Of The Installed Solar Capacity
Installed Capacity Forecast Installed Solar Capacity Continues To Trend In The Right Direction
$60. 33 Million Total RE Budget Includes $46. 3 Million Of Carryover Incentives For Over 3, 000 Committed Projects
$9. 8 Million New Incentive Budget 2011 REIP Incentive Budget Summary – New Funding Description ($Million) Wind & Bio Power – Incentives $5. 0 Solar – ESFI $3. 8 NJ REMI $1. 0 Total $9. 8
Programs – Increased Emphasis on SREC Registration Program • EDC Solar Financing Incentive (ESFI) for those projects which participate in the EDC SREC-Based Financing Program (JCPL, ACE, RECO). Allocate $3. 8 Million. – REIP • Allocate $5. 0 Million for customer sited wind and biopower projects • No upfront rebates for solar projects – NJ REMI • Allocate $1. 0 Million • Maintain project eligibility and incentive levels as contained in 2010 Plan (subject to modification)
EDC Solar Financing Incentive (ESFI) – Allocate $3. 8 Mil To Support EDC Solar Financing Projects – Incentive payment is only available to projects that are awarded an EDC Solar financing program contract. – Market Segments; Residential Up To 10 k. W And Public And Non-profit Up To 50 k. W. – Payment Caps At 7. 5 k. W For Residential And 30 k. W For Public And Non-profit. – $. 50/Watt for projects installed between 1/1 and 12/31/2011.
EDC Solar Financing Incentive (ESFI) – Eligible projects must meet the following criteria: • Submit final as built paper work to the Market Manager • Demonstrate approval of the interconnection by their EDC • Document acceptance in the EDC SREC-Based Financing Program – Payments will be made on a first in time first served basis, no commitments will be made
2011 Overview for REIP Wind and Bio power – Allocate $5. 0 Mil In Incentives – Continue Rebates At Current Levels – Provide New Incentive For Innovative Wind Technology (performance based) • Incentive will be paid for actual production during 12 months of energy production – Continue Support For Feasibility Studies – Support Small Wind Working Group
Reduce Administration Costs – Reduce Application Requirements And Review • Eliminate Several Current Requirements For Initial And Final Application Processing – Create Two Tiers For Inspection • Rooftop With Similar Scope Currently Used • Ground Based Verify System Is In Place And Operational – New registrations to be submitted via online application portal
2011 Activity – 2010 Carryover • Approximately 3, 000 projects from REIP, CORE and SRP – 2011 Program Goals • REIP; anticipated approval of 600 new projects • SRP ; anticipated approval of 2, 000 new projects
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