SREC-Based Financing Program
In New Jersey, a portion of the electricity delivered to New Jersey customers must be supplied from solar electric generation systems. In response to a directive of the New Jersey Board of Public Utilities ("BPU" or "Board"), Jersey Central Power & Light (JCP&L), Atlantic City Electric Company (ACE), and Rockland Electric Company (RECO) have been issuing Request for Proposals ("RFPs") to select solar projects with which they enter into long term contracts for the purchase of Solar Renewable Energy Certificates ("SRECs"), based on the bid price of each project’s SRECs.
This is the second phase of an SREC-based financing program designed to support solar energy in New Jersey through the purchase of SRECs and known as “SREC II”. JCP&L, ACE, and RECO have chosen Navigant Consulting, Inc., ("Navigant") to act as the Solicitation Manager (SM) for these SREC RFPs.
The SREC II-Based Financing Program is being implemented over a three year period. In each of the three years of the Program, the SM will conduct 3 solicitations. There will be a maximum of nine solicitations, with each solicitation referred to as a “Round” (i.e., Rounds 1 through 9).
For further information on how to participate in an upcoming or current SREC-II Based Financing RFP, please visit the SREC-II Based Financing Program Website.*
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