New Jersey, Unted States [RenewableEnergyWorld.com] Atlantic City Electric (ACE) and Jersey Central Power&Light (JCP&L) are conducting a Request for Proposal (RFP) to secure Solar Renewable Energy Certificates (SRECs). A total of 61 megawatts of solar generating capacity – 19 for ACE and 42 for JCP&L – will be solicited to help meet New Jersey Renewable Portfolio Standards. The solicitations will take place over the next three years.
“By entering into long-term agreements to purchase SRECs, we hope to provide a strong financial incentive for increased investment in solar power projects throughout New Jersey,” said John Paganie, vice president, Customer Service & Energy Efficiency, FirstEnergy, the parent company of JCP&L. “In addition, purchasing SRECs also helps us meet the state’s renewable energy requirements.”
The RFP manager is NERA Economic Consulting, a global consulting firm with expertise in energy markets and procurement. 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’ Office of Clean Energy.