New Jersey utilities seek proposals for solar projects

 New Jersey utilities seek proposals for solar projects

Three New Jersey utilities are seeking to obtain nearly 80-MW of Solar Renewable Energy Certificates (SRECs). Atlantic City Electric (ACE, 23-MW), Jersey Central Power & Light (JCP&L, 52-MW) and Rockland Electric Co. (RECO, 4.5-MW) are participating in the second phase of an SREC-based financing program designed to encourage solar power in the state. The first phase comprised of 316 new projects, accounting for more than 56-MW of solar capacity.

One SREC represents one megawatt-hour of generation — produced at a solar energy 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 using 10-year purchase agreements.

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