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New Jersey Board Of Public Utilities Office of Clean Energy

New Jersey Board Of Public Utilities Office of Clean Energy. New Jersey’s Solar Program An Integrated Approach Plugging into the Sun for Clean Emission-free Energy. Air Innovations - Chicago August 10,2004 NJBPU - OCE. Why - Solar. New Jersey has Good Solar Relatively High Rates

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New Jersey Board Of Public Utilities Office of Clean Energy

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  1. New Jersey Board Of Public Utilities Office of Clean Energy New Jersey’s Solar Program An Integrated Approach Plugging into the Sun for Clean Emission-free Energy Air Innovations - Chicago August 10,2004 NJBPU - OCE

  2. Why - Solar • New Jersey has Good Solar • Relatively High Rates • Persian Gulf of Flat Roofs • Integrated Program to Support and Advance Solar Air Innovations - Chicago August 10,2004 NJBPU - OCE

  3. New Jersey’s Integrated Approach • Societal Benefit Charges • Incentives and Financing • Net Metering and Interconnection Standards • Renewable Portfolio Standards • Renewable Energy Certificates Air Innovations - Chicago August 10,2004 NJBPU - OCE

  4. New Jersey’s Societal Benefits Charge Non-By-passable charge on all electric use Average Funding Level - $ 124 Million per year - 4th year 75% for EE and 25% for RE $ 14/HH/yr Rebate for Capital Cost < 10kW system up to 70 % rebate Grants and long term financing for EE/RE projects Grants and long term financing for RE Power Plants Air Innovations - Chicago August 10,2004 NJBPU - OCE

  5. New Jersey’s Net Metering and Interconnections Standards • Up to 2 MW – 125% of Annual Use • Small Commercial Business • Up to 10 MW peak • < 10 kW Inverter-based - No fee • Reduce barriers • Limit timeframe for review Air Innovations - Chicago August 10,2004 NJBPU - OCE

  6. New Jersey’s RPS Renewable Portfolio Standard – Requirement that all suppliers provide a certain percentage of their electricity generated by renewable energy Renewable Energy Certificate – Represents the attributes of the renewable energy separate from the electrons Alternate Compliance Payment – Safety value Air Innovations - Chicago August 10,2004 NJBPU - OCE

  7. New Jersey’s RPS • Doubled the Current RPS from • 2% Class 1 in 2008 to 4% in 2008 • Established a Solar Set Aside of • the Class 1 at 120,000 MWh (90 MW) • Class 2 remains at 2.5% • Established a 20% by 2020 • Class 1 target Air Innovations - Chicago August 10,2004 NJBPU - OCE

  8. New Jersey’s RPS Technology • Class I • Solar (PV), Wind, Landfill Gas, • Sustainbly Grown and Harvested • Biomass, Wave, Tidal. • Class II • Resource Recovery (MSWI) • Small Hydro (< 30 MW) Air Innovations - Chicago August 10,2004 NJBPU - OCE

  9. New Jersey’s RPS Pricing and Liquidity • Class I REC • Proxy $15/MWh - ACP $50/MWh • Solar REC • Proxy $150/MWh – SACP $300/MWh • Lifetime • 1 year - June 1 – May 31 • 3 month true up period Air Innovations - Chicago August 10,2004 NJBPU - OCE

  10. New Jersey’s RPS 2003 Total Energy Usage 72,000,000 MWh increases at approx 1% per year Air Innovations - Chicago August 10,2004 NJBPU - OCE

  11. New Jersey’s RPS Value of RECs GHG Credits $25 - $10 $250 - $100 Air Innovations - Chicago August 10,2004 NJBPU - OCE

  12. RPS Bill Cost to the NJ Customers Air Innovations - Chicago August 10,2004 NJBPU - OCE

  13. Results • 3 MW Installed • Over 30 MW Committed Funding • Payments with SREC 5-7 years • 100 – 250 MW by 2008 (REC price) • $ 5.50 / HH / Yr - $20/ HH/ Yr Air Innovations - Chicago August 10,2004 NJBPU - OCE

  14. New Jersey’s Integrated Approach For Promoting and Advancing Clean Emission-free Solar Electric Information on New Jersey’s Clean Energy Program: www.njcleanenergy.com Evaluation Reports Rutgers’ Center for Energy, Economics and Environmental Policy (CEEEP) http://policy.rutgers.edu/ceeep/images/NJ_REMA_Final_8-04.pdf Air Innovations - Chicago August 10,2004 NJBPU - OCE

  15. New Jersey’s Integrated Approach For Promoting and Advancing Clean Emission-free Solar Electric NEXT STEPS Generate Renewable Hydrogen From Solar On-Site – Distributively Generated and Stored Less Wires - More Reliability Less Pipes - More Security Less Mess - More Jobs Air Innovations - Chicago August 10,2004 NJBPU - OCE

  16. James E. McGreevey, Governor NJ Board of Public UtilitiesOffice of Clean Energy • MAKE POWERFUL CHOICES Air Innovations - Chicago August 10,2004 NJBPU - OCE

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