N.J. Admin. Code § 14:8-10.3

Current through Register Vol. 56, No. 21, November 4, 2024

Section 14:8-10.3 - Transition Incentive Program structure

(a) The Transition Incentive Program shall be comprised of TRECs that are created by PJM-EIS on the Generation Attribute Tracking System (GATS) for each megawatt-hour generated and metered by eligible solar projects.

(b) TRECs shall be jointly procured by the EDCs to satisfy compliance obligations pursuant to the Transition Incentive Renewable Portfolio Standards (TI-RPS) at (c) below. The EDCs shall work with Board staff to jointly procure a TREC Administrator, who will be responsible for administering the procurement, allocation, and coordinating retirement of TRECs

(c) The TI-RPS is a carve-out of the Class I RPS requirement. Each TREC shall be allocated to, and retired on behalf of, New Jersey's TPS/BGS providers based on their respective market share of retail sales. Each TREC retired shall reduce the Class I requirement by one REC as set forth at N.J.A. C. 14:8-2.3(d) and (r).

(d) Irrevocable Standing Orders shall be treated as follows.

1. An Irrevocable Standing Order, defined in the GATS Operating Rule as "A reoccurring automatic transfer of certificates for a given generating unit from the account holder's active subaccount to the active subaccount held by different account holders," shall be created in GATS for each TREC eligible project. The Irrevocable Standing Order will cause the automatic transfer of TRECs created by an eligible solar project to the EDC Joint GATS Account.

i. The Irrevocable Standing Order shall require for that Generator that 100 percent of the certificates be automatically transferred from each meter reading to the EDC Joint GATS Account.

ii. A Standing Order is not activated until the transferor confirms, and the TREC administrator accepts, the Standing Order transfer.

2. Solar aggregators, brokers, and installers acting on behalf of solar project owners may perform the role of transferor, register as the project owner and create an Irrevocable Standing Order for each eligible project for which it is reporting generation into GATS.

3. The TREC Administrator will confirm that:

i. Each account holder has created the Irrevocable Standing Order;

ii. Each Irrevocable Standing Order is complete, identifies the transferor, and represents 100 percent of all TRECS for that generator;

iii. The solar aggregator, broker, installer, or other account holder has the authority to create the Irrevocable Standing Order; and

iv. The automatic transfer of TRECs has occurred.

4. Irrevocable Standing Orders authorizing transfers can only be terminated with the assent of both parties.

N.J. Admin. Code § 14:8-10.3

Adopted by 52 N.J.R. 1850(a), effective 10/5/2020