N.J. Admin. Code § 14:8-11.8

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

Section 14:8-11.8 - Mechanism for creation of NJ SREC-IIs

(a) NJ SREC-IIs shall be created based upon metered generation supplied to GATS by the owners of eligible facilities or their agents. Each SuSI-eligible facility must have been issued a New Jersey State Certification Number pursuant to N.J.A.C. 14:8-11.5(g), be registered in GATS, and all SuSI-eligible generation must be transferred to the NJ SREC-II Administrator through an irrevocable standing order, pursuant to (b) below.

(b) 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 SuSI-eligible facility. The irrevocable standing order will cause the automatic transfer of NJ SREC-IIs created by an eligible solar facility to a GATS account jointly held by the four EDCs (the EDC Joint GATS Account).

i. The irrevocable standing order, upon execution, shall require for that generator that, following the creation of the irrevocable standing order, 100 percent of the certificates created from each meter reading be automatically transferred to the EDC Joint GATS Account.

ii. An irrevocable standing order is not activated until the transferor confirms, and the NJ SREC-II Administrator accepts, the irrevocable standing order transfer.

iii. Prior to the execution of the irrevocable standing order, NJ SREC-IIs may be transferred manually from the account of a SuSI-eligible facility to the EDC Joint GATS Account. Following a grace period of one month subsequent to the establishment of a GATS Account for a SuSI-eligible facility, the NJ SREC-II Administrator may cease accepting manual NJ SREC-II transfers from a SuSI-eligible facility pending the execution of an irrevocable standing order.

2. Solar aggregators, brokers, and installers acting on behalf of solar facility owners may perform the role of transferor, register on behalf of the facility owner, and create an irrevocable standing order for each eligible facility for which it is reporting generation into GATS.

3. The NJ SREC-II Administrator will confirm that:

i. Each account holder created an irrevocable standing order;

ii. Each irrevocable standing order is complete, identifies the transferor, and represents 100 percent of all NJ SREC-IIs 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 NJ SREC-IIs has occurred.

4. Irrevocable standing orders authorizing transfers can only be terminated with the written consent of both parties.

(c) One NJ SREC-II shall be created for each megawatt-hour (MWh) of eligible electricity produced from a SuSI-eligible facility. A NJ SREC-II created for eligible electricity shall not be used for a purpose other than satisfying the SuSI Program carve-out to the NJ Class I requirements of the RPS.

(d) All solar electricity must be metered using an ANSI c-12 certified meter in conformance with N.J.A.C. 14:8-2.9(c).

(e) A NJ SREC-II may be redeemed in GATS in the energy year in which the electricity was produced or in the following energy year.

(f) Electricity generated by a SuSI-eligible facility that is not redeemed in GATS in the energy year in which the electricity was produced, or in the following year, shall not be eligible for a NJ SREC-II, but shall be eligible to create a New Jersey Class I REC.

N.J. Admin. Code § 14:8-11.8