Fees and Bonding
- There will be an administration fee collected by the program administrator of $10/kW (AC).
- For example, a 10 kW AC would have a fee of $100. This fee is capped at $5,000 per system, so a 2 MW AC system would have a fee of $5,000. This is non-refundable, but will be transferable to the next block if the system doesn’t make it into the first block.
- There will be a 5% collateral requirement for all systems, how this collateral is held varies based on whether or not the system is energized, or not. Systems will be required to post collateral within 30 days of winning a contract in the program.
- An energized system will be able to withhold the 5% collateral from their SREC payments, or pay the collateral via cash or letter of credit if they prefer.
- A system that is not energized will only be able to pay the 5% collateral as a letter of credit, or cash.
- The system must be built within 12 months, else the system will lose its collateral (notwithstanding any extensions)
- Indefinite extension granted if the system is electrically complete but not approved to interconnect. Must submit application to interconnect within 30 days of electric completion.
- 6-month extension granted if there are legal or permitting delays.
- 6-month extension granted for $25/kW refundable fee.
System Information Requirements
Based on whether the system is being submitted as Energized or Pre-Energized System information requirements vary. Please note, submitting the system as energized and providing full information and documentation would allow the system to put up the 5% collateral from SREC payments. If not energized, the 5% collateral must be paid in cash or via a letter of credit.