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Subject: Incentive Alert – Competitive Solicitation for LRECs and Large and Medium ZRECs: Year 3 RFP Released April 24, 2014 For the third year running, Connecticut Light & Power (CL&P) and United Illuminating (UI) are seeking Renewable Energy Credits (RECs) from existing and proposed renewable energy systems, using a competitive bid process. One REC is created along with the generation of each MWh of qualified renewable energy. The program serves to procure 15-year fixed-price contracts for LRECs and ZRECs to help meet the state’s Renewable Portfolio Standard. The Year 3 Request for Proposals documents were released on April 24, 2014 and all bids are due by June 5, 2014. See below for more information. Contact us to find out if your Connecticut property is a good fit for this Incentive Program. Connecticut ZREC and LREC Long Term Contracts: • Competitive bid program for 15-year, fixed-price contracts • LRECs and ZRECs are Low and Zero Emissions RECs, respectively, from certified Class I Renewable Energy Facilities (most solar PV projects are qualified to produce higher-valued ZRECs) • Program funding is based on LREC versus ZREC generation and project size: o Medium ZREC projects are > 100 kW and < 250 kW DC (~$2.7M annual budget) o Large ZREC projects are ≥ 250 kW and ≤ 1,000 kW DC (~$2.7M annual budget) o LREC projects cannot exceed 2,000 kW DC (~$4M annual budget) • The system must be located in CL&P or UI service territory
• Note: Projects ≤ 100 kW will be offered long-term contracts at a later date, on a first-come/first-served basis, at a price indexed to the Medium ZREC auction results Key Requirements: • The bidder/applicant must demonstrate site control via the Bid Certification Form and attachments, including a signed affidavit from the owner of the project site • Project size, type (LREC vs. ZREC), technology, and bid price • Detailed Bidder and Counterparty Information • Performance Assurance payment equal to 20% of maximum annual contract value for LREC and Large ZREC projects; 10% for Medium ZREC projects Timing: Bid forms due June 5, 2014. Selection and notification of winning bidders is expected on or about July 17, 2014.
This Incentive Alert is provided for information purposes only and is not intended to modify or replace the information provided by the program administrators. It does not represent a guarantee of incentive availability or applicability to any specific property or project.
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