Session One: Claiming State Funds for Energy Efficiency Projects
Presenter: Amanda Newman, New Jersey Clean Energy Program
[Find Amanda Newman’s Presentation Here]
Ongoing building maintenance is not free. Reaching your sustainability goals is not free. In an effort to encourage what you’re doing when it comes to energy efficient facilities, the NJ Board of Public Utilities administers the New Jersey’s Clean Energy Program to provide financial incentives to higher education facilities of all types and sizes. After this session you will have an understanding of how to access financial incentive funding for equipment replacement, renovation and new construction. These incentives assist with shortening the return on investment and lower monthly utility bills going forward. In addition, you will learn how to access our program staff for free guidance on how to ensure that you obtain the maximum incentives for your energy efficient project.
Session Two: The State’s Solar Energy Incentive
Presenter: Sebastian Jano, NextEra Energy Resources
[Find Sebastian Jano’s Presentation Here]
NextEra Energy Resources is excited to partner with NJHEPS to highlight the benefits of the newly announced solar Transition Incentive:
In December, New Jersey’s Board of Public Utilities (NJBPU) announced a TREC Transition Incentive, which will replace the current SREC program.
- The TREC Transition Incentive will open when solar accounts for 5.1% of the total kilowatt-hours sold in New Jersey and will remain open until the NJBPU adopts a successor REC program, which has yet to be determined. (The 5.1% milestone is expected to occur in the April-June timeframe.)
Unlike the current SREC program, the Transition Incentive is fixed, which eliminates uncertainty.
- For every megawatt-hour of electricity generated, the system owner is compensated with a fixed rate, for a 15 year period.
- This predictability of cash flows makes it easier to finance solar projects.
The savings are so great that it can result in power of $.01/kwh, or less, and leases in excess of $1 per square foot for certain customers.
- Stated simply, here’s how it works: a renewable energy firm installs a solar array on your rooftop at no charge and will provide nearly-free power or a lucrative lease payment.
The TREC Program may close as early as July, but we have successfully navigated the application process over 40 times in New Jersey and do not foresee any timeline issues if we move expeditiously. With nearly 60MW of operating solar assets in the state, we understand what partnering with the community and key stakeholders means and how that can vary from community to community.
About us: NextEra is the world’s largest generator of renewable energy from the wind and sun with more than 46 gigawatts of operating energy assets, a Fortune 200 Co (NYSE:NEE) and consistently voted one of the world’s most ethical companies. NextEra’s Regional Director of Origination, for the Mid-Atlantic and Southeast, will review this program and will be available in person to answer any questions.