SPV-148: I am considering bidding RECs from solar systems energized prior to January 1, 2015 into the IPA’s procurement events. What are my options? As an aggregator, will I be the counterparty under the contract or will the counterparty be the system owner?

There are various procurement events as approved in the IPA’s procurement plans through which Solar Renewable Energy Credits (“SRECs”) are sold and purchased.  These include Supplemental Photovoltaic RFP (“SPV RFP”), the Utility Distributed Generation RFP (“DG RFP”) and the Renewable Energy Resources RFP (“REC RFP”).

To be eligible to be presented as part of the Proposal in the Supplemental Photovoltaic RFP (“SPV RFP”), a system must be “new”, which means that it must have been energized (turned on for a period of 24 consecutive hours) on or after January 21, 2015. If the systems that you are considering presenting as part of your Proposal were energized prior to this date, then this Proposal cannot be presented under the SPV RFP.

Systems energized prior to January 21, 2015 may be presented in a Proposal presented under the DG RFP. However, we note that under the DG RFP a bidder must present systems that together are at least 1 MW and the bidder (an aggregator) must be the signatory of the contract with the utility for any winning systems.

There are various criteria for participation in the Renewable Energy Resources RFP (“REC RFP”).  You may see these criteria from last year’s RFP here: These include agreeing to the terms of the applicable supplier contracts with the utilities and the submission of a letter of credit to support the bids. The REC RFP is strictly for the sale and purchase of RECs and does not involve presenting particular systems as part of the Proposal. The bidder is the single signatory of the contract with the utility.