SPV-151: The SRECs from a system are calculated based upon the Maximum Contract Quantity, which uses capacity factor of 14.38%. If our capacity factor exceeds 14.38%, can we bid all the SRECs associated with our system and have that number of RECs be our contract quantity?

No. As you point out and as explained in Paragraph I.4.9 of the SPV RFP Rules, the Maximum Contract Quantity of RECs to be delivered under the SPV Contract is determined by the winning system’s size and assumes a capacity factor 14.38%. This calculation is the same for all systems with no deviations. Additionally, please note that in the Part 1 Proposal, a Seller must certify that the size of the system is a reasonable estimate of the DC capacity output of the system and that such estimate is based on the equipment that is or will be installed, and the manufacturer’s specifications.

The IPA, the Buyer under the SPV Contract, may, but is not required to, offer to purchase, RECs from the system in excess of the Maximum Contract Quantity. The Seller may, but is not required to, sell to the Buyer RECs in excess of the Maximum Contract Quantity at the winning bid price for the system.