The Annual Volume is determined on the basis of the system size and pre-determined capacity factors as provided in the RFP Rules. For existing systems (i.e., those systems that are energized as of June 1, 2016) the “Annual Volume” is a quantity of RECs that is the same for each of the five “Delivery Periods” (from June 1 of a year to May 31 of the next year). For new systems, a Bidder must specify with its Bid a “First Year Volume”, which is a quantity of RECs to be delivered in the first Delivery Period. For this First Year Volume, you may specify a number of RECs that is less than the Annual Volume including specify zero RECs. As such, while there is no exception to the 80% delivery requirement under the applicable supplier contract, with respect to new systems, the calculation of the annual quantity for RECs associated with the first Delivery Period may be less than the annual quantity with respect to each of the remaining Delivery Periods.
Second, the 80% delivery requirement is applied to RECs in the portfolio of systems in each of the large size product and small size product. This means that it is acceptable if in aggregate you deliver 80% of the Annual Quantity associated with systems collectively in a product, even if there are individual system(s) that fall short of delivering 80% of the expected quantity for the Delivery Period.