DG-41: What occurs if a system is awarded a contract, but due to some unforeseen delay the system does not generate 1 REC by May 31st for delivery to the utility by July 15th? Is there an extension process? Is the contract cancelled and the entirety of the letter of credit forfeited?

There is no extension process under the DG RFP.  If a system does not deliver one REC on or before July 15, 2016, the contract is not cancelled.  Rather, such system will be removed from the applicable supplier contract and the amount of RECs under contract correspondingly reduced.  The IPA may draw upon the Letter of Credit, not necessarily for its entirety, but rather for the amount of RECs to be delivered by the system times $8/REC.