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PSE&GRenewable Energy ProgramsSusanna ChiuDirector - Business Development1
Advantages of Solar EnergyEnergy Independence.Solar energy is renewable. We never have to worryabout running out of sunlight or using it all up.Solar energy is environmentally friendly, no emissions.Solar panels are extremely reliable. There are nomoving parts so you don't have to worry aboutreplacing anything.Solar cells make no noise while collecting energy.Solar isn’t subjected to the price volatility of otherenergy sources.State law requires 3% of energy to begenerated from solar by 20212
PSE&GRenewable Energy InitiativesSolar 4 All. PSE&G is investing 515MM to construct, own andoperate 80MW in solarinstallations.- Centralized Solar- Neighborhood SolarSolar Loans. PSE&G isoffering 250MM in loansto finance solar systeminstallations (totaling81MW) on homes,businesses, municipalbuildings.3
Centralized SolarIndustrial BrownfieldsLinden SolarFarm (3.2MW)on PSE&G’s 5.4acre brownfieldsite.4
Neighborhood Solar A total of 40MW beinginstalled in every PSE&Gelectric service town. Connected directly tosame electrical grid ashomeowners These smart solar unitsare made in New JerseyMore than 90,000 smart solar(Petra Solar)units installed to date in over150 NJ towns5
What can you and I do?6
First Things FirstConservation and EfficiencyGenerate Your Own EnergyRenewablesEfficiencyConservationQuick PaybackBehavior Change7
But I heard solar systems cost a lot of money?Learn how thesehomeowners wereable to afford solar.8
What are the financial benefits from a solar system?Two financial benefits from one solar system- Electricity (which reduces your energy bill)- Solar Renewable Energy Credits (SRECs)9
What is “net metering”?Net Metering measures household energy usageCustomers use the electricity from their solar systemMeasures electricity being used from the Grid(meter spins “forward”)Measures Electricity going out to the Grid (meterspins “backward”)A system cannot be sized to generate more electricitythan you use in a one year periodThe Net Meter Determines theAmount of Your Bill10
What is a Solar Renewable EnergyCertificate (SREC)?CongratulationsYour solar systemhas generated1000 kwhof clean solar power1 SRECClean energy creditissued as a tradablecertificate by NJ Board ofPublic UtilitiesGenerating companiesselling power into NJmust generate % of solarpower or purchaseSRECsSolar systems produceSRECs for 15 years11
For Residentials:Home solar: now easier and very affordablewith PSE&G Home Solar Loan 50 to 60% oftotal installedcost is loanedPay over10 yearswith cashOR“SRECs”Tax credits(30%) areavailableProgram is simple, safe, smart12
PSE&G Solar Loan II ProgramProvides loans for residential solarprojects in PSE&G electric territory6.5% for a 10 year LoanLoans are repaid with SRECS,and PSE&G provides aminimum price guarantee forthose SRECs.Over last three years, pricesvaried from 200 to 600 perSREC13
PSE&G Solar Loan II ProgramWe take SREC risk out of thesolar equation, giving yousecurity and peace of mind.Market prices of SRECsfluctuate with supply anddemand.No other loan lessens yourexposure to the SREC market.14
Eliminate SREC Price RiskFloor prices are locked in based when you apply Apply by June 30, 2011: your guaranteed floor price is 420 Apply between July 1, 2011 - December 31, 2011: yourguaranteed floor price is 400For example: If you applied for a loan in March 2011, your floor price is 420for the 10 year loan term If you apply for the loan in July 2011, your floor price is 400 for the 10 year loan term15
What is the cost to a residential customer?NOTE: PSE&G does not provide tax advice. The example below is strictlyfor illustrative purposes.System Size:7 kWSystem Cost: 45,500Tax CreditSystem Cost (After ITC)PSE&G could loan (net of admin fee)- 13,65031,850- 22,972 8,878 customer out of pocketElectricity cost savings .16kWh - 1,276End of Yr 1 out of pocket 7,602With a Solar Loan, pay back approach is SMART *Designed to pay itself off with SRECs generated16
Application processEngage a Solar Installer Get three estimatesApplication Submittal Applicant with solar installer’s assistanceApplication Review PSE&G reviews loan package, notifies applicant/installer of deficiencies if anyCredit and Interconnection Review conductedExperian FICO score of 680 required, good payment history with PSE&GLoan Approval PSE&G issues a Commitment LetterBorrower has 30 days to signInstallation and Inspections Installer builds system and orders State and Municipal inspectionsInstaller coordinates meter installation with PSE&GInstaller drives SREC certification (and rebates)Pre-Closing Due Diligence Title report run, 1st lien status on equipment established by PSE&GInsuranceSubordinations as requiredFinancial Closing17
For more y.com/whysolaror call/email us:Patti Regan Taylor Joe 18
Solar panels are extremely reliable. There are no moving parts so you don't have to worry about replacing anything. Solar cells make no noise while collecting energy. Solar isn’t subjected to the price volatility of oth
