Mainstay Energy Rewards Program - Green Tag Purchase Program (New Jersey)
Last modified on May 23, 2011.
Financial Incentive Program
|Name||Mainstay Energy Rewards Program - Green Tag Purchase Program|
|Incentive Type||Performance-Based Incentive|
|Applicable Sector||Commercial, Residential|
|Eligible Technologies||Solar Thermal Electric, Photovoltaics, Wind, Biomass, Geothermal Electric, Small Hydroelectric, Renewable Fuels|
|Implementing Sector||Private Organization|
|Energy Category||Renewable Energy Incentive Programs|
|Amount||0.27 - 9.5 cents/kWh; varies by technology, payment plan, and contract length|
|Terms||Any size system, grid tied, new renewable (1/1/99 or later)|
|Program Administrator||Mainstay Energy|
Mainstay Energy is a private company offering customers who install, or have installed, renewable energy systems the opportunity to sell the green tags (also known as renewable energy credits, or RECs) associated with the energy generated by these systems. These green tags will be brought to market as Green-e* certified products. Eligible technologies include solar PV, wind, biomass, geothermal electric, and hydroelectric.
Through the Mainstay Energy Rewards Program, participating customers in New Jersey receive either quarterly production-based payments, or an up-front payment. The amount of the incentive is based on the type of renewable energy technology, the production of electricity by that system (or size, in the case of the up-front payment), and the length of the contract period. Mainstay offers 3-, 5-, and 10-year purchase contracts. The longer the contract period, the greater the incentive payment.
New Jersey customers with solar PV or wind installations may choose to receive payments via one of three options:
(1.) Market Price Rewards: A payment for the entire output of the site at a price per kWh which varies according to the market for green tags in the region. Note that the payment for Mainstay Market Price Rewards are based upon the pricing in the marketplace and may vary over time. At current prices, the incentives for different contract periods are as follows:
Solar PV 3-year: 7.3 cents/kWh 5-year: 8.0 cents/kWh 10-year: 9.5 cents/kWh
Wind 3-year: 0.27 cents/kWh 5-year: 0.30 cents/kWh 10-year: 0.36 cents/kWh
(2.) Fixed Price Rewards: A guaranteed price for all the green tags from a site for each kWh of production. The production-based incentives for the different contract lengths are as follows:
Solar PV 3-year: 5.3 cents/kWh 5-year: 5.1 cents/kWh 10-year: 4.7 cents/kWh
Wind 3-year: 0.30 cents/kWh 5-year: 0.31 cents/kWh 10-year: 0.33 cents/kWh
(3.) Up-Front Rewards: An up-front payment for all green tags from a site based upon the capacity of the installation. Incentives for the different contract lengths are as follows:
Solar PV 3-year: $182/kW 5-year: $224/kW 10-year: $252/kW
Wind 3-year: $16/kW 5-year: $20/kW 10-year: $22/kW
There is a $100 Certification Fee to get started with Mainstay Rewards. This fee does not need to be paid in cash; the fee may be paid with future green tag sales. However, this fee is generally waived for participants who opt for the 10-year contract.
The requirements are:
1. The system must be grid-connected, but does not need to be a net "exporter" of electricity; 2. This incentive is available in addition to any net metering agreement with the utility; 3. The system owner must still have title to the green tags, or renewable energy credits. They cannot have been sold or transferred to any other entity; 4. The system must be a new renewable, which in most states means powered up on or after 1/1/1999. This date is different in some states, see the Mainstay Energy web site for exceptions; 5. The system generation must be metered separately for any systems over 10kW. For systems under 10kW, separate metering is not necessary. Payments are made based on estimated production.
Biomass, geothermal electric, and hydroelectric installations are also eligible for Mainstay Energy Reward payments. Call Mainstay Energy at 1-877-GREENTAG for a customized quote.
Mainstay Energy is the first company in the U.S. to purchase green tags from small-scale renewable producers on a national scale. The Mainstay Rewards Program currently has about 200 participants -- both commercial and residential.
|Contact Name||John King|
|Address||161 E. Chicago Ave.|
|Address 2||Suite 41B|
- Incentive and policy data are reviewed and approved by the N.C. Solar Center's DSIRE project staff.