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Monday, June 19, 2006
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ACUA sells first group of Solar Renewable
Energy Credits
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For Immediate Release:
For More Information Contact: June 19, 2006 Katie Vesey, 272-6950
ACUA successfully sells first group of Solar Renewable Energy Credits
The Atlantic County Utilities Authority successfully sold its first
group of Solar Renewable Energy Credits (SRECs) resulting in $32,000 of
revenue to the Authority. SRECs are the environmental attributes
associated with the generation of renewable energy. When renewable
electricity is generated there are two marketable products: the first is
the electricity and the second is the renewable energy credit. The
Authority uses all of the electricity produced by the solar system to
operate their wastewater treatment plant. The related SRECs are sold.
“The rebate provided by the New Jersey Board of Public Utilities
supporting the construction of this project and the revenue derived from
the sale of renewable energy certificates makes this solar project
favorable from a financial standpoint,” said Rick Dovey, ACUA
President.
The Authority’s solar system generated 135,000 kilowatts of
electricity through May 31, 2006, the end of the energy reporting year.
This energy created 135 SRECs that were sold to PSEG Energy Resources
& Trade LLC (PSEG ER&T) for $237.65 each, for a total of more
than $32,000. PSEG ER&T, like all energy load serving entities, is
required to comply with New Jersey’s Renewable Portfolio Standards (RPS).
The purchase of RECs complies with the requirement that certain
percentages of supply portfolios come from renewable resources.
The Authority anticipates more than 600 SRECs to be generated for the
next energy year that spans from June 1, 2006 to May 31, 2007.
The ACUA’s 500 kW solar generation system includes approximately 2,700
solar electric panels at five locations at the Wastewater Treatment
Facility in Atlantic City. The system is made of two ground-mount
arrays, two-roof mounted arrays and one canopy array. The second and
final phase of the project was recently completed this past May.
For more information please visit www.acua.com.
http://www.acua.com/about/pressrelease1.cfm?id=127
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