PSE&G must charge certain fees in association with the Solar Loan Program for Businesses.
Applicants and participants in the PSE&G Solar Loan Program can expect to pay the following fees:
Application Fee — $20/kW (maximum of $7,500); non-refundable upon receipt of conditional bid award
Administration Fee — $85/kW; deducted from the loan proceeds at closing
Solar Renewal Energy Credit (SREC) Processing Fee — $16.11/SREC* to offset the long-term cost of processing and managing SRECs generated by the solar generation facility; the fee will be billed at the time of the borrower’s annual true-up and multiplied by the number of SRECs generated by the project over the previous year.
Participants should select a bid price that takes this fee structure into account.
All fees will be incorporated into the loan calculators available on the PSE&G Solar Loan website.
*Adjusted annually based on PSE&G program cost forecasts.