Annual REC Cap definition

Annual REC Cap. An amount of Tier-1 RECs equal to the product of (x) the Bid Quantity and
Annual REC Cap. An amount of RECs equal to the product of the Bid Quantity and one and two-tenths (1.2), rounded down to the nearest whole REC. The Annual REC Cap shall be as stated in Schedule 1 of this Agreement. Seller will retain ownership and all rights to RECs that exceed the Annual REC Cap.
Annual REC Cap. An amount of RECs equal to the product of the Bid Quantity and one and two-tenths (1.2), rounded down to the nearest whole REC. The Annual REC Cap under this Agreement shall be RECs. Seller will retain ownership and all rights to RECs that exceed the Annual REC Cap. Article 10: Article 10 of the New York State Public Service Law provides for the siting review of new or modified major electric generating facilities in New York State by the Board on Electric Generation Siting and the Environment (Siting Board) in a unified proceeding for the application of numerous state and local permits. See NYS Public Service Law §§ 160, et seq.

Examples of Annual REC Cap in a sentence

  • NYSERDA will not pay for Tier-1 RECs beyond the Annual REC Cap for any Contract Year.

Related to Annual REC Cap