Examples of Tier 1 RECs in a sentence
In order to satisfy the terms of this contract, RECs must be purchased fromNY.TOS.E_2.12.2021 eligible renewable generators through NYGATS; by purchasing Tier 1 RECs from NYSERDA; by procuring RECs from eligible renewable generators through bilateral contracts; by entering into bundled energy and REC purchase agreements with eligible renewable generators; or by making Alternative Compliance Payments to NYSERDA.
In order to satisfy the terms of this contract, RECs must be purchased from eligible renewable generators through NYGATS; by purchasing Tier 1 RECs from NYSERDA; by procuring RECs from eligible renewable generators through bilateral contracts; by entering into bundled energy and REC purchase agreements with eligible renewable generators; or by making Alternative Compliance Payments to NYSERDA.
In addition to the annual contribution of 913,845 ORECs and 455,482 ORECs from the US Wind and the Skipjack OSW projects, respectively, it is possible that the proposed OSW projects could generate additional Tier 1 RECs (associated with generation in excess of the amount incentivized through this Order),210 Van Beek Direct at 6.211 PUA § 7-703(b).212 PUA § 7-703(d)(1)(xiii); COMAR 20.61.06.03.B(1)(a)(xii).
Any RECs sold under a PPA or REC-only contract will only be purchased by the applicable EDC to the extent that those RECs conform to the eligibility criteria for Tier 1 RECs in the RPS program applicable to the EDC’s state.
In the absence of regulations or legislation concerning carbon credits and directly affecting BPA, BPA intends to convey the value of any future Available Carbon Credits to «Customer Name» on a pro rata basis in the same manner as described for Available Tier 1 RECs and Tier 2 RECs in sections 3 and 4 of this exhibit.
An Eligible Bidder bidding to sell Incremental Qualified Clean Energy and/or Tier 1 RECs through a PPA must propose separate prices on a dollar per megawatt-hour ($/MWh) basis for Qualified Clean Energy and/or on a dollar per REC ($/REC) basis for RECs, and a price schedule that conforms with Section 2.2.12.
Per the CES Modification Order, NYSERDA is authorized to procure approximately 4.5 million Tier 1 RECs annually through 2026, and therefore has set a non-binding procurement target of 4.5 million Tier 1 RECs for RESRFP22-1.
NYSERDA Contracted Tier 1 RECs versus Tier 1 REC Obligation 16Figure 8.
Tier 1 RECs will only be issued for the portion of generation deemed eligible.
Pursuant to the Orders, NYSERDA seeks to accomplish the RES objective by contracting with suppliers, through a series of competitive RFPs, for the RES Tier 1 RECs created by eligible generation resources.7 Information regarding current NYSERDA’s implementation of the RES can be found on NYSERDA’s CES website8.