Section 48:3-118 - Requirements for solar electric power generation facilities receiving SREC-II grantsa. No solar electric power generation facility shall simultaneously receive SREC-IIs pursuant to P.L. 2021, c. 169(C.48:3-114 et al.) and Class I RECs, SRECs, or any other comparable certificates, including those issued under a program developed by the board pursuant to P.L. 2018, c. 17(C.48:3-87.8 et al.).b. A solar electric power generation facility that receives an SREC-II pursuant to P.L. 2021, c. 169(C.48:3-114 et al.) for a unit of energy produced shall not otherwise sell, alienate, or dispose of any of the environmental benefits or attributes associated with that energy.c. A solar electric power generation facility that is selected by the board pursuant to section 4 of P.L. 2021, c. 169(C.48:3-117) shall be responsible for the payment of: (1) an annual remuneration of one percent of the renewable energy incentive payments pursuant to paragraph (4) of subsection c. of section 4 of P.L. 2021, c. 169(C.48:3-117), to be submitted to the State Treasurer for deposit into the "Preserve New Jersey Fund Account," established pursuant to section 4 of P.L. 2016, c. 12(C.13:8C-46); and(2) an annual administrative fee, in an amount to be determined by the board in the rules and regulations adopted by the board pursuant to section 2 of P.L. 2021, c. 169(C.48:3-115).d. Each worker employed in the State during the construction of a solar electric power generation facility greater than one megawatt in size, as measured in direct current, that participates in the SREC-II program shall be paid not less than the prevailing wage rate for the worker's craft or trade, as determined by the Commissioner of Labor and Workforce Development pursuant to P.L. 1963, c.150 (C.34:11-56.25 et seq.).e. The issuance of SREC-IIs pursuant to P.L. 2021, c. 169(C.48:3-114 et al.) shall be deemed "Board of Public Utilities financial assistance" as provided under section 1 of P.L. 2009, c. 89(C.48:2-29.47).f. The owner of a solar electric power generation facility that participates in the SREC-II program shall obtain all necessary permits and other approvals as may be required pursuant to federal, State, or local law, rule, regulation, or ordinance.g. A solar electric power generation facility that is selected pursuant to section 4 of P.L. 2021, c. 169(C.48:3-117) shall comply with the standards concerning vegetation adopted by the Department of Environmental Protection pursuant to section 8 of P.L. 2021, c. 169(C.13:1B-15.178).Added by L. 2021, c. 169, s. 5, eff. 7/9/2021.