Included within the statutes defining Nevada's Renewable Portfolio Standard is a provision (NRS 704.7821) that authorizes the creation of a system of portfolio energy credits (PECs). This system allows renewable energy producers to earn and sell PECs to electric utilities that are required to meet Nevada's Renewable Portfolio Standard. This system of earning and selling portfolio credits, called the PEC Trading Program, is administered by the PUCN.
One PEC represents one kilowatt-hour of electricity generated, with the exception of certain photovoltaic systems (PV), for which 2.4 PECs are credited for each kilowatt-hour generated. Customer-maintained distributed renewable energy systems receive a 0.05 adder for each kilowatt-hour generated. For example, a distributed PV system that is also customer maintained would be credited 2.45 for each kilowatt-hour generated. Energy efficiency resources receive a multiplier of 1.05 in some instances, and a multiplier of 2.0 if they save electricity during periods of peak utility load. Solar thermal energy systems are credited with 1 kilowatt-hour of electricity for each 3,412 British thermal units of heat generated. Finally, each kilowatt-hour of electricity generated by eligible waste tire facilities is credited at 0.7.
Please note: Multipliers apply only to PV systems installed on or before December 31, 2015, per the regulations adopted pursuant to Docket No. 13-06020, LCB File No. R053-15.
Eligible Renewable Energy Systems
Persons who install renewable energy systems without the benefit of the rebates provided by a Nevada renewable energy incentive program are eligible to participate in the PEC Trading Program. Owners of renewable energy systems who have received a rebate through a renewable energy incentive program are not eligible to participate in the PEC Trading Program because they do not retain the PECs associated with their electricity generation. However, if a customer installs a separate system at a later date without participating in an incentive program, the customer is eligible for the PEC Trading Program for the new system if the new system is metered separately from the system that was installed through participation in an incentive program.
Participating in the PEC Trading Program
In order to participate, owners of renewable energy systems must register their systems with the PUCN. To register a system, a system owner must complete the PUCN's PEC Application for Residential & Small Business Producers (PDF) or Commercial Portfolio Energy Credit Application (PDF) and return it to the PUCN via the U.S. Postal Service or the PUCN's online PEC application upload system.
The PUCN will only accept FULLY COMPLETED PEC APPLICATIONS PREPARED ON THE FORM WITH THE MOST RECENT REVISION DATE. The current revision date is July 2015.
Renewable energy production is tracked and credits are issued and traded within
a web based tracking system. Credits issued through www.nvtrec.com and www.wecc.org/WREGIS/Pages/Default.aspx are the only
credits accepted toward the Nevada Renewable Portfolio Standard.