Renewable Energy Committee Meeting Applied Energy Group, Inc. Solar Market Update Renewable Energy Committee Meeting August 22, 2016 Applied Energy Group, Inc. 317 George Street, Suite 305 New Brunswick, New Jersey 08901 Presenters: Mike Ambrosio, SVP Tammy Vanblarcom, Manager 1

Installation and Pipeline Reports for July were posted on August 18th Solar Reporting Update Installation and Pipeline Reports for July were posted on August 18th Monthly Reports have been added to the Solar Installation Report Installation Report-New Row Added Monthly installation numbers will be updated as additional PTO’s are reported 2016 w/PTO prior to 1/1/15-Registrations processed in 2016 with a PTO date prior to 1/1/2015 2

Installation Report Update 2001-2014: Data reported by Honeywell (HW) based on QA/QC date 2015-2016 QA/QC: Row includes those registrations processed by HW with a QC/QA date in 2015 and 2016, with PTO dated prior to 1/1/15. Those projects that had a PTO prior to 1/1/15, with a QA/QC date prior to 2015 are included in the 2001-2014 numbers “NEW” 2016 w/PTO prior to 1/1/15: This row includes those registrations processed in 2016 with a PTO date prior to 1/1/2015 2015-2016: Capacity based on PTO Estimated installations: final as-built packets received that have not yet been processed 3

Monthly Installation Report 4

Pipeline Report Update 5

Grid projects pipeline Report 6

Solar Reporting Update Target date for posting the Solar Installation and Pipeline Reports is the 15th of each month Equipment List for completed projects is scheduled to be posted on September 15th 7

SREC Trading Statistics Energy year 2016 Current SREC Trading Statistics Energy Year 2016 – through June 2016 For SRECs created from electricity produced during Energy Year 2016, June 1, 2015- May 31, 2016, or during Energy Years 2013, 2014 or 2015. SRECs eligible for use in NJ’s RPS have vintage established by the Solar Act of 2012 but may only be retired once. EY 2016 SACP= $323. Due to low trade volume, the July 2015 trades are reported with the pricing data from the previous Energy Year Note: Information reported prior to March 2016 based on historical reports PJM-GATS is currently developing the Cumulative Weighted Average Report which will be available on their website in the near future 8

SRP Program Operations Update 9

SRP Registration Submitted * March and April totals include the 4100 registrations that were withdrawn from the pending queue and re-submitted in the online portal 5302* 3306 3098 2653 2059 1808 10

SRP Acceptance Letter Issued 3985 2435 1676 1676 1286 SRP Registrations are issued SRP Acceptance letters within 2-3 days from date the registration is submitted 11

Completions NJ Certification Numbers Issued Completed YTD Totals 2015-8883 2016-8809 2847 1674 * 1713 (through 8/16) 1272 542 54 16th Final As Built Packets submitted through 6/24 have been processed 8 week timeline for processing NJ Certification Numbers Nearly up to date on entering PTO dates for (paper) Final As Built packets * August numbers are not included in YTD totals 12

Visit NJCleanEnergy.com Call (866) NJSMART For More Information   Visit NJCleanEnergy.com Call (866) NJSMART For the latest updates on program announcements or new incentives, subscribe to the NJ Clean Energy Program E-Newsletter at: NJCleanEnergy.com.