Ahh. Your program works differently from ours. We got a loan from the power company against ten years' projected SREC production. At the time, SRECs were trading at over $600. It looked on paper like we were getting hosed when we locked in at $425/SREC, but we knew that NJ was about to cross some magic amount of renewable energy production, which would eliminate a whole class of fees the utilities had to pay to the state. The line was crossed a couple months after we went online, and now SRECs are trading at less than $100 but we're still earning $425 each against the loan. Oh, and we're also producing more than the projections, so we're paying the loan off faster, too.
Also, someone asked whether this would have worked without taxpayer dollars. The answer is yes, but it would have taken a good bit longer to get in the black. The state tax credit program expired before we built. We did, however, get a 30% federal tax credit. That's the only taxpayer money involved, since we got the loan from the (private) utility company, and paid the rest out of pocket.
Honestly, though, our thinking was that even if it ddn't entirely pay for itself, we'd rather spend money on renewables than send it to Saudi Arabia.