- [SREC Blog] Senators Introduce Renewable Electricity Standard http://bit.ly/95K2Ah #
- [SREC Blog] CA 33% Renewable Target Onward! http://bit.ly/cZUX0N #
- [SREC Blog] Important New York SREC Update http://bit.ly/9Jwu5A #
Good news for New York solar owners: SRECTrade was recently notified by the DC Public Service Commission that they are now accepting SRECs from facilities located in the state of New York. We initially wrote about this several months ago and submitted applications that were subsequently rejected due to an inconsistency in the DC rules. This inconsistency has been fixed and New York facilities can now be approved. In order to apply, your facility must be eligible to claim ownership for the SRECs that are generated (NYSERDA claims ownership of SRECs created by facilities funded by the program for a period of 3 years, after which the owner is eligible to generate and sell SRECs).
The bad news… act soon: Per the rules of the DC SREC programs, facilities are able to receive credit for generation dating back to the first month of the current energy year. In order to receive credit for generation in 2010, all applications should be submitted to the DC Public Service Commission as quickly as possible so that the Commission has ample time to approve your facility by December 31st. Receiving approval by December 31st will allow your facility to be credited with SRECs as far back as January 1st, 2010.
Due to this time constraint, SRECTrade recommends owners submit applications directly to the DC Public Service Commission. The DC registration process requires an original and notarized application mailed directly to the DC Public Service Commission. Once approved, you can then apply for the EasyREC program.
Instructions for submitting an application to the DC SREC Program:
1. Download and complete the DC RPS Application.
2. Once you have completed the application and had the affidavit of general compliance notarized, mail the original to:
Public Service Commission of the District of Columbia
1333 H Street, N.W
2nd Floor West Tower
Washington, D.C. 20005
Cautionary comment on the DC SREC Market: The DC SREC market is a relatively small market. Although SRECs are currently selling around $300, the market may soon be over-subscribed. This is due to the significant supply that can be drawn from several states across the region. In addition, DC allows solar thermal facilities to count generation towards the SREC requirement. For these reasons, buyers in the DC SREC market will eventually be able to meet their requirements with ease, which would lead to a potential significant drop in pricing. The states eligible for the DC market include:
At the end of September, the California Air Resources Board (CARB) voted unanimously to approve a measure that would require entities delivering power to the state to acquire one-third of their power from renewable resources.
This measure is different than the existing 20% target in that it covers both investor-owned utilities and publicly owned utilities. The existing RPS comes under the jurisdiction of the California Public Utilities Commission (CPUC) while the CARB has a more far reaching mandate to regulated GHG emissions under A.B. 32.
Earlier in the month, the state legislature was unable to pass the 33% renewable portfolio standard into law. A spokeswoman for the governor’s office commented that the CARB’s approval carries the same legal weight as a bill passed by the legislature and signed by the governor.
CARB stated that the target is forecast to reduce greenhouse gas emissions by 12-13 million metric tons of carbon dioxide per year by 2020. In addition to the environmental impacts, the CARB and Governor Schwarzenegger expect the measure to incentivize and attract more clean energy project development to California. The California Energy Commission (CEC) recently approved a 392 megawatt solar thermal power plant to be constructed by BrightSource Energy LLC. Other projects are hurrying to receive approvals before the end of the year when federal stimulus incentives expire.
CARB, CPUC, CEC and CA’s independent system operator will all work closely to help implement the new standard. The measure targets a phased approach with 20% by 2012, 24% by 2017, 28% by 2019, and 33% by 2020.
At the end of September, Senators Jeff Bingaman, Sam Brownback, Byron Dorgan, Susan Collins, Tom Udall, and Mark Udall introduced a Renewable Electricity Standard (RES). The bill will require electricity generators to acquire specific percentages of electricity supplied to customers from renewable energy sources.
Senator Bingaman commented, “I think that the votes are present in the Senate to pass a renewable electricity standard. I think that they are present in the House. I think that we need to get on with figuring out what we can pass and move forward.”
The legislation proposes the following targets to be met from either renewable energy resources or energy efficiency improvements:
YEAR __ %
Eligible renewable energy resources will include wind, solar, ocean, geothermal, biomass, landfill gas, incremental hydropower, hydrokinetic, new hydropower at existing dams and waste-to-energy. Energy providers can comply with the RES by producing renewable energy, implementing energy efficiency measures, purchasing renewable energy or energy efficiency savings, purchasing renewable energy credits or energy efficiency credits, or paying an alternative compliance payment (ACP) at a rate of $21/MWh. The national RES program will not affect state programs.