The Q4 2011 (October – December 2011 generation) MA SRECs were issued on April 15, 2012. Unlike other SREC markets, the MA Solar Carve-Out program mints SRECs quarterly, three and a half months after the close of the calendar quarter. In coordination with the Q4 2011 issuance, SRECTrade recently held a separate auction for MA2011 SRECs.
The auction order window closed on Monday, April 16th at 5:00 p.m. Eastern. SRECs transacted at a clearing price of $540.00 per SREC. The clearing price, more than 98% of the 2011 Solar Alternative Compliance Payment (SACP), represents a strong demand for MA2011 SRECs due to a shortfall of supply in the market.
The next SRECTrade Solar REC auction order window closes on Tuesday, May 1 at 5 p.m. ET. This auction will cover all of the PJM SREC markets including DC, DE, MD, NJ, OH, and PA. The order window is currently open. All buyers and self-serve sellers can login here to place an order. Sellers utilizing SRECTrade’s management service, EasyREC, will have orders automatically placed on their behalf. If these sellers need to make changes to their minimum offer prices, they must do so prior to the 5:00 p.m. close on May 1.
The next issuance of MA Eligible SRECs will be on July 15, 2012, and will cover the first quarter of 2012 eligible SRECs. The MA market continues to see a lot of installation and development activity, which has already put downward pressure on the price of 2012 vintage SRECs. Recent bid and offer activity in the over the counter markets has been at levels of approximately 50-65% of the 2012 $550 Solar Alternative Compliance Payment (SACP).