Massachusetts SREC Market
The Massachusetts Department of Energy Resources (DOER) recently approved an SREC market to begin in January 2010. The state will implement a solar carve out that establishes a requirement for solar in Massachusetts. In addition to that, the state will implement the MA Solar Credit Clearinghouse as a last resort, fixed-price auction in the last quarter of each year with a fixed price of $300 per SREC. This establishes a floor price for Massachusetts SRECs and allows project financers the comfort of knowing that they can expect at least $300 per SREC and as much as $600 depending on market conditions.
Eligibility: Only Massachusetts solar photovoltaic installations under 2 MW are eligible
Eligibility Period: No defined period of years in which a facility is eligible to generate and sell SRECs
Energy Year: January 1 to December 31
Tracking Platform: NE-GIS
SREC Useful Life: 2 years - a 2010 SREC can be counted towards either the 2010 or 2011 Renewable Portfolio Standards
Solar Requirement: Set at 30MW (0.0680% or 34,164 SRECs) in 2010. Each year the requirement will increase by 30% more than the previous year's increase. It will then be adjusted by the previous year's oversupply or shortage of SRECs. The total requirement in any given year is capped at 400MW and shall never decrease.
SACP: Set at $600 for 2010 and can be reduced by DOER by up to 10% each year. Suppliers with existing load contracts face a discounted $400 SACP. Meanwhile, the Solar Credit Clearinghouse Fixed-Price auction at year-end will establish a floor price of $300.
Energy Year
|
RPS Solar Requirement |
SACP |
| 2010 |
0.0680% |
$600 |
Useful Links:
Massachusetts Client Forms - All forms needed to sign up for SRECTrade's EasyREC service
New to Solar? - Getting Started - The nuts and bolts of getting started generating and selling SRECs
Massachusetts Blog - Starting point for useful information regarding the Massachusetts SREC market
MA Department of Energy Resources (DOER) - Details on the Solar RPS carve-out
DSIRE: Massachusetts RPS - Details on the Renewable Portfolio Standard
Other States:
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