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 less a 5% fee resulting in a floor price of $285.  This establishes a floor price for Massachusetts SRECs and gives project financers a minimum value they can expect per SREC, though prices could rise as high as $600 depending on market conditions.

Pricing:
SREC Auction - Auction closing prices history
MA Long Term Forwards Contracts - Information on long term contracts for MA SRECs
MA Prepaid SREC Forwards - Information on prepaid contracts for MA SRECs

Other states in which Massachusetts facilities are eligible:
Not eligible in any other states.

States Eligible for MA Market: 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 MA 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. The Solar Credit Clearinghouse Fixed-Price auction at year-end will establish a floor price of $300. Any unsold SRECs remaining will be given an additional year of eligibility and carried forward into the next energy year.  The DOER will increase the requirement to address this surplus.
Meter Readings: Facilities must report generation from revenue grade meters.
Eligibility Begins: Upon date of interconnection.

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