After careful consideration SRECTrade has made the decision to no longer provide Approved Vendor services for new Adjustable Block Program (ABP) eligible projects. This decision was made due to the increasing complexity and cost of servicing new assets under the ABP.
SRECTrade will continue to provide services for applications that were successfully submitted to SRECTrade’s portal before the June 15, 2022 closure. This includes applications that were originally submitted to SRECTrade as non-energized. Understanding that these non-energized applications require the energization information and documentation, SRECTrade will enable Part II of its application for existing customers to allow the submission of these materials. SRECTrade will announce this reopening date once all final changes to the application process have been announced by the IPA and new program administrator.
SRECTrade remains committed to servicing all existing ABP customers throughout the duration of their 15 year REC contract. Most importantly SRECTrade will continue to make payments to projects scheduled to receive first time or quarterly payments and to work with customers to ensure their systems are meeting their contracted REC obligations.
SRECTrade would like to thank you for your patience and understanding during this transition. SRECTrade looks forward to serving its Designees and existing clients during the remainder of their participation in the ABP.
On Tuesday, August 2nd, SRECTrade announced that it has surpassed 1 gigawatt (GW) of assets under management.
“This scale demonstrates SRECTrade is the preeminent provider in ensuring clients earn a return on their renewable energy investments,” said SRECTrade Managing Director Janet Mihalyfi. “The gigawatt spans more than 65,000 assets and facilities, including solar, wind, and thermal energy projects. To put this in perspective, 1 GW is equivalent to the electricity usage of approximately 170,000 homes per year.”
SRECTrade is the leading management and transaction platform for Solar Renewable Energy Certificates (RECs) and clean transportation markets across North America. In California’s Low Carbon Fuel Standard (LCFS) program, SRECTrade is the largest independent manager of electric vehicle charging station carbon credits.
“Our expertise enables clients across a variety of complex markets and allows clean transportation, renewable energy, and other low carbon initiatives to be invested in with confidence,” said SRECTrade Managing Director Mike Saxton. “Reaching a carbon free future is possible with SRECTrade.”
“This achievement demonstrates SRECTrade’s leading capabilities across a variety of environmental commodity markets,” said Xpansiv CEO Joe Madden. “It is an integral part of our burgeoning environmental infrastructure.”
SRECTrade’s customers include competitive electricity and fuel suppliers, utilities, clean transportation fleet operators, renewable energy developers and installers, and commercial, industrial, and residential asset owners.
Download the May 2022 Clean Fuels Market Update to learn about the latest information on clean fuel programs, pricing trends, policy updates, grant programs, and related news. Highlights from this edition include:
On March 21, the Securities and Exchange Commision (SEC) proposed a rule change that would require public companies to disclose information about how they are measuring and managing climate risks.
The California LCFS market saw an increase in the credit bank of nearly 971k credits, the largest ever quarter over quarter increase.
Get the newest version of the SRECTrade LCFS Calculator app to estimate credit values through Oregon’s Clean Fuels Program (CFP) and California’s Low Carbon Fuel Standard (LCFS) program.
On May 16, 2022, the Illinois Power Agency (IPA) announced that subject to available capacity, currently open Small and Large Distributed Generation blocks will remain open until July 1, 2022. The Adjustable Block Program will then pause its acceptance of applications.
The Program Administrators will start accepting Part I applications on September 1st, and Part II applications by November 1st. Please note that the Part II application may reopen sooner than November if feasible.
You can find more information on the IPA’s decision here. Most notably, the Long-Term Plan is expected to be approved on July 14, 2022, and all applications submitted to the Program on or after September 1, 2022 will be subject to new or revised Program requirements outlined in the Long-Term Plan.
As a result of the Adjustable Block Program closing its application, SRECTrade has made the decision to temporarily shut down its own application on June 15, 2022, at 5 PM CT. SRECTrade cannot guarantee submission of applications to Part I or Part II prior to the Program’s July 1st close.
The closure of SRECTrade’s application will allow for SRECTrade to properly incorporate any required changes that arise with the passage of the Long-Term Plan. SRECTrade will announce the reopening date of its application once the changes have been confirmed and updates have been implemented.
SRECTrade believes that the closure of its application is the most efficient path to application submissions. The temporary closure will mitigate the need to retroactively collect information for applications that is not currently required but will become required after the passage of the Long-Term Plan.
On February 16, 2022, the Adjustable Block Program (ABP) issued an announcement stating that Demographic and Geographic Data will now be collected via the Part II application.
On February 25, 2022, SRECTrade made the announcement that its ABP application would be temporarily closed to energized projects to allow the appropriate changes to be made to our application so that it could collect the new Demographic and Geographic Data requirements.
SRECTrade’s application has now been updated, and is open to energized and non-energized applications.
The application requires the Demographic and Geographic Data for energized systems that are interconnected after September 15th, 2021.
On February 23rd, SRECTrade made the announcement that it would be temporarily closing its website to all ABP (Adjustable Block Program) submissions so that the appropriate changes can be made regarding the newly enacted demographic and geographic data requirements for Part II of the ABP application.
In hopes of mitigating the delay of Part I applications, effective immediately, SRECTrade’s application portal will allow applications to be submitted for non-energized projects until further notice. An update will be released regarding the reopening of SRECTrade’s application portal for energized projects in the near future.
On February 16, 2022, the Adjustable Block Program (ABP) issued an announcement stating that Demographic and Geographic data will now be collected via the Part II application.
Per the announcement, “The Part II application will ask Approved Vendors to provide the aggregate hours worked by employees and/or subcontractors in construction and installation of the project by 1) race, 2) ethnicity, 3) residential ZIP code of the worker, and 4) status as a graduate of a qualifying job training program.”
As a result, Part II submission of applications may be delayed as we work with our partners to collect this necessary information.
Projects exempt from needing to report this information include projects that were approved by the Illinois Commerce Commission prior to September 15, 2021 (the enactment of Public Act 102-0662), and/or projects for which construction was completed on or before September 15, 2021.
Lastly, SRECTrade is temporarily closing its website to all ABP submissions so that we can make the necessary changes to our application and allow for this data to be collected upfront.
The February 2022 Clean Fuels Market Update covers the latest information on clean fuel programs, pricing trends, policy updates, grant programs, and related news. Highlights from this edition include:
The California LCFS market saw an increase in the credit bank of nearly 433k credits, its largest credit increase since 2016
The Oregon Clean Fuels Program (CFP) pricing for Q4 2021 remained steady at approximately $125 per credit
New Mexico continues efforts to enact a Clean Fuel Standard
Contact SRECTrade at email@example.com or (415) 763-7732 to start generating revenue from your clean fuel assets.