Archive for June, 2019

LCFS Pricing Update: Market Continues to Gain

Posted June 12th, 2019 by SRECTrade.

As per data released by the California Air Resources Board (CARB) on June 11th, the Low Carbon Fuel Standard (LCFS) market continued its upward price trend this past week, increasing to a weighted average weekly price of $188.84. This is up $1.78 from last week’s average price of $187.06 and the sixth straight week we have seen an uptick in LCFS pricing. The market also saw a jump in volume this past week with 325,708 credits transferred, up from last week’s volume of 106,031 and the last twelve month (LTM) weekly average of 243,077.

In recent weeks, we have also seen a decrease in daily price variance over a given week. This indicates a more uniformly priced market and perhaps a steadier volume of credits transacted on a daily basis.

Please click on the pricing chart below for a visualization of LTM trends.

Data Source: California Air Resources Board (CARB)

SRECTrade Speaking at CALSTART Event in Fresno, CA

Posted June 10th, 2019 by SRECTrade.

On June 13th, Yaniv Lewis, an Environmental Markets Associate at SRECTrade, is speaking at a Voice of the Customer Event hosted by CALSTART, a non-profit in the clean transportation industry. The event, which will be a discussion on Medium and Heavy-Duty Electric Step Vans, will take place at the Clovis Veterans Memorial District in Clovis, CA from 10:00 AM – 2:00 PM.

Yaniv will speak on the Low Carbon Fuel Standard (LCFS) market, a state incentive that encourages the uptake of low carbon intensive vehicles. SRECTrade provides its services to participants across the LCFS market, providing credit portfolio management and brokerage services to clean fuel asset owners and credit generators.

Learn more about the event here and register for free here.

Maryland SREC Market Update

Posted June 10th, 2019 by SRECTrade.

On May 22nd, 2019, Maryland Governor Larry Hogan announced his decision to let the Maryland Clean Energy Jobs Act pass without his signature. The Act increases Maryland’s Renewable Portfolio Standard to an aggressive 50% by 2030. Additionally, the solar carve out target increased to 14.5% by 2028 and the Solar Alternative Compliance Penalty (SACP) was adjusted to $100.00 in 2019 and 2020, and decreasing each year thereafter. In response to these anticipated, and now enacted, legislative changes, the SREC market in Maryland has experienced a significant upward swing from $11.00 to $65.00 since the beginning of 2019.

Electricity load that was signed under contract prior to the bill’s effective date of October 1, 2019, is not subject to the new compliance obligations. Our calculations assume that approximately 80% of the 2019 electricity load is under prior contract and therefore exempt, with 25% of that exempt load rolling into the new compliance obligations each year moving forward.

Solar build rates have been trending downwards over the last six months in comparison to the last twelve months. Assuming no drastic decrease in build rate, we expect the market to be oversupplied in 2019, and undersupplied each year thereafter. The enclosed analysis further details the implications of the Maryland Clean Energy Jobs Act and the potential responses from the MD SREC market.

SRECTrade Implements HelioScope Integration As Latest Technology Solution

Posted June 3rd, 2019 by SRECTrade.

SRECTrade is excited to announce its new HelioScope integration, allowing users to seamlessly transfer data between the online platforms. This new feature provides SRECTrade applicants with the ability to import project details from HelioScope to prefill fields in the SRECTrade project application. The integration will save time for SRECTrade’s partners and reduce the chance of error during the renewable energy credit (REC) application process.

To import HelioScope project details, a HelioScope user needs to obtain an API Token and connect it with their SRECTrade account. This will allow the user to utilize the information stored in HelioScope to populate REC application fields such as facility type, owner details, array setup, and more. For more specific instructions on how to utilize the HelioScope integration, please email installers@srectrade.com.

The HelioScope integration is the latest chapter in SRECTrade’s history of REC management and transaction innovation. Other recent technology advancements by SRECTrade include partnerships with eGauge and Fronius to allow solar owners using these inverter and meter products to automatically report their production to PJM-GATS, the REC tracking registry for much of the Midwest and Mid-Atlantic.

SRECTrade is always working toward automating the onboarding and management of assets in environmental commodity markets. For more information on technology integrations and partnerships, please reach out to clientservices@srectrade.com.

A copy of the full press release can be found here.