Archive for the ‘SREC Markets’ Category

Adjustable Block Program – SRECTrade no longer serving as an Approved Vendor

Posted August 10th, 2022 by SRECTrade.

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.

SRECTrade Passes 1 GW of Clean Energy Assets under Management

Posted August 4th, 2022 by SRECTrade.

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.

Adjustable Block Program – Temporary Closure of SRECTrade Application

Posted May 23rd, 2022 by SRECTrade.

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. 

Adjustable Block Program – Group A Large Distributed Generation (DG) Block 5 Closed

Posted March 30th, 2022 by SRECTrade.

Group A Large DG Block 5 closed on March 29, 2022 at 11:59 PM CT. Any Group A Large DG applications that were Part I submitted and batched prior to the closure were placed in Block 5. 

Group A Large DG applications Part I submitted and batched will now be added to the waitlist. Applications can be selected off of the waitlist as other applications withdraw and open capacity.

The addition of future blocks is dependent on the passage of the 2022 Long-Term Renewable Resources Procurement Plan.

Adjustable Block Program – Opening of SRECTrade’s Application for Energized Projects – Demographic and Geographic Data Now Required 

Posted March 16th, 2022 by SRECTrade.

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.  

Adjustable Block Program – Opening of SRECTrade’s Application for Non-energized Projects

Posted February 25th, 2022 by SRECTrade.

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.

Adjustable Block Program – Collection of Demographic and Geographic Data Now Required

Posted February 23rd, 2022 by SRECTrade.

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.

SRECTrade Expands 3G replacement program to include SolarEdge in PJM Markets

Posted February 9th, 2022 by SRECTrade.

Providers are starting to  phase out their support of more than 22 million 3G communications devices—including critical equipment your solar system uses to measure, record, and communicate production data.

As a result of this phaseout, these modems/meters will fall out of compliance for the minting of RECs and receipt of payments to solar system owners.

To prevent this sunset from impacting you, SRECTrade has partnered with 365 Pronto to remove and dispose of old 3G modems or meters and replace them with new 4G/5G modems or meters that follow the regulations and network communications needed for verified REC payments to system owners.

System owners who choose not to upgrade could soon stop receiving REC payments, negatively impacting their expected return on investment from their solar installation(s).

Pricing, Payment, and Rollout

System owners are responsible for the cost of this replacement equipment and related labor. SRECTrade is committed to helping our customers keep costs low, so we have negotiated preferred pricing with 365 Pronto, our technology and logistics partner. This pricing is conditional on the system owner registering for the replacement in a timely manner when the rollout has reached their geographical region.

The rollout is being conducted in phases, with a registration deadline of Wednesday, February 23, 2022.

If you delay the registration—or do so outside the period within your region—we cannot guarantee the agreed-upon preferred price.

Next Steps

If you are a SRECTrade client receiving REC payments, the process begins by visiting the replacement program entry page to help determine whether you need a meter replacement or a modem replacement:

Replace Your Meter – Sign Up with 365 Pronto

From there you’ll complete a simple, step-by-step, online interface to register your system. Completing the application to register your system takes less than 10 minutes. You will be asked to:

  1. Verify the accuracy of our records about your system and site location
  2. Make an initial payment for the work to commence
  3. Provide the best contact information for a local provider to contact you and schedule the work

We estimate that your meter will arrive 30-40 days after you purchase it. Once your 365 Pronto service provider has your equipment in stock, they will reach out to you to schedule the installation. In many cases, the homeowner does not have to be present during the installation.

Frequently Asked Questions

  1. Why is this replacement necessary?
    • Wireless communications protocols become obsolete over time, and the wireless carriers (Verizon, AT&T, etc.) are phasing out old networks (2G/3G) in favor of faster, upgraded networks. Many solar systems installed more than three years ago likely have equipment designed for the network technology of the time (2G/3G).
  2. Who is 365 Pronto?
    • 365 Pronto is our technology and logistics partner. It is a technology platform company matching asset owners (you) with an on-demand qualified workforce (local service providers) through automated technology. Because of its unique model, it can service the entirety of SRECTrade’s systems under trading.
  3. How much will a new meter cost?
    • SRECTrade negotiated a lower-than-market price for the modem of $534.00; however, you’re eligible for a 20% in-market price discount on your modem if you register for your replacement by Wednesday, February 23, 2022. That means a reduced price on the modem of $464.20*, but you’ve got to book in this time frame for when 365 Pronto is conducting the work in your area.
    • *Disclaimer: Price is subject to i) applicable sales tax on equipment and ii) change, based on availability and when you reserve your meter. Once your 365 Pronto service provider has your meter in stock, they will reach out to you to schedule the installation.
  4. Can I use my original installer?
    • Yes, you may contact your installer to ask about having this work performed. However, providers who are not part of the 365 Pronto network may not be able to guarantee the same price. This is why it is important to book your meter replacement with 365 Pronto by Wednesday, February 23, 2022 and reserve your discounted price.
  5. When will my new meter be installed?
    • The ongoing effects of the pandemic have caused worker shortages, which have impacted factory production of goods, including meters. Delays at major ports have slowed down shipping and delivery schedules even more.
    • Once your 365 Pronto service provider has your equipment in stock, they will reach out to you to schedule the installation. At that time, 365 Pronto will process your payment for the installation. In some cases, the homeowner does not have to be present during the installation. However, if the unit is in the garage, it may be necessary for you to be present during the installation.
  6. Do I need to do anything once the new meter is installed?
    • No. Once your new meter is installed, it will begin to communicate your solar output with SRECTrade as normal. If you have questions about your SRECTrade account, please see question 13 on who to contact.
  7. How do I know my meter is working?
    • We understand that there is a delay between when your output is recorded and when your RECs are minted. We will provide email confirmation to let you know that the system is working. If you have questions about your SRECTrade account, please see question 13 on who to contact.
  8. Will my meter stop working after the REC deadline and interrupt my RECs?
    • Your meter will continue to monitor your output; however, it will no longer communicate directly with SRECTrade after the 3G sunset, which is scheduled to happen as early as February 2022. If you have questions about your SRECTrade account, please see question 13 on who to contact.
  9. What is the meter model type and manufacturer that is being used for the replacement(s)? Is it up to the installer?
    • Installers do not have a choice in the type of replacement meter they install. They will replace your meter with the Cat M1 ArrayMeter.
  10. Whom should I contact to cancel a work order? Is this possible in the first place?
    • If, on the rare occasion, a customer wishes to cancel an order, they should submit the request to support@365pronto.com.
  11.  Is the 365 Pronto Wizard secure?
    • The security of the 365 Pronto platform and website is paramount, and we treat customer information with the utmost care. Information is captured by 365 Pronto through our platform and stored on AWS servers. 365 Pronto is an AWS native platform, and for that reason, we use the Well-Architected framework provided by that cloud provider. We follow the design principles proposed in their security pillar. These include principles such as (1) Implementing a strong identity foundation, (2) Enabling traceability, (3) Applying security at all layers, (4) Automating security best practices, (5) Protecting data in transit and at rest, (6) Keeping people away from our data, and (7) Preparation for security events. Anyone with additional questions should reach out to support@365pronto.com.
  12. Is there a 365 Pronto customer service phone number to call for assistance with registering? How can clients sign up if they do not have a computer?
    • Currently, we offer chat support via the website and email support. Although we can help customers with the process, they need to access our platform to purchase their meter. They can log into the sign-up wizard from any browser on a phone, laptop, or device of their choice. Anyone with questions should reach out to support@365pronto.com.
  13. Who do I contact at SRECTrade if I have questions or need assistance?
    • Please use one of the following email addresses based on where your solar system is certified.
      1. Delaware (DE): de.renewables@srectrade.com
      2. District of Columbia (DC): dc.renewables@srectrade.com
      3. Illinois (IL): il.renewables@srectrade.com
      4. Maryland (MD): md.renewables@srectrade.com
      5. Massachusetts (MA): ma.renewables@srectrade.com
      6. New Jersey (NJ): nj.renewables@srectrade.com
      7. Ohio (OH): oh.renewables@srectrade.com
      8. Pennsylvania (PA): pa.renewables@srectrade.com
      9. Virginia (VA): va.renewables@srectrade.com

DC Public Service Commission RGM Revised Rulemaking

Posted February 4th, 2022 by SRECTrade.

Overview

On August 13, 2021, the Public Service Commission of the District of Columbia (Commission) published a Notice of Proposed Rulemaking (NOPR) 68 DCR 008076 to amend Sections 2902, 2903, and 2999 to require all renewable generating facilities to account for their electricity output through the use of a revenue-grade production meter (RGM).

The original NOPR required all previously certified facilities to report energy and production data with revenue-grade meter or inverter-based equipment. After an extended comment period, the Commission no longer requires previously registered facilities to install a revenue-grade meter. These systems will be grandfathered in.

New Requirements

On January 28, 2022, under the second NOPR RM29-2021-01, the Commission announced that it now requires all new systems to “utilize a meter or inverter-based production measurement equipment to report revenue-grade energy production data to PJM-EIS GATS.” The comment period ends on February 28, 2022 and the final ruling will come there after.

Moving forward, the requirements for a revenue-grade meter on all new systems located in the District of Columbia, including any Maryland sited systems located on a DC Feeder line, will assist in reaching the RPS goal of 5% Renewable Solar Energy by 2032.

The Commission defines a revenue-grade meter as:

“Revenue-Grade Generation Meter – A meter used by a behind-the-meter generator or CREF that measures the generated electricity at the AC output of an inverter, is capable of recording the cumulative kilowatt hours that the generator produces which meets the latest American National Standards Institute (ANSI) C-12.20 standard including an accuracy deviation no greater than +/- 0.5%, and that easily displays all collected data and retains lifetime production even in the event of a power outage.”

SRECTrade

SRECTrade is dedicated to providing operational assistance in managing SRECs amongst available regions. As legislative changes frequently occur, we strive to help systems remain compliant with updated rules and regulations. We are available for questions or concerns at your convenience.

SRECTrade Expands Partnership With 365 Pronto For Solar-Log Meter Replacements

Posted January 26th, 2022 by SRECTrade.

As early as this February, providers will phase out their support of more than 22 million 3G communications devices—including critical equipment your solar system uses to measure, record, and communicate production data. Depending on the component makeup of that particular system, this can be either a revenue-grade meter or the CDMA/GSM modem within certain inverter models.

As a result of this phaseout, these modems/meters will fall out of compliance for the minting of SRECs and receipt of quarterly payments to solar system owners.

To prevent this sunset from impacting you, SRECTrade has partnered with 365 Pronto to remove and dispose of old 3G modems or meters and replace them with new 4G/5G modems or meters that follow the regulations and network communications needed for verified SREC payments to system owners.

While there is no fine or penalty for not having this equipment swapped out, system owners who choose not to upgrade will soon stop receiving quarterly SREC payments, negatively impacting their expected return on investment from their solar installation(s).

Pricing, Payment, and Rollout
System owners are responsible for the cost of this replacement equipment and related labor. SRECTrade is committed to helping our customers keep costs low, so we have negotiated preferred pricing with 365 Pronto, our technology and logistics partner. This pricing is conditional on the system owner registering for the replacement in a timely manner when the rollout has reached their geographical region.

The rollout is being conducted in phases and is currently underway in Massachusetts, with a registration deadline of Monday, February 7, 2022.

If you delay the registration—or do so outside the period within your region—we cannot guarantee the agreed-upon preferred price.

Massachusetts SREC Market
Current SREC market prices are around $300/MWh/SREC. For the average system size of 7 kW, this represents a potential loss of $2,100 per year in quarterly SREC credit payments for Massachusetts residents. For systems larger than the average, the loss could be even greater.

Next Steps
If you are a Massachusetts resident receiving quarterly SREC payments, the process begins by visiting the replacement program entry page to help determine whether you need a meter replacement or a modem replacement:

Replace Your Meter – Sign Up with 365 Pronto

From there you’ll complete a simple, step-by-step, online interface to register your system. Completing the application to register your system takes less than 10 minutes. You will be asked to:

  1. Verify the accuracy of our records about your system and site location
  2. Make an initial payment for the work to commence
  3. Provide the best contact information for a local provider to contact you and schedule the work

We estimate that your meter will arrive 30-40 days after you purchase it. Once your 365 Pronto service provider has your equipment in stock, they will reach out to you to schedule the installation. In many cases, the homeowner does not have to be present during the installation.

Frequently Asked Questions

  1. What is a revenue-grade meter?
    • The meter is what your solar system uses to communicate your solar output with SRECTrade. Without this meter, we cannot determine how many SRECs to mint to you.
  2. Why is this replacement necessary?
    • Wireless communications protocols become obsolete over time, and the wireless carriers (Verizon, AT&T, etc.) are phasing out old networks (2G/3G) in favor of faster, upgraded networks. Many solar systems installed more than three years ago likely have equipment designed for the network technology of the time (2G/3G).
  3. What is 365 Pronto?
    • 365 Pronto is our technology and logistics partner. It is a technology platform company matching asset owners (you) with an on-demand qualified workforce (local service providers) through automated technology. Because of its unique model, it can service the entirety of SRECTrade’s systems under trading.
  4. How much will a new meter cost?
    • SRECTrade negotiated a lower-than-market price for this work of $1,193.40; however, you’re eligible for a 20% in-market price discount on your meter if you register for your replacement before Monday, February 7, 2022. That means a reduced price of $998.70*, but you’ve got to book in this time frame for when 365 Pronto is conducting the work in your area.
    • *Disclaimer: Price is subject to i) applicable sales tax on equipment and ii) change, based on availability and when you reserve your meter. Once your 365 Pronto service provider has your meter in stock, they will reach out to you to schedule the installation.
  5. Can I use my original installer?
    • Yes, you may contact your installer to ask about having this work performed. However, providers who are not part of the 365 Pronto network may not be able to guarantee the same price. This is why it is important to book your meter replacement with 365 Pronto before Monday, February 7, 2022 and reserve your discounted price.
  6. When will my new meter be installed?
    • The ongoing effects of the pandemic have caused worker shortages, which have impacted factory production of goods, including meter. Delays at major ports have slowed down shipping and delivery schedules even more.
    • Once your 365 Pronto service provider has your equipment in stock, they will reach out to you to schedule the installation. At that time, 365 Pronto will process your payment for the installation. In some cases, the homeowner does not have to be present during the installation. However, if the unit is in the garage, it may be necessary for you to be present during the installation.
  7. Do I need to do anything once the new meter is installed?
    • No. Once your new meter is installed, it will begin to communicate your solar output with SRECTrade as normal. If you have questions about your account, please email ma.renewables@srectrade.com.
  8. How do I know my meter is working?
    • We understand that there is a delay between when your output is recorded and when your SRECs are minted. We will provide email confirmation to let you know that the system is working. If you have questions about your account, please email ma.renewables@srectrade.com.
  9. Will my meter stop working after the SREC deadline and interrupt my SRECs?
    • Your meter will continue to monitor your output; however, it will no longer communicate directly with SRECTrade after the 3G sunset, which is scheduled to happen as early as February 2022. If you have specific questions about your SREC account, please contact ma.renewables@SRECTrade.com.
  10. What is the meter model type and manufacturer that is being used for the replacement(s)? Is it up to the installer?
    • Installers do not have a choice in the type of replacement meter they install. They will replace your meter with the Cat M1 ArrayMeter.
  11. Whom should I contact to cancel a work order? Is this possible in the first place?
    • If, on the rare occasion, a customer wishes to cancel an order, they should submit the request to support@365pronto.com.
  12. Is the 365 Pronto Wizard secure?
    • The security of the 365 Pronto platform and website is paramount, and we treat customer information with the utmost care. Information is captured by 365 Pronto through our platform and stored on AWS servers. 365 Pronto is an AWS native platform, and for that reason, we use the Well-Architected framework provided by that cloud provider. We follow the design principles proposed in their security pillar. These include principles such as (1) Implementing a strong identity foundation, (2) Enabling traceability, (3) Applying security at all layers, (4) Automating security best practices, (5) Protecting data in transit and at rest, (6) Keeping people away from our data, and (7) Preparation for security events. Anyone with additional questions should reach out to support@365pronto.com.
  13. Is there a 365 Pronto customer service phone number to call for assistance with registering? How can clients sign up if they do not have a computer?
    • Currently, we offer chat support via the website and email support. Although we can help customers with the process, they need to access our platform to purchase their meter. They can log into the sign-up wizard from any browser on a phone, laptop, or device of their choice. Anyone with questions should reach out to support@365pronto.com.