Archive for the ‘SREC Markets’ Category

SRECTrade Continues Partnership With 365 Pronto For SolarEdge Modem Replacements

Posted December 20th, 2021 by SRECTrade.

Next year, telecommunications 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 such as the CDMA/GSM modem within certain SolarEdge inverter models.

As a result of this phaseout, these modems 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 and replace them with new 4G/5G modems 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 the 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 Saturday, January 8, 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 SREC credit payments for Massachusetts residents. For systems larger than the average, the loss is 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 initiate your modem replacement:

Replace Your Modem – 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 modem 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 CDMA/GSM modem?
    • For cellular-based monitoring to function, solar inverters contain a modem operating on Global Systems for Mobile (GSM) or CDMA, a radio network used by wireless carriers. These networks are more commonly referred to as 2G and 3G and were widely used in the early years of cellular communication technology, with CDMA being the predominant network in the U.S.
  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 DNA match technology. Because of its unique model, it can service the entirety of SRECTrade’s systems under trading.
  4. How much will a new modem cost?
    • Through our partnership, we were able to negotiate a special lower-than-market price just for Massachusetts SREC Trade customers. This price includes all parts and installation, plus a five-year data plan.  You should act now, because next month, 365 Pronto providers will be conducting work in your area. If you reserve your modem replacement slot by Saturday, January 8, 2022 , you can secure a 20% in-market price discount on your equipment and 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 modem replacement with 365 Pronto before Saturday, January 8, 2022, and reserve your discounted price.
  6. When will my new modem be installed?
    • Due to supply limitations, we expect that your modem will be installed between February and March 2022. 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 located in the garage it may be necessary for you to be present during the installation.
  7. Will the modem be sent to my home?
    • Yes, the modems will be sent directly to your home. When the modem has shipped, you’ll receive a USPS tracking number per email so you’ll know it’s location at any given moment and when it will arrive.
  8. Do I need to do anything once the new modem is installed?
    • No. Once your new modem 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.
  9. How do I know my modem 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.
  10. What is the modem type and manufacturer that is being used for the replacement(s)? Is it up to the installer? Does the old modem in any way dictate which new modem will be installed?
    • SolarEdge CELL-A-R05-US-S-S2 or SolarEdge CELL-B-R05-US-S-S2 is the dedicated replacement for the modem.
  11. Do the new modems being installed have internet/ethernet connection capabilities?
    • Both replacement parts are cellular-only, and do not support an internet/ethernet connection.
  12. Who should 365 Pronto clients contact if they want to cancel their 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.
  13. 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. While we have not received any official reports of notifications related to the security of our site, anyone with questions should reach out to support@365pronto.com.
  14. Is there a 365 Pronto customer service phone number that clients can call for assistance with registering? Related, 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 a customer with the process, they do need to access our platform to purchase their modem. They can log into the sign-up wizard from any browser on a phone, laptop, or device of their choice.
  15. Will my modem stop working after January 8th and interrupt my SRECs?
    • Your modem 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.

*Disclaimer: Price is subject to i) sales tax on equipment and ii) change, based on availability and offering acceptance timing. We expect that your equipment will arrive 30-40 days after you purchase it. Once your 365 Pronto service provider has your modem in stock, they will reach out to you to schedule the installation.

SRECTrade Partners With 365 Pronto For 3G Sunset

Posted November 4th, 2021 by SRECTrade.

Overview
Next year, telecommunications providers will phase out their support of more than 22 million 3G communications devices—including the revenue-grade meters used for measuring and recording the production of solar energy systems. As a result, these 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 revenue-grade meters and replace them with new revenue-grade 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 the meter swapped out, system owners who choose not to upgrade their meter(s) could soon stop receiving SREC payments, negatively impacting the expected return on investment from their solar installation(s).

If you have not yet been contacted by us, don’t worry, we’ll be in touch in the coming weeks as the program rolls out.

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 with be conducted in phases and will begin in Massachusetts. If you register before Saturday, November 20, 2021, you’ll be eligible for a 20% in-market price discount on your meter and installation.

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 is even greater.

Next Steps
If you are a Massachusetts resident and have been recently contacted by us regarding your SREC payments, the process begins by visiting a simple, step-by-step, online interface to register your system:

Replace Your Revenue-Grade Meter – Sign Up with 365 Pronto

Again, if you have not yet been contacted by us, don’t worry, we’ll be in touch in the coming weeks as the program rolls out.

We estimate that your meter will arrive 30-40 days after you purchase it. Once your 365 Pronto service provider has your meter 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 withthe SREC tracking registry. Without this meter, the registry 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 DNA match 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?
    • Through our partnership, we were able to negotiate a special lower-than-market price just for Massachusetts SREC Trade customers.  This price includes all parts and installation, plus a one-year cellular data plan.
    • You should act now, because next month, 365 Pronto providers will be conducting work in your area. If you reserve your meter replacement slot by Saturday, November 20, 2021, you can secure a 20% in-market price discount on your meter and installation.
    • You will need to register and purchase your replacement meter before Saturday, November 20, 2021, to secure this discount.
  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 Saturday, November 20, 2021 and reserve your discounted price.
  6. When will my new meter be installed?
    • We expect that your meter will arrive 30-40 days after you purchase it. Once your 365 Pronto service provider has your meter in stock, they will reach out to you to schedule the installation. At that time, 365 Pronto will process your payment for the installation of your meter. In many cases, the homeowner does not have 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.

*Disclaimer: Price is subject to i) sales tax on equipment and ii) change, based on availability and offering acceptance timing. We expect that your meter will arrive 30-40 days after you purchase it. Once your 365 Pronto service provider has your meter in stock, they will reach out to you to schedule the installation.

New Jersey Successor Solar Incentive (SuSI) Program – Webinar

Posted October 7th, 2021 by SRECTrade.

Earlier today, SRECTrade hosted a webinar for New Jersey Successor Solar Incentive (SuSI) Program stakeholders. The webinar reviewed many important facets of the SuSI Program including pricing, the registration process, and market parameters as well as SRECTrade’s participation as a REC management and transaction service provider.

For access to the presentation slides, please click HERE. To view a recording of the webinar, please click the image below.

New Jersey Successor Solar Incentive (SuSI) Program Webinar

Posted October 1st, 2021 by SRECTrade.

SRECTrade is presenting a webinar on the New Jersey Successor Solar Incentive (SuSI) Program on Thursday, October 7th at 2:00 PM EST. The webinar will review many important facets of the SuSI Program including pricing, the registration process, and market parameters as well as SRECTrade’s participation as a REC management and transaction service provider.

To register for the webinar, please click HERE.

Please note that a webinar recording will be made available on the SRECTrade Blog after the webinar.

New Jersey Successor Solar Incentive Program Approved

Posted July 30th, 2021 by SRECTrade.

On Wednesday, July 28th, the New Jersey Board of Public Utilities (BPU) unanimously approved the highly anticipated Successor Solar Incentive Program (“SuSI Program”). The SuSI Program will support the development of 3,750 megawatts (MW) of new solar generation by 2026, effectively doubling the state’s current solar capacity and driving solar to become approximately 10 percent of the state’s total electricity supply.

Importantly, the SuSI Program will take effect on August 28, 2021, and contains two sub-programs detailed below. Thus, the New Jersey Transition Incentive (TI) Program will close at midnight on Friday, August 27th. TREC applications will be accepted until that date and will be provided with a 5-business day window to correct minor deficiencies, if required, after their review.

  1. The Administratively Determined Incentive (ADI) – a 15-year, fixed-price incentive payment for net-metered solar projects less than or equal to 5 MW in size. This sub-program is inclusive of all residential projects and most commercial and industrial projects, with pricing varying based on project type and size (see table below).
  2. The Competitive Solar Incentive (CSI) – a competitive solicitation for grid supply projects and net metered commercial and industrial projects larger than 5 MW. The first competitive solicitation is projected to launch in early-to-mid 2022.
Incentive levels for the ADI Program, ranging from $70-$120 per SREC-II.

Notably, net-metered residential projects will receive pricing only $1.20/megawatt-hour (MWh) less than their current effective TREC pricing of $91.20/MWh. The incentive value for public entities in each market segment is $20/MWh than their non-public counterparts. Public entities include school districts, municipalities, and public colleges and universities.

SRECTrade will continue to post significant updates on the transition between the current Transition Incentive program and the upcoming SuSI Program as they become available.

Maryland SREC Market Update

Posted July 13th, 2021 by SRECTrade.

On June 1, 2021, Maryland Governor Larry Hogan allowed Senate Bill 65 (SB 65) to pass into law without his signature. SB 65 revises Maryland’s Renewable Portfolio Standard (RPS), decreasing the solar carve-out from 2022-2029 while increasing its solar alternative compliance payment (SACP) from 2023-2029. The new law still requires 50% of MD electricity sales from Tier I renewable energy resources with a 14.5% solar carve-out by 2030.

This adjustment to Maryland’s RPS should bring a more gradual increase to the solar carve-out requirement. Our enclosed analysis projects the 2021 market and forward years to be undersupplied – we expect the degree of undersupply to increase in years 2022 and 2023 and show a moderate decrease in year 2024. The forecasted degree of undersupply seen in years 2022-2024 has seen a substantial decrease from our previous analysis due to the recent reductions in RPS. While we project that the new changes to Maryland’s RPS will decrease the degree of undersupply seen in forward years, build rates still must show a substantial increase in order to keep up with the new RPS schedule.

Current MD SREC pricing has been consistent over the last few months with 2021 SRECs pricing around $77.50, 97% of the ACP and 2022 SRECs pricing around $57.00, 95% of the ACP.

Final 2021 MD SREC production, final 2021 MD load figures, and actual grandfathered load could impact the degree of undersupply seen in 2021 and forward years.



Virginia REC Opportunities

Posted July 2nd, 2021 by SRECTrade.

SRECTrade’s Virginia application is currently live on our website. As previously mentioned, the Virginia Clean Economy Act compels Dominion to procure 1% of their RPS compliance from in-state distributed solar resources smaller than 1 MW. This equates to approximately 90 MW in 2021. Dominion filed an RFP this year to meet their obligations.

While there is still uncertainty regarding spot trades in the Virginia market, SRECTrade is continuing to monitor the market and will monetize RECs through all available channels. Beginning in Q3 2021, SRECTrade will be offering 2-year and 5-year forward contracts for systems under 1 MW located in the state of Virginia.

For more information regarding contract opportunities please reach out to installers@srectrade.com.

Maryland Renewable Portfolio Standard Updated Without Governor’s Signature

Posted June 4th, 2021 by SRECTrade.

On Tuesday, June 1st, Maryland’s updated Renewable Portfolio Standard (RPS) took effect after Governor Larry Hogan allowed Senate Bill 65 (SB 65) to pass into law without signature. The new law still mandates that Maryland source 50% of its electricity sales from Tier I renewable energy sources by 2030, with a 14.5% solar carve-out. Notably, the law decreases Maryland’s solar carve-out from 2022-2029 and increases its solar alternative compliance payment (SACP) rate from 2023-2029. The bill originally cleared the Maryland legislature on April 12th by significant majorities.

The new law also removes black liquor, a paper mill byproduct, from the list of eligible Tier I REC resources.

SRECTrade plans to publish an analysis on the impacts that this law could have on Maryland’s SREC market in the coming weeks.

Clean Fuels Market Update – May 2021

Posted June 2nd, 2021 by SRECTrade.

The May 2021 Clean Fuels Market Update covers everything you need to know about clean fuel programs across the nation. Some highlights of our quarterly newsletter:

  • Q4 2020 saw California LCFS credit generation outpace deficit generation, with the credit bank increasing 4.8% between Q3 2020 and Q4 2020. (Note: LCFS credits are issued on a delayed quarterly schedule; the most recent credit issuance was on April 1 for fuel consumption in Q42020)
  • Electricity as a fuel has been increasing in its market share, aside from the dip at the beginning of the pandemic in Q1 2020
  • Steady credit pricing for the California LCFS in Q1 2021, with some fluctuation in Q2 2021 as credit prices dipped as low as $173 between March and April, far from its historic highs of $202 per credit.
  • Oregon CFP now allows the use of renewable energy credits (RECs) to claim zero-carbon electricity
  • Washington state is the next state to adopt a clean fuels program, aiming to reduce transportation emissions by 20% by 2035, with 2017 as the baseline
  • Federal, state, and regional grant programs available in California and across the country as regulators push for the transition to zero-emission vehicles and equipment
  • Learn about Fast Charging Infrastructure (FCI) crediting and how LCFS credits can lower your capital expenditure in DCFCs
Screenshot of page 1 of LCFS market update.

City of Porterville Partners with SRECTrade to Accelerate Adoption of Zero-Emission Fleet

Posted April 7th, 2021 by SRECTrade.

City of Porterville, CA Accelerates Adoption of Zero-Emission Vehicles with Revenue from LCFS Credits Managed
and Monetized by SRECTrade

Rapidly Advancing Porterville’s Top Priority – Improved Air Quality

PORTERVILLE, CA, April 7, 2021 – The City of Porterville and SRECTrade today announced key milestones and plans to continue reducing carbon emissions and improving air quality for area residents. Porterville is rapidly electrifying its fleet and getting paid to do so by SRECTrade via the California Low Carbon Fuel Standard (LCFS) program. In a region battling air pollution, the municipality has taken bold steps to deploy zero- and near zero-emissions fleet equipment by deploying Compressed Natural Gas (CNG) buses and electric buses, as well as light-duty charging stations that generated more than $65,000 of LCFS credits in 2020, and with higher post-COVID use could generate more than $100,000 in 2021.

As a visionary and early adopter of alternative fuels among municipalities, Porterville, located in the San Joaquin Valley, deployed its first CNG bus in 2010 and first electric bus in 2018. Porterville’s fleet today consists of 10 battery-electric buses, 12 battery-electric vans, 10 200kW DC Fast Chargers and six Level-2 public charging stations, with 14 additional DCFC stations under construction, that reduce total cost of ownership and enable quicker adoption, while also creating a healthier future for the community. By 2024 Porterville plans to convert its entire fleet to electric and provide more public-access charging infrastructure for residents.

“The key was taking those first steps – it was hard work, but more doable than anyone thought,” said Transit Manager Richard Tree. “A wealth of resources existed to help us move forward. Getting started quickly showed what was possible technologically and financially. We learned, adjusted, and kept moving forward.” Tree emphasized the advantage of engaging resource partners with the knowledge and capabilities required to help address the challenges encountered when planning, funding, deploying, and managing zero-emission transportation equipment and infrastructure.

These cleaner vehicles also save money. Electric fuel and maintenance costs have been reduced by about 80% and 75%, respectively. Grant and incentive programs such as the California LCFS program supported the city’s initial deployment while also providing an ongoing revenue stream and offsetting electricity costs. In the past year alone, the City of Porterville generated an average of $0.21/kWh from its electric fleet.

“The City of Porterville has demonstrated committed leadership in its drive to reduce carbon emissions. We’ve been happy to play our role on this very driven team,” noted Mike Saxton, SRECTrade Managing Director. “SRECTrade plugged in to manage and monetize LCFS credits generated by Porterville’s eligible equipment. The higher dollars we pay organizations directly support our mission to help fund continued deployment of zero-emission equipment.”

Porterville has set its sights on even bolder clean energy goals, exploring solar generation, energy storage, renewable electric vehicle chargers, and electric vehicle and charger programs that would help its residents make the switch to electric vehicles. SRECTrade will continue supporting the municipality through its expertise in environmental commodities and transparent reporting of the value being generated.

About City of Porterville

Porterville is a city in the San Joaquin Valley, in Tulare County, California. It is part of the Visalia-Porterville metropolitan area. Located between Fresno to the north and Bakersfield to the south, Porterville serves as a gateway to Sequoia National Forest, Giant Sequoia National Monument, and Kings Canyon National Park. The city has a population of nearly 60,000.

About SRECTrade, Inc.

SRECTrade provides trusted advice, management, and technology to maximize financial and environmental benefits of environmental commodities for the owners of clean transportation and renewable energy assets. We manage all credit generation and sale to get companies paid in compliance with complex regulatory programs. SRECTrade is the largest agent manager of EV assets for the California Low Carbon Fuel Standard (LCFS) and has earned an annual client retention greater than 99% with more than 54,000 unique assets under management and more than 150,000 clean energy assets utilizing its proprietary technology platform. With presence across 10 regulated markets and 20 tradable products in North America, SRECTrade helps accelerate the adoption of clean energy and clean transportation equipment by minimizing the time, cost, and risk associated with realizing program benefits.

The press release can also be found HERE.