Archive for the ‘SREC Pricing’ Category

May 2013 SRECTrade Auction Results

Posted May 22nd, 2013 by SRECTrade.

SRECTrade’s May 2013 SREC Auction closed on 5/01/13. Below are the clearing prices by vintage across the markets covered in the auction.

May SREC Prices	SREC Vintage Year
State	2011	2012	2013*
Delaware	–	$35.00	–
Maryland	$115.00	$120.00	$125.00
Massachusetts	–	$200.00	–
New Jersey	$120.00	$135.01	$140.01
Ohio In-State	–	–	$50.00
Ohio Out-of-State	$10.00	$14.00	$14.00
Pennsylvania	–	$10.00	$13.00
Washington, DC	–	$405.00	$420.00

Notes:
*Delaware, New Jersey and Pennsylvania operate on a June-May energy year. For example, current vintage SRECs are generated beginning in June of 2012.
Green text represents a price increase over the last auction clearing price for that vintage, red text represents a decrease.
“-” reflects no sale, which would result if there were no SRECs available for sale in that vintage or there were no matching bids and offers to determine a clearing price.

State Market Observations:

Delaware: The Delaware market is highly illiquid. The primary buyer for DE SRECs is Delmarva Power and Light (DPL). Most SRECs are sold through DPL’s SRECDelaware program, for which SREC asset owners submit competitive applications in order to obtain 20 year SREC contracts. There continues to be some need for SRECs outside of DPL’s program and compliance buyers with a need for DE sited SRECs have recently started to submit bids for SRECs. Futhermore, DPL is also currently holding it’s own spot auction for SRECs in order to cover its 2012 energy year position outside of the SRECs that it procured through the SRECDelaware program. The spot auction order window closes on 5/22/2013. SRECTrade administers both the DPL spot auction as well as the software behind the the SRECDelaware solicitations.

Maryland: MD eligible SREC prices came down from last month’s SRECTrade auction prices. MD2011s, MD2012s, and MD2013s transacted at $115/SREC, $120/SREC, and $125/SREC, respectively, in the May auction.

Massachusetts: Following on the heels of the 2012 Q4 SREC issuance in April 15, MA2012 SRECs traded at $200/SREC, in line with pricing throughout 2012 vintage trading. MA2012 vintage SRECTrade auction prices have transacted between a low of $181.50/SREC in April 2013 and a high of $271.05/SREC in July 2012. Unsold SRECs should be deposited in the DOER Solar Credit Clearinghouse Auction NEPOOL-GIS account by June 15, 2013. SRECs that are not deposited in the DOER auction will not be eligible for future transactions. SRECTrade expects that approximately 45,000 SRECs will be deposited in the DOER auction. For more on the MA market read our MA blog posts.

New Jersey: A rush on NJ vintage 2011, 2012, and 2013 SRECs pushed May auction pricing up. NJ2011, NJ2012, and NJ2013 SRECs traded at $120.00, $135.01, and $140.01/SREC, respectively. The OTC market has experienced pricing increases in line with the auction pricing. This occurred despite NJ Office of Clean Energy announcements that the total installed capacity through 4/30/2013 is estimated to be 1,049 MW, a month over month increase of approximately 22.8 MW. The New Jersey market however, continues to be over-supplied. Not including unsold over-supply carried over from previous vintages, approximately 496.7 MW of annual installed operational capacity is required to meet the 2013 requirement. As of, 5/15/2013, 995.6 MW were registered in GATS or two times the requirement. GATS registrations tend to lag behind NJ Office of Clean Energy Data by several months because of delays in registering facilities with GATS. NJ SRECs are credited back to date of interconnection.

Ohio: OH2013 Sited SRECs transacted at $50/SREC . OH2011, 2012 and 2013 adjacent vintage SRECs traded at $10, $14 and $14/SREC respectively. As in many auctions throughout the last year there was no sale of the OH2012 sited vintages indicating the lack of demand and oversupply in the market. 2013 is expected to continue to experience oversupply and minimal demand. Most demand for OH Sited SRECs has been fulfilled through long term agreements with large utility scale projects or through long term RFPs with the state’s regulated utilities. 2012 compliance obligations are currently being finalized.

Pennsylvania: PA2012 and 2013 SRECs traded at $10 and $13/SREC respectively, in line with previous auctions. OTC transactions have been pricing slightly higher or in line with auction prints. SREC oversupply continues to impact PA’s market.

Washington, DC: DC SRECs continue to trade up month over month. The 2012 and 2013 vintages increased to $405 and $420/SREC, respectively. It is expected the market will continue to experience under supply into the 2013 trading year.

For historical auction pricing please see this link. The next SRECTrade auction closes on Tuesday, June 4 at 5 p.m. ET and will cover PJM and MA Solar RECs. Click here to sign in and place an order.

Tags: SREC Auction, SREC Prices, SRECs
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February 2013 SREC Auction Results

Posted February 21st, 2013 by SRECTrade.

SRECTrade’s February 2013 SREC Auction closed on 2/1/13. Below are the clearing prices by vintage across the markets covered in the auction.

February SREC Prices	SREC Vintage Year
State	2011	2012	2013*
Delaware	–	–	–
Maryland	–	$140.00	–
Massachusetts	–	$206.12	–
New Jersey	–	$95.00	$110.00
Ohio In-State	–	$40.00	–
Ohio Out-of-State	–	$9.00	–
Pennsylvania	–	–	$10.00
Washington, DC	$366.13	$370.00	–

For detailed analysis of SREC market prices and trends please subscribe to the SREC Market Monitor, a joint publication of Greentech Media’s GTM Research and SRECTrade.

State Market Observations:

Delaware: No DE SRECs transacted in the February auction. Most demand for DE SRECs will be through the DE SEU SREC Procurement Program solicitations. For the latest information on the upcoming 2013 solicitation click here: 2013 DE Program Announcement.

Maryland: MD2012 SRECs have consistently transacted at $140/SREC over the past 3 auction periods. As Q1 2013 comes to a close any compliance entities needing MD12 SRECs will be wrapping up their purchases. It is expected that the market will experience a small amount of oversupply for the 2012 compliance period.

Massachusetts: MA2012 SRECs traded at $206.12/SREC. SREC issuance volumes in Q1-Q3 2012 and October – December 2012 MWhs reported to the MA CEC demonstrate that 2012’s requirements have been met. The next SREC issuance for Q4 2012 generation will fall on April 15, 2013. The 2012 market will be oversupplied by approximately 50% of this year’s compliance obligation.

New Jersey: NJ2012 and NJ2013 SRECs traded up to $95 and $110/SREC, respectively. The NJ Office of Clean Energy announced total installed capacity through January 2013 was estimated to be 973.4 MW, a monthly increase of approximately 17.4 MW. Monthly install rates continue to surpass RPS requirements.

Ohio: OH2012 Sited SRECs increased to $40/SREC and OH2012 Adjacent SRECs traded at $9/SREC. Both markets are oversupplied. Most demand for OH Sited SRECs has been fulfilled through long term agreements with large utility scale projects or through long term RFPs with the state’s regulated utilities. 2012 compliance obligations are currently being finalized.

Pennsylvania: PA2013 SRECs traded at $10/SREC, $2/SREC less than the January 2013 auction. SREC oversupply continues to impact PA’s market.

Washington, DC: The 2010, 2011, and 2012 vintages increased to $330, $366.13, and $370/SREC, respectively. Increases in price may continue as the 2012 and 2013 markets are under supplied.

For historical auction pricing please see this link. The next SRECTrade auction closes on Thursday, February 28th at 5 p.m. ET and will cover PJM and MA Solar RECs. The next auction will be the first in which 2013 vintage SRECs will be available in Maryland, Ohio, and Washington, DC. Click here to sign in and place an order.

Tags: Auction, Prices, REC, SREC, SREC auction prices, SREC Prices, SREC Sales, SRECs
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Maximizing SREC Returns

Posted December 12th, 2012 by SRECTrade.

Who is watching your SREC account? We came across the story of a municipality that fell behind on managing its SREC account and had to implore large commercial and municipal solar owners to consider joining the 80+ MW of customers in our aggregation services!

A recent New Jersey article about a township and the SRECs that their Water Utility Division was selling titled “Water utility expected to rake in close to $100,000 to benefit ratepayers.” The utility expects to sell 1,500 SRECs that it has accrued since June of 2011. The market price today for those SRECs is roughly $80. So yes, that does result in over $100,000 in SREC revenue.

That said, the article could also be titled “Water utility loses close to $180,000 in SREC value” because if it had been selling its SRECs at market prices in regular intervals as they were issued since July of 2011, the total value of those SREC sales would have been over $280,000. And that does not even account for the time value of money.

Customers on the SRECTrade platform have their SREC accounts automatically updated and tracked to ensure that the SRECs are sold at regular intervals. We automate payments direct to bank accounts and even offer a service where we’ll actively manage the customers account. For a 500kW to 1MW facility, the customer would have paid a 1.0% in additional service fees on $280,000 in SREC transactions. In addition, if they had sold in our auction, the total fees, including the service fee, of 1.5%. That said, the fees don’t matter at all when a passive SREC management approach results in $180,000 in lost revenue!

If you have a commercial solar facility, you may feel like you can stay on top of the SREC market when you first get started, but it is not uncommon for other priorities to overshadow the management of your SRECs, two, five or ten years down the line. Especially in the case of municipalities, where approval processes can take forever. SRECTrade works with dozens of municipalities in a way that allows them to reduce the need for onerous approval processes, allowing them to stay on top of a rapidly changing SREC market. The fees are minimal and it is a no-brainer to make sure that you have someone ensuring that you are maximizing your returns!

Tags: SREC aggregation, srec management, SREC sales strategy
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December 2012 SREC Auction Results

Posted December 12th, 2012 by SRECTrade.

SRECTrade’s December 2012 SREC Auction closed last week. Below are the clearing prices by vintage across the markets covered in the auction.

December SREC Prices	Energy Year Ending
State	2011	2012	2013*
Delaware	–	–	–
Maryland	$140.00	$140.00	–
Massachusetts	–	$206.96	–
New Jersey	–	$82.00	$85.00
Ohio In-State	–	$35.00	–
Ohio Out-of-State	$8.99	$8.99	–
Pennsylvania	–	–	$8.99
Washington, DC	$300.00	$308.61	–

Notes:
*Delaware, New Jersey and Pennsylvania operate on a June-May energy year.
Green text represents a price increase over the last auction clearing price for that vintage, red text represents a decrease.
“-” reflects no sale, which would result if there were no SRECs available for sale in that vintage or there were no matching bids and offers to determine a clearing price.

For detailed analysis of SREC market prices and trends please subscribe to the SREC Market Monitor, a joint publication of Greentech Media’s GTM Research and SRECTrade.

State Market Observations:

Delaware: No DE SRECs transacted in the December auction. The last auction price for DE2012 SRECs was $40.00 in the September 2012 auction. Most demand for DE SRECs will be through the DE SEU SREC Procurement Program solicitations. More information about these solicitations can be found at srecdelaware.com.

Maryland: MD2012 SRECs increased in price, trading at $140/SREC. The increase in price is a result of the Maryland Energy Administration’s announcement about how the SRECs from the Mount St. Mary’s University 17.4 MW project will be managed.

Massachusetts: MA2012 SRECs traded at $206.96/SREC. SREC issuance volumes in Q1 and Q2 2012 and July – November 2012 MWhs reported to the MA CEC demonstrate that 2012’s requirements have been met. The next SREC issuance for Q3 2012 generation will fall on January 15, 2013. The 2012 market will likely be oversupplied by approximately 50% of this year’s compliance obligation.

New Jersey: NJ2012 and NJ2013 SRECs traded up $12 and $15/SREC, respectively. Yesterday, the NJ Office of Clean Energy announced total installed capacity through November was estimated to be 950 MW, a monthly increase of approximately 31 MW. Monthly install rates continue to surpass RPS requirements.

Ohio: OH2012 Sited SRECs declined to $35/SREC and OH2011 Adjacent and OH2012 Adjacent SRECs traded at $8.99/SREC. Both markets are oversupplied. Most demand for OH Sited SRECs has been fulfilled through long term agreements with large utility scale projects or through long term RFPs with the state’s regulated utilities. Given the current market, it is likely there will be minimal demand for the remaining part of the 2012 compliance year.

Pennsylvania: PA2013 SRECs traded at $8.99/SREC, inline with the November 2012 auction. SREC oversupply continues to impact PA’s market.

Washington, DC: The 2011 and 2012 vintages increased to $300 and $308.61/SREC, respectively. Increases in price may continue as the 2012 market is likely under supplied given the estimated requirements for the 2012 compliance year.

For historical auction pricing please see this link. The next SRECTrade auction closes on Monday, January 7th at 5 p.m. ET and will cover PJM Solar RECs. The next SRECTrade MA SREC auction closes on Tuesday, January 15th at 5 p.m. ET. Click here to sign in and place an order.

Tags: SREC Prices, SREC trends, SRECs, SRECTrade Auction
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MA2011 SREC Auction Closes at $540/SREC

Posted April 18th, 2012 by SRECTrade.

The Q4 2011 (October – December 2011 generation) MA SRECs were issued on April 15, 2012. Unlike other SREC markets, the MA Solar Carve-Out program mints SRECs quarterly, three and a half months after the close of the calendar quarter. In coordination with the Q4 2011 issuance, SRECTrade recently held a separate auction for MA2011 SRECs.

The auction order window closed on Monday, April 16th at 5:00 p.m. Eastern. SRECs transacted at a clearing price of $540.00 per SREC. The clearing price, more than 98% of the 2011 Solar Alternative Compliance Payment (SACP), represents a strong demand for MA2011 SRECs due to a shortfall of supply in the market.

The next SRECTrade Solar REC auction order window closes on Tuesday, May 1 at 5 p.m. ET. This auction will cover all of the PJM SREC markets including DC, DE, MD, NJ, OH, and PA. The order window is currently open. All buyers and self-serve sellers can login here to place an order. Sellers utilizing SRECTrade’s management service, EasyREC, will have orders automatically placed on their behalf. If these sellers need to make changes to their minimum offer prices, they must do so prior to the 5:00 p.m. close on May 1.

The next issuance of MA Eligible SRECs will be on July 15, 2012, and will cover the first quarter of 2012 eligible SRECs. The MA market continues to see a lot of installation and development activity, which has already put downward pressure on the price of 2012 vintage SRECs. Recent bid and offer activity in the over the counter markets has been at levels of approximately 50-65% of the 2012 $550 Solar Alternative Compliance Payment (SACP).

Tags: Auction, MA, Massachusetts, NEPOOL, REC, Solar, SREC
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April 2012 SREC Auction Results

Posted April 4th, 2012 by SRECTrade.

SRECTrade’s April 2012 SREC Auction closed this week. Below are the clearing prices by vintage across the markets SRECTrade is currently active in.

April SREC Prices	Energy Year Ending
State	2010	2011	2012*
Delaware	–	–	–
Maryland	–	–	–
Massachusetts	–	–
New Jersey	–	–	$135.00
Ohio In-State	–	$234.99	$185.00
Ohio Out-of-State	–	$17.50	$30.00
Pennsylvania	–	$20.00	$20.00
Washington, DC	$250.00	$277.50	$290.00

State Market Observations:

Please note, all capacity references are from the February capacity analysis and reference the amount of supply registered as of the end of February. The demand noted is the estimated capacity needed to be operational all year long for the current compliance period. Additional details regarding SREC issuance and older vintages impacting the RPS requirements are noted in the capacity analysis.

Delaware (Supply: 27.1 MW | Demand: 19.8 MW): No DE SRECs transacted in the April auction. The Delaware PSC approved the SREC Procurement Pilot Program for long term contract solicitations. The solicitation window opened this week.

Maryland (In-state Supply: 41.8 MW | Demand: 56.1 MW): No MD SRECs transacted in the April auction. Legislation to pull forward the Solar RPS requirements passed the Senate today in a vote of 37-9.

Massachusetts (Operational Supply: 52.6 MW | 2011 Demand: 55.7 MW, 2012 Demand: 65.0 MW): There was no sale of MA SRECs this period as they were sold in the Quarterly SREC Auction in mid-January. The next quarterly MA SREC auction will close on April 16, 2012. See the following link for an update on the MA SREC market: Massachusetts SREC Market Update – March 2012.

New Jersey (Supply: 689.1 MW | Demand: 368.3 MW): The 2012 market declined to $135. The continued decline in 2012 pricing reflects the substantial amount of supply currently installed relative to the 2012 and future compliance requirements.

Ohio (In-State Supply: 44.0 MW; Out-of-state Supply: 81.3 MW | Demand: 79.4 MW) : OH2011 sited SRECs increased to $234.99 as compliance obligations are being finalized for the year. 2012 pricing for in-state SRECs declined to $185. The out-of-state SREC market declined to $17.50 and $30 for the 2011 and 2012 vintages, respectively. This decline is driven by the oversupply from PA as well as the other adjacent states not having their own SREC programs.

Pennsylvania (Supply: 182.0 MW | Demand 41.2 MW): PA2011 SRECs traded up from $10 to $20, while we saw a slight decrease in the 2012 vintage to $20.

Washington, DC (Supply: 23.1 MW | Demand: 51.0 MW): The 2010 vintage saw a decline from $275 to $250/SREC, while the 2011 DC SRECs increased slightly to $277.50/SREC. Compliance year 2012 SRECs traded at $290/SREC.

For historical pricing please see this link. The next SRECTrade auction closes on Monday, April 16 at 5 p.m. ET and will cover MA2011 SRECs. The next PJM Solar REC auction will close on Tuesday, May 1 at 5 p.m. ET. Click here to sign in and place an order.

Tags: Auction, Prices, REC, SREC, SREC auction prices, SREC Prices, SREC Sales, SRECs
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February 2012 SREC Auction Results

Posted February 3rd, 2012 by SRECTrade.

SRECTrade’s February 2012 SREC Auction closed this week. Below are the clearing prices by vintage across the markets SRECTrade is currently active in.

February SREC Prices	Energy Year Ending
State	2010	2011	2012*
Delaware	–	–	$60.00
Maryland In-State	$180.00	$205.00
Maryland Out-of-State	–	–
Massachusetts	–	–
New Jersey	–	–	$205.00
Ohio In-State	–	$285.00
Ohio Out-of-State	–	$40.00
Pennsylvania	$9.99	$30.00	$35.00
Washington, DC	–	$275.00

Notes:
*Delaware, New Jersey and Pennsylvania operate on a June-May energy year.
Green text represents a price increase over the last auction clearing price for that vintage, red text represents a decrease.
“-” reflects no sale, which would result if there were no matching bids and offers that cleared for a sale in the auction.

State Market Observations:

Please note, all capacity references are from the December capacity analysis and reference the amount of supply registered as of the end of December. Additional details regarding SREC issuance are provided in the capacity analysis.

Delaware (Supply: 25.5 MW | Demand: 19.8 MW): Pricing was down from $65.00/SREC to $60.00. The Delaware PSC approved the SREC Procurement Pilot Program for long term contract solicitations which should commence in Q2. As of January 3, 2012, PJM GATS reported the issuance of approximately 13,560 DE2011-12 vintage SRECs. Additional SRECs from prior eligible periods may also impact the market should there be a demand for these older vintage SRECs.

Maryland (In-state Supply: 37.8 MW | Demand: 27.6 MW): SRECs held at $205 this past auction period. MD2011 Out-of-State did not trade. The state continues on pace to maintain a balanced supply relative to demand for the compliance year.

Massachusetts (Operational Supply: 32.5 MW | Demand: 55.7 MW): There was no sale of MA SRECs this period as they were sold in the Quarterly SREC Auction in mid-January. The next quarterly MA SREC auction will close in mid-April.

New Jersey (Supply: 483.2 MW* | Demand: 368 MW): The 2012 market dropped back down to $205 after the state legislature failed to pass a Bill to increase the solar requirements. Inaction will lead to continued declines in pricing.

Ohio (In-State Supply: 29.0 MW; Out-of-state Supply: 68.0 MW | Demand: 39.1 MW) : OH2011 sited SRECs dropped to $285 with growing SREC supply from large in-state systems. The out-of-state SREC market increased again to $40/SREC.

Pennsylvania (Supply: 159.4 MW | Demand 41.2 MW): PA2011 SRECs traded up again to $30/SREC and PA2012 increased to $35/SREC.

Washington, DC (Supply: 21.7 MW | Demand: 41.9 MW): The 2011 DC SRECs increased to $275/SREC.

For historical pricing please see this link. The next SRECTrade auction closes on Thursday, March 1 at 5 p.m. ET.

Tags: Auction, Prices, REC, SREC, SREC auction prices, SREC Prices, SREC Sales, SRECs
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MA2011 SREC Auction Closes at $540/SREC

Posted January 18th, 2012 by SRECTrade.

The Q3 2011 (July – September 2011) MA SRECs were issued on January 15, 2012. Unlike other SREC markets, the MA Solar Carve-Out program mints SRECs quarterly, three and a half months after the close of the calendar quarter. In coordination with the Q3 2011 issuance, SRECTrade recently held a separate auction for MA2011 SRECs.

The auction closed on Tuesday, January 17th at 5:00 p.m. Eastern. SRECs transacted at a clearing price of $540.00 per SREC. The clearing price, more than 98% of the 2011 Solar Alternative Compliance Payment (SACP), represents a strong demand for MA2011 SRECs due to a shortfall of supply in the market.

MA Chart

The next SRECTrade auction closes on Tuesday, January 31, 2012. This auction will cover all of the SREC markets including DC, DE, MA, MD, NJ, OH, and PA. The order window is currently open. All buyers and self-serve sellers can login here to place an order. Sellers utilizing SRECTrade’s management service, EasyREC, will have orders automatically placed on their behalf. If these sellers need to make changes to their minimum offer prices, they must do so prior to the order window close on January 31 at 5:00 p.m. Eastern.

The next issuance of MA2011 SRECs will be on April 15, 2012, and will cover the Q4 2011 (October – December) generation period.

Posted in Massachusetts, SREC Markets, SREC Pricing | 1 Comment »

NREL SREC webinar will feature SRECTrade, NJ BPU and MA DOER

Posted January 17th, 2012 by SRECTrade.

On Wednesday, January 18th at 3pm EST (12pm PST), SRECTrade CEO Brad Bowery will join Mike Winka of the New Jersey Board of Public Utilities’ Office of Clean Energy (BPU OCE) and Mike Judge of the Massachusetts Department of Energy Resources (DOER) for a free webinar hosted by Lori Bird of the National Renewable Energy Laboratory (NREL).

The webinar will discuss the new NREL Report on the solar renewable energy certificate (SREC) markets. The comprehensive report written by Bird, Jenny Heeter and Claire Kreycik discusses key policy issues that define the structure of these markets and offers a state by state summary of how SRECs are utilized to meet RPS goals in a growing number of states.

Registration for the free webinar is still open and there are already over 500 participants enrolled. Please click here to register.

Among other data, the NREL Report dives into SREC market pricing, tracking spot and forward sales in each state. Below is a chart from the report reflecting spot market pricing on SRECTrade from a 2-year period between 2009 and 2011.

SREC Prices 2009-2011

To learn more, download the NREL Report and/or register here for the webinar at 3pm EST on January 18th.

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January 2012 SREC Auction Results

Posted January 10th, 2012 by SRECTrade.

SRECTrade’s January 2012 SREC Auction closed last week. Below are the clearing prices by vintage across the markets SRECTrade is currently active in.

January SREC Prices	Energy Year Ending
State	2010	2011	2012*
Delaware	–	–	$65.00
Maryland In-State	–	$204.99
Maryland Out-of-State	–	$35.00
Massachusetts	–	–
New Jersey	–	$245.00	$245.00
Ohio In-State	–	–
Ohio Out-of-State	$30.00	$35.00
Pennsylvania	–	$20.00	$29.99
Washington, DC	$250.00	$270.00

Notes:
*Delaware, New Jersey and Pennsylvania operate on a June-May energy year.
Green text represents a price increase over the last auction clearing price for that vintage, red text represents a decrease.
“-” reflects no sale, which would result if there were no matching bids and offers that cleared for a sale in the auction.

State Market Observations:

Please note, all capacity references are from the latest SRECTrade capacity analysis and reference the amount of supply registered as of the end of December. Additional details regarding SREC issuance are provided in the capacity analysis.

Delaware (Supply: 25.5 MW | Demand: 19.8 MW): Pricing increased slightly this period, trading up to $65.00/SREC. The Delaware PSC approved the SREC Procurement Pilot Program for long term contract solicitations. As of January 3, 2012, PJM GATS reported the issuance of approximately 13,560 DE2011-12 vintage SRECs. Additional SRECs from prior eligible periods may also impact the market should there be a demand for these older vintage SRECs.

Maryland (In-state Supply: 37.8 MW | Demand: 27.6 MW): SRECs declined slightly to $204.99 this past auction period. While not seeing any demand all year long, MD2011 Out-of-State traded at $35/SREC. The state continues on pace to maintain a balanced supply relative to demand for the compliance year. As 2011 compliance obligations are finalized, a shortage of SRECs in the state, if any, will be reflected by an increase in prices at the end of the trading period.

Massachusetts (Operational Supply: 32.5 MW | Demand: 55.7 MW): There was no sale of MA2011 SRECs this period. The next quarterly MA SREC auction will close on Tuesday, January 17, 2012.

New Jersey (Supply: 483.2 MW* | Demand: 368 MW): The 2012 market increased to $245 this auction period. Approximately 15% of the available supply in the auction cleared, representing a gap between buyer and seller’s expectation of value. Oversupply continues to grow as the state has averaged 32.0 MW installed per month since the beginning of the compliance period. October 2011 saw an increase in 41.2 MW. *Note: This figure represents the capacity registered in PJM GATS as of December 2011. Please reference the capacity analysis link above for details on NJ Office of Clean Energy installed capacity figures.

Ohio (In-State Supply: 29.0 MW; Out-of-state Supply: 68.0 MW | Demand: 39.1 MW) : There was no sale of OH2011 sited SRECs. The out-of-state SREC market saw activity, increasing in value from $30/SREC to $35/SREC.

Pennsylvania (Supply: 159.4 MW | Demand 41.2 MW): PA2011 SRECs traded up to $20/SREC and PA2012 increased to $29.99/SREC. HB 1508 will go before the Pennsylvania Commerce Committee this Wednesday, 1/11/12.

Washington, DC (Supply: 21.7 MW | Demand: 41.9 MW): Prices continue to increase as legislation closing the DC market borders and increasing requirements take effect on the market. The 2010 vintage cleared at $255.16/SREC, while the 2011 vintage cleared at $270/SREC. Note, the SREC and capacity figures do not take into consideration the amount of electricity delivered into the district that may be exempt from complying with the Distributed Generation Amendment Act increases, considering some electricity contracts may have been signed prior to the amendment’s implementation

For historical pricing please see this link. The next SRECTrade auction covering Q3 MA2011 generation closes on Tuesday, January 17 at 5 p.m. ET. The following auction covering all markets closes on Tuesday, January 31 at 5 p.m. ET.

Tags: Auction, Prices, REC, Solar, SREC
Posted in SREC Markets, SREC Pricing | Comments Off on January 2012 SREC Auction Results

Archive for the ‘SREC Pricing’ Category

May 2013 SRECTrade Auction Results

February 2013 SREC Auction Results

Maximizing SREC Returns

December 2012 SREC Auction Results

MA2011 SREC Auction Closes at $540/SREC

April 2012 SREC Auction Results

February 2012 SREC Auction Results

MA2011 SREC Auction Closes at $540/SREC

NREL SREC webinar will feature SRECTrade, NJ BPU and MA DOER

January 2012 SREC Auction Results

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