Posts Tagged ‘Massachusetts SRECs’

Massachusetts Governor Baker Releases Net Metering Bill to Rival Senate Bill

Posted August 13th, 2015 by SRECTrade.

Shortly before its summer recess, the Massachusetts Senate passed Amendment 18 to S. 1973 in a voice vote on July 23. Two weeks later, on August 7, 2015, Massachusetts Governor Charlie Baker released a net metering bill to rival S. 1973.

Both the Senate Bill and the Governor’s Bill address the net metering caps that are currently causing a slow-down in the Commonwealth’s solar development, and look to former Governor Patrick’s goal for the Commonwealth to install 1,600 megawatts of solar energy in Massachusetts by 2020. Earlier this year, the Baker-Polito Administration announced its support of the goal to achieve 1,600 MW by 2020. Accordingly, both S. 1973 and the Governor’s Bill propose to raise the net metering caps to meet the goal of 1,600 MW by 2020.

Under Amendment 18 to S. 1973, the Senate calls for raising the caps to 1,600 MW, and eliminating the caps thereafter (the elimination of the caps would apply to solar net metering facilities, with the exception that the maximum amount of generating capacity eligible for net metering by a municipality or other governmental entity shall be 10 megawatts), but the bill would do little else to change the value of a net metering credit. In addition to addressing the caps, the Amendment calls for Massachusetts regulators to “develop a solar incentive program to encourage continued development of solar…” with the goal of “develop[ing] a sustainable long-term framework that effectively balances promoting clean energy and costs to ratepayers,” to be implemented after the 1,600 MW target has been reached. Unfortunately, the Senate bill also attempts to limit the potential options for future programs, without much consideration for allowing the stakeholder process to consider all of the policy options presented by the Task Force in its Final Report (see below).

In contrast, Governor Baker’s Bill would substantially reduce the value of net metering credits in the Commonwealth. For solar projects over 10 kW on single phase, or projects over 25 kW on 3-phase, the value of net metering credits will be the average monthly clearing price in ISO-NE (that is, the wholesale retail rate). This would be a drastic change from the current value, which includes the value of all wires charges, such as distribution, transmission and transition charges. For other specific facilities, including municipal or other governmental entity (“MOOGE”) facilities, facilities for low-income off-takers and community shared solar facilities, the value of net metering credits will be based on the utility’s basic service kW charge, and will also exclude wires charges. The result of this exclusion in both categories is the value of credits being cut nearly in half. But like the Senate Bill, the Governor’s Bill also calls on Massachusetts regulators to “establish a solar incentive program for the development of distributed solar generation beyond 1,600 [MW] by solar photovoltaic facilities connected to a distribution or transmission system, which shall be a statewide program.”

Both the Senate Bill and the Governor’s Bill draw upon the recommendations from the Net Metering and Solar Task Force. The Net Metering and Solar Task Force was a group established last fall by the Massachusetts Legislature under Ch. 251 of the Acts of 2014, Section 7. The Task Force was responsible for reviewing the “long-term viability of net metering and develop recommendations on incentives and programs to support the deployment of 1600 MW of solar generation facilities in the commonwealth.” In its Final Report, the Task Force encouraged the Commonwealth to develop a solar incentive framework that would satisfy eight different program attributes, including promoting the orderly transition to a stable, equitable and self-sustaining solar market, and relying on market-based mechanisms and/or price signals as much as possible to set incentive levels such that the program would be readily adaptable to changing market conditions, all while minimizing costs, incentivizing diverse development, and promoting investor confidence. The Task Force cautiously qualified its recommendations by stating that “[t]he selection of a path for modeling is not an indication that a majority, or indeed any, of the Task Force members would like to see that path implemented,” and encouraged the DOER and DPU to lead a “comprehensive and transparent solar benefit/cost study to determine the value of impact of solar in Massachusetts” so that the Massachusetts Legislature, DOER, and DPU could more thoroughly evaluate the options presented by the Task Force, including the potential for an SREC III program to follow the highly successful SREC I and SREC II programs.

When the Legislature returns from its summer recess this Fall, the Joint Committee on Telecommunications, Utility and Energy will be confronted with the formidable task of reconciling these rival bills alongside the recommendations from the Net Metering and Solar Task Force, in order to help shape the future of solar in Massachusetts.

Massachusetts DOER Announces Net Metering and Solar Task Force

Posted November 6th, 2014 by SRECTrade.

On November 6, the DOER announced the establishment of the Net Metering and Solar Task Force, pursuant to Ch. 251 of the Acts of 2014, Section 7. Information on Task Force members, meetings, and materials are available on the official website of the Executive Office of Energy and Environmental Affairs (EEA) here.

The first Task Force meeting will take place on Thursday, November 13th from 2:00 to 5:00 p.m. ET, at the Massachusetts Department of Environmental Protection office in Boston.

Task Force meetings are open to the public, but the DOER has requested that attendees RSVP to, as space is limited. Although the meetings are open to the public, the DOER encourages stakeholders to work through Task Force members to provide input. In addition to the regular Task Force meetings, two Stakeholder meetings will be held to allow for public input.

There will be a call-in number for those who are not able to travel to Boston, which will likely be posted on the EEA site referenced above.

The Task Force members are:

Meg Lusardi, DOER Commissioner; Task Force Co-Chair
Kate McKeever, DPU Commissioner; Task Force Co-Chair
Benjamin B. Downing, Senator
Brian S. Dempsey, Representative
To Be Appointed By Senator Bruce E. Tarr
To Be Appointed By Representative Bradley H. Jones
Paul Brennan, Attorney General’s Office
David Colton, Easton Town Administrator
Robert Rio, Associated Industries of Massachusetts
Charles Harak, National Consumer Law Center
William Stillinger, PV Squared
Fred Zalcman, SunEdison
Janet Besser, New England Clean Energy Council
Geoff Chapin, Next Step Living
Lisa Podgurski, International Brotherhood of Electrical Workers Local 103
Camilo Serna, Northeast Utilities
Amy Rabinowitz, National Grid


MA DOER Releases 2012 SREC Requirement

Posted September 5th, 2011 by SRECTrade.

The Massachusetts Department of Energy Resources (DOER) recently announced the SREC requirement for the 2012 compliance year. The 2012 compliance requirement is based on a formula that takes into consideration the 2011 compliance obligation, the forecast 2011 total SREC generation, and the actual 2010 SREC generation. A growth rate is then applied to these figures based on a set formula for the MA SREC program. Additional considerations are made for the 2010 Alternative Compliance Payment (ACP) volume, the 2010 banked SREC volume, and the number of 2010 SRECs purchased through Solar Credit Clearinghouse Auction. For a detailed analysis of this formula and the considerations made for setting the 2012 requirement please see this link.

Upon running the figures, the DOER arrived at a 2012 compliance obligation of 81,559 MWhs or SRECs. This represents an increase over the 2011 standard by 2,982 SRECs, or approximately 3.8%. After factoring in the estimated load exemptions from the TransCanada settlement, the 2012 compliance year target is approximately 73,400 SRECs. This equals an increase of approximately 10,400 SRECs from the 2011 adjusted target of about 63,000 SRECs. Converting these figures to MW capacity, using a 1.13 MWh production factor per installed kW per year, 2012 will need the equivalent of approximately 65 MW online vs. the 2011 required capacity of approximately 55.7 MW. This step up in capacity represents an increase of 16.6%.

MA 2012 Capacity Req Graph

*Note: The 2011 and 2012 estimated megawatts required in the chart above have been adjusted for the impact of the TransCanada settlement.

MA DOER Seeks to Set Fixed SACP Schedule

Posted August 3rd, 2011 by SRECTrade.

On August 2, 2011, the Massachusetts Department of Energy Resources (DOER) proposed an amendment to the Solar Alternative Compliance Payment (SACP) schedule for the MA SREC program. Feedback from market participants including project developers, financing parties, and retail electricity suppliers indicated the current SACP structure creates uncertainty around future SREC valuation. Under the existing structure, the DOER has the ability to reduce the SACP on a yearly basis by up to 10% of the current value. The amended schedule seeks to provide more certainty for expected future prices while assisting project financing and negotiations for long-term SREC contracts.

The proposal establishes a 10-year schedule for the SACP that would maintain the current rate of $550/SREC through compliance year 2013, then decrease 5% each following year. The proposal also requires the schedule to be updated on a yearly basis to include a price for the 10th year of the schedule. For example, the 2022 price will be added to the schedule no later than January 31, 2012. The table below demonstrates the proposed schedule.

MA SACP Schedule 8_2_11

Prior to implementation, the proposed schedule is to go through a comment process. The comment period is currently open through August 15, 2011. Once all comments are collected, the DOER will review and begin the necessary process to amend the existing Solar Carve-Out provisions.

Mass DOER releases July statistics, SRECTrade continues to lead in Mass SREC market

Posted July 20th, 2011 by SRECTrade.

With the August SREC auction coming next Friday, July 29th, SRECTrade will post the first sale for 2011 SRECs in Massachusetts. Last week, the DOER released the most recently updated list of qualified and installed solar projects (excel download) in the state that are eligible for the solar carve-out. This gives us a unique opportunity to look behind the curtains and see what is going on in the SREC market.

Of the 649 projects that are operational, SRECTrade’s aggregation is by far the largest in the state, representing 36% of all facilities that are operational in Massachusetts. In terms of installed capacity, with nearly 3 MW of 19 MW installed as of July 11, the 16% share of capacity is second only to the state’s largest utility, National Grid who has installed 4 projects totaling 3.4 MW which represents 18% of the solar capacity in the market. That said, 16% understates SRECTrade’s presence in the Massachusetts since signing up for SRECTrade’s aggregation service is not a pre-requisite for selling through the platform.

Largest SREC Aggregations in Massachusetts

% of

Capacity Rank

% of

Facility Rank

National Grid










Totals: 649 Facilities / 19.0 MW

Although key features like transparent, competitive market pricing, low fees, no contracts to sign and online access to the SRECs that are not lumped together with other facilities have made SRECTrade an attractive option to solar owners, the success of the platform can ultimately be attributed to the network of installers that recommend it to their customers. According to the DOER’s report, 42 of the 111 installers with facilities in the ground have customers with SRECTrade, including 8 of the top 10 installers by volume.

Top Installers In SRECTrade’s Network as of July 11, 2011 (as published by DOER)
– My Generation Energy, Inc., Brewster, MA
– SunBug Solar, Somerville, MA
– Sunlight Solar Energy, Waltham, MA
– E2 Solar Inc., Hyannis, MA
– Alteris Renewables Inc., Natick, MA
– NorthEast Solar Design Associates, West Hatfield, MA
– South Mountain Company, Inc., West Tisbury, MA
– SolarFlair Energy, Inc., Framingham, MA

The SRECTrade aggregation is not a prerequisite to participate in the SRECTrade market. The platform is open to anyone in the market looking to sell SRECs. The improved fee structure makes SRECTrade a simple and inexpensive option for aggregations with SRECs to sell. The combination of an open platform and guaranteed volume coming from the state’s largest aggregation makes SRECTrade the top destination in Massachusetts for entities with compliance obligations.

MA DOER Updates Retroactive SREC Rules

Posted June 1st, 2011 by SRECTrade.

The DOER announced today that they will no longer be awarding retroactive credit for SRECs from generation prior to the current SREC generation period.

In simplified form, this change means that installers and system owners should get their EasyREC paperwork in as soon as their system is interconnected to the electric grid. By submitting immediately, the the DOER and MassCEC will have ample time to approve the system. Even for systems that go online at the end of Q1 (i.e. March 20th), the state will then have a full 3 months to get the system certified for Q1 SRECs on July 15th.

If a system was interconnected in Q1 but is not certified in DOER by July, then it’s first chance to create SRECs will be October 15th. On that date, DOER will only create Q2 SRECs, and will ignore any Q1 SRECs that would have been generated for the system on July 15th.

All recent applications to SRECTrade’s EasyREC service have already been submitted to DOER on the customer’s behalf, and thus are not going to be affected by this change. Feel free to follow up with us, though, if you would like to double-check your status.

If your system went online before March 31, 2011 and you have not yet submitted your application, go to our EasyREC page and fill out the forms as soon as possible!

How long will projects be eligible for the Massachusetts Solar Carve-Out?

Posted March 16th, 2011 by SRECTrade.

Understanding the length of time that Massachusetts solar facilities can generate and sell SRECs as part of the Solar Carve-Out is key to financing solar in the state. In an earlier post, we explained the Massachusetts Last-Chance Auction in great detail. The purpose was to help stakeholders understand the conditions, if any, that would result in the SREC market dropping below $285. From there, it is also important to understand how long a facility can bank on the floor price set by the auction.

The Opt-In Term is the length of time a facility is eligible for the Last-Chance Auction
There are a few misconceptions regarding the “10-year” Opt-In Term and the 400 MW Minimum Standard Cap. For example, it might seem that the program is slated to last 10 years or until it reaches 400 MW, after which the SRECs go away. This is most definitely NOT true. The Opt-In Term actually represents the length of time that a facility that is approved for the SREC program can opt into the Last-Chance Auction, i.e. the amount of time a facility is guaranteed a floor price in the market. Once a facility is approved, this term cannot be changed – though the Opt-In Term for future projects may be adjusted by the DOER (see below).

The 400 MW Cap is a limit to the amount that will be approved for the Solar Carve-Out
Meanwhile, the 400 MW cap is actually just a limit to the capacity of projects that can be eligible for the Solar Carve-Out. The 400th MW approved for the SREC program will be eligible for the full-length of the published Opt-In Term. This means that if Massachusetts reaches 400 MW in 2015 and the Opt-In Term is still 10 years, then the Solar Carve-Out will fade out in 2025. In simple terms: the state will accept 400 MWs into the program and every accepted facility will be guaranteed a floor of $285 for “X years” from the time it is installed. “X years” will vary based on the Opt-In Term established in the year of installation.

The Opt-In Term may change for future projects
Today, the Opt-In Term is 10 years and that will not change for any existing projects. However, every year, the DOER may make a change to the Opt-In Term for NEW facilities based on the results of the last-chance auction. If there is an oversupply, then the Opt-In Term may be decreased by as much as 2 years to a minimum of 5 until 2017, and a minimum of zero thereafter. If there is a shortage, the Opt-In Term may be increased to a maximum of 10 years.

The Solar Carve-Out expires when the Opt-In Term ends for the final project approved under the 400 MW Cap
Finally, facilities can continue to sell SRECs after the Opt-In Term as long as the Solar Carve-Out program is still in place. The only difference is that those facilities will no longer be eligible for the Last-Chance Auction and therefore are not supported by the $285 floor price. The Solar Carve-Out will expire after the Opt-In Term for the final project registered under the 400 MW Cap has concluded AND all remaining SRECs created during that time have either been sold or expired. After this time, all facilities will be transferred to the RPS Class I REC market (which by that time could be worth very little).

Here are the key paragraphs taken from the DOER Solar Carve Out website worth reading carefully:

Minimum Standard Cap and Termination of the Program
The Minimum Standard is capped at 455,520 MWh (sufficient to enable the installation of approximately 400 MW of solar PV). When DOER qualifies 400 MW of solar for the program, qualification of all additional solar installations is transferred to the RPS Class I Program. Once the cap has been met, the Minimum Standard for the RPS Solar Carve-Out will be set annually per regulation to maintain market balance. The RPS Solar Carve-Out program remains in effect until all the Auction Opt-In Terms of the qualified projects and the full shelf-life years of any Re-Minted Auction SRECs have both expired, thereby maintaining the price certainty promised to all solar generators. For the year after the final Compliance Year, when the Solar Carve-Out Minimum Standard is set to zero SRECs shall cease to exist, and all generation from qualified Solar Carve-Out Renewable Generation Units shall produce RPS Class I Renewable Energy Attributes.

Opt-In Term
The Auction Opt-­In Term is defined as the number of years (expressed in calendar quarters) that a project is eligible to deposit SRECs into the Solar Credit Clearinghouse Auction Account. For all projects qualified in 2010, this is set at 10 years, or 40 quarters. Any SRECs generated in this span of 40 quarters will be eligible to participate in an auction that will potentially be held each July, where they will be assured a price of $300/MWh for their SRECs (minus a $15 auction fee assessed by DOER). This mechanism sets a floor price for SRECs and gives projects long-­term price assurance should they be unable to sell them directly to LSEs or there be an oversupply of SRECs. Once a project’s Opt-In Term has expired, its owner may continue to sell their SRECs until the program officially ends, but will not have the price assurance guaranteed by the ability to Opt-­In to the auction.

Adjustments to Auction Opt-In Term
Long Market (SREC Oversupply) Adjustment: The Auction Opt-In Term is reduced by 4 quarters for each full 10% of the year’s Compliance Obligation that is deposited into the Auction Account. The maximum reduction per annual adjustment is two years. The minimum Auction Opt-In Term is 20 quarters or 5 years for the first 7 years of the program (through Compliance Year 2016). After that time, the minimum term is reduced to zero years, unless otherwise set by the Department of Energy Resources (DOER). Short Market (SREC Shortage) Adjustment: The Auction Opt-In Term is increased by 4 quarters for each full 10% of the year’s Compliance Obligation that is met through Alternative Compliance Payments. The maximum reduction per annual adjustment is two years. The maximum Opt-In Term is 40 quarters.

In conclusion, we will monitor the Opt-In Term as it is published each year by the DOER. The term will not change for existing projects once established, but it will impact new projects. Solar developers should consider this as they do project finance for facilities that may not be completed this year. Given the shortage in the SREC market in 2010, we do not foresee any changes to the Opt-In Term in 2011.

SRECTrade continues to offer long-term Fixed-Price and Upfront SREC payments for solar projects in Massachusetts.


DOER lowers Massachusetts SREC SACP from $600 to $550

Posted February 1st, 2011 by SRECTrade.

As we have written previously, the DOER’s Massachusetts Solar Carve-out has established an SREC market that could become the model that many states move towards in order to promote solar in the U.S. For an industry accustomed to the promotion of the feed-in tariff model, the Massachusetts market represents a hybrid between the market-based approach of SREC programs popular on the East Coast and the fixed-subsidy approach of the feed-in tariff model popular in Europe, though nearly non-existent in the U.S.

Through the use of a ceiling price set by a $600 SACP and a floor price set by a $300 last chance auction mechanism, the DOER is able to keep SREC prices within a manageable range. One of the significant caveats of the rules by which the DOER implements the solar carve-out is that it can, at its discretion (and with proof of justification) reduce the SACP by up to 10% in any given year. That announcement needs to be made by January 31st of that year and the DOER did just that yesterday on January 31st, 2011

According to the DOER, the ACP will drop by $50 from $600 to $550 for the 2011 SREC year. This means that any SRECs generated beginning in January and subsequently created beginning in July will have a ceiling of $550 instead of $600. The announcement and justification are found here:



Reduction of the Alternative Compliance Payment (ACP) Rate

January 31, 2011
DOER is authorized under 225 CMR 14.08(3)(b)2 to reduce the Alternative Compliance Payment (ACP) rate pertaining to the Solar Carve-Out portion of the RPS Class I obligation. Any such rate reduction may be no more than 10% in any one Compliance Year, must be announced by January 31st of that year, and must be accompanied by an explanation.

DOER hereby reduces the Solar Carve-Out ACP Rate to $550 per MWh, down by 8.3% from the program’s 2010 initial rate of $600/MWh. The new $550/MWh rate is effective for Compliance Year 2011 and thereafter, unless and until DOER makes a further reduction by January 31st of any subsequent year.

DOER has reached this decision after careful consideration and deliberation on the market conditions facing solar development in Massachusetts since 2009, when the original $600 ACP level was set. During this time, solar developers have enjoyed declining PV module costs and have used conservative financial assumptions.

Globally, over the past two years, PV module prices have experienced significant price drops, and some European solar feed-in tariff rates have been reduced. Locally, installed costs for projects qualified for the Solar Carve-Out have trended downward between 5% and 10% since the beginning of the program. Elsewhere, Lawrence Berkeley Laboratory reports installed solar PV prices dropping in 2010 about $1/W in the major PV markets in California and New Jersey ( DOER remains committed to the growth of our solar market and to achieving this growth at lowest cost to Massachusetts electric customers.

The discretion of the DOER in making this change has been clear from the rules set at the outset of the program. It is surprising that this adjustment would happen so early in the adoption of the program, particularly given the shortfall of SRECs in Massachusetts in the first year of the program. However, the 2010 shortage is not necessarily a reflection of the feasibility of financing solar in Massachusetts with the solar carve-out in place. It likely has more to do with the amount of time it takes to implement the program logistically, the time it takes to educate stakeholders, and the time it takes to go to the retail and institutional markets with the new, SREC-driven economics. In the states that have come before, the full adoption of SREC-based economics has taken 3-4 years. Ohio is a full two-years into the program and the industry is still catching up (though Ohio’s problem has more to do with a flawed design). Massachusetts may see adoption quicker given a growing industry consciousness around SRECs and a program that can *almost* be simply described as you install solar, you get back $300-$600 per megawatt-hour that your system produces in addition to your electricity savings/sales for 10-years.

That *almost* is where we are today as the implications of a reduced SACP brings some of the caveats of the program to the forefront. That range of pricing has now been squeezed to $300-$550, and it also means that anyone following the SREC market should start to wonder if $550 will be $500 in 2012 and $450 in 2013 and at some point this just turns into a fixed feed-in tariff at $300. One thing is clear: the DOER has created a program that gives it the levers necessary to make it flexible enough to keep pace with solar industry trends and that the DOER will not hesitate to pull those levers.

As we mentioned, the ability of the DOER to adjust the ceiling price was apparent in the rules, but there is no mention that anything can be done to change the $300 fixed-price in the last chance auction. We believe that this was a cornerstone to the program. And the only apparent variable with the floor price is the Opt-In term which sets the number of years a facility may be eligible for the last-chance auction – initially set at 10 years.

Finally, as the largest aggregation and market in Massachusetts, SRECTrade has been partnering with buyers to extend various options to our network of installers. These options now include upfront payments and 5-year+ fixed-price contracts for facilities of all sizes. Our goal is to ensure that our customers have every possible option available when making a decision on how best to go solar with the Massachusetts solar carve-out. Installers can learn about joining our network here: SRECTrade Installer Network.


Massachusetts DOER Raises Solar Requirement for 2011

Posted June 17th, 2010 by SRECTrade.

The Massachusetts DOER made its final changes pertaining to the implementation of the solar carve-out program in the state’s RPS class I revised regulation. Most noteworthy of the changes, the DOER increased the solar requirement for the 2011 energy year to 69MW, or a total of 78,577 MWh. The increase in the solar requirement is a welcome development for SREC markets in Massachusetts, coming on the heels of the TransCanada legislation, which reduced the solar requirement for Massachusetts (more information on the TransCanada legislation here). This is a good indication that the state has levers it can pull to ensure the state supports a thriving SREC market, providing the market with some stability.

This should serve to counterbalance the change prompted by the TransCanada settlement that exempts certain buyers from the solar carve-out.

To see the all the changes made to the legislation see the RPS Class I Revised Regulation with Tracked Changes.

Massachusetts SRECs 101

Posted June 8th, 2010 by SRECTrade.

What is an SREC? Solar Renewable Energy Certificates (SRECs) are created for every megawatt hour of electricity produced by solar generators. A 10 kW system produces about 12 SRECs a year. SRECS are sold separately from electricity, and the solar power generated does not need to be used for the SREC to be created.

Who buys SRECs? Electricity suppliers must buy SRECs to meet the Massachusetts RPS requirement. Threatened by a Solar Alternative Compliance Payment (SACP) of $600 per megawatt hour if they do not comply, these companies will pay up to this price for SRECs.

How do I sell SRECs? Since individual solar owners do not produce enough SRECs to sell direct to buyers, an intermediary mechanism must exist. SRECTrade created the SREC auctions to connect sellers directly to the buyers in the market in a simple, efficient and effective way. The closing price of each auction represents the fair market price based on supply and demand.

Massachusetts SREC Pricing: State has set up a controlled market for SRECs that creates a price range of $300-$600 per SREC. There are several levers available to the state to ensure that pricing stays within this range.  First, the electricity suppliers who fall short of their SREC requirements must pay a fine of $600 per SREC. This sets a ceiling price of $600. In years where there is an SREC shortage, pricing will be close to $600. If there is an oversupply of SRECs, then market prices will be at or near $300. The state ensures this floor price by having a last chance fixed-price auction at the end of the year. Buyers can bid to purchase the SRECs that are available at $300 per SREC. If there are still unsold SRECs remaining after this auction, the state will adjust the capacity requirements for the following year to compensate for this surplus and allow increase the life of the unsold SRECs from 2-years to 3-years. This will ensure a stable SREC price and give solar owners an assurance that prices will be above $300.

Massachusetts Solar Requirement: The state has set the requirement for the SREC program at 30 megawatts of solar in 2010. That is the equivalent of approximately 36,000 SRECs that need to be produced and purchased by suppliers in 2010.

Massachusetts SREC Program Logistics

  1. SRECTrade will submit PV project application to the DOER. Once this application is approved, their solar facility will be added to the NEPOOL GIS tracking platform, where SRECs will be created and transacted.
  2. Solar electricity generation is reported to the Production Tracking System (PTS).
  3. SRECs are generated quarterly in NE-GIS and are then posted in the SREC auctions.
  4. The state has committed to the program for 10 years. Each SREC is valid for 2 years, so an SREC created in 2010 can also be sold in 2011.

SRECTrade Aggregation Logistics

  1. Fill out the forms to enroll in EasyREC
  2. SRECTrade will submit your application to the DOER for approval and set up your SREC account – this takes a few weeks
  3. Once set up, SRECTrade will collect your readings at the beginning of each month using an online form or internet-enabled inverter
  4. SRECs are generated quarterly by NE-GIS
  5. SRECTrade hosts monthly auctions on the first Friday of each month. You will be notified of the result after each auction. Possible results include:
    1. Successful: X SRECs sold at Y Price
    2. Unsuccessful: Y Price was below minimum, X SRECs not sold
    3. No SRECs: None were available in this auction
  6. If successful, payments will be delivered by the end of the month via direct deposit or mailed check. If unsuccessful SRECs are carried forward to next auction

EasyREC customers own their SRECs until sold in auction or contracted in the Forwards Exchange.

For More Information: