Posts Tagged ‘SREC Auction Results’

January 2014 Auction Results

Posted January 20th, 2014 by SRECTrade.

SRECTrade’s January 2014 SREC Auction closed on 1/15/14. Below are the clearing prices by vintage across the markets sold in the auction.

SREC Prices SREC Vintage Year
State 2011 2012 2013 2014*
Delaware $41.00
Maryland $130.00 $140.00
Massachusetts $250.00
New Jersey $160.01 $169.00 $169.00
Ohio In-State $48.00
Ohio Out-of-State $48.00 $48.00 $48.00
Pennsylvania $40.01 $42.51 $47.00
Washington, DC $480.00

Notes: *Delaware, New Jersey and Pennsylvania operate on a June-May energy year. For example, current vintage “2014” SRECs are generated beginning in June of 2013.
– 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


DE SRECs for the June 2013 – May 2014 period transacted at $41.00/SREC. The primary buyer for DE SRECs is Delmarva Power and Light (DPL) and most SRECs are sold through DPL’s SRECDelaware program which allows SREC asset owners to submit competitive applications in order to obtain 20 year SREC contracts. There continues to be limited need for SRECs outside of DPL’s program and demand outside the procurement program is expected to decrease over time.


MD2012s and MD2013s  transacted at $130.00 and $140.00/SREC, which was identical to the pricing posted in the December auction. Sellers may expect slightly higher demand over the next month as buyers close out their calendar year 2013 compliance requirements.


2013 vintage SRECs cleared at $250.00 up from the $241.01 auction price posted during the October 2013 Q2 SREC issuance. The $250 auction price is more or less in line with recent brokered spot trades outside of the auction.

New Jersey

NJ2013 and NJ2014 SRECs transacted at $169.00/SREC, a rough increase of 25-30% from the December 2013 auction. Pricing reflects slower than expected build rates in NJ. The current last six month (LSM) average is 11.7 MW, against a last twelve month (LTM) average of 16.9 MW.


OH sited and adjacent SRECs priced at $48/SREC in the January 2014 auction. The market remains over-supplied. Of note, for the first time OH sited SREC pricing fell in line with out-of-state OH SREC pricing likely related  to 1) the closing of the 2013 compliance year and 2) an increase in Pennsylvania SREC demand where out-of-state eligible SREC accounts are heavily cross-listed.


PA2012s, PA2013s and PA2014s traded at $40.01, $42.51 and $47.00/SREC respectively – roughly doubling December’s prices. The PA SREC market remains over-supplied, but future RPS increases and fewer lower priced offers available in the market has lead to an increase in price. 

Washington, DC

DC is an under-supplied market so highly limited volumes of older vintage SRECs are available. No SREC transactions occurred for the DC2011 and DC2012 vintages. DC2013s transacted at $480/SREC, which is 96% of the $500 SACP.

For historical auction pricing please see this link. The next SRECTrade auction for all SREC markets closes on Wednesday, February 5th at 5 p.m. ET.

November 2011 SREC Auction Results

Posted November 1st, 2011 by SRECTrade.

SRECTrade’s November 2011 SREC Auction has completed. Below are the clearing prices at which SRECs traded this month.

November SREC Prices Energy Year Ending
State 2010 2011 2012*
Delaware $88.99
Maryland In-State $174.98 $200.00
Maryland Out-of-State
Massachusetts $535.00**
New Jersey $670.00 $225.00
Ohio In-State $380.00
Ohio Out-of-State $55.00
Pennsylvania $10.00
Washington, DC $119.00 $150.00

*Delaware, New Jersey and Pennsylvania operate on a June-May energy year.
**Massachusetts Q2 auction occurred on October 17th
Green text represents a price improvement over October, 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:

Delaware (Supply: 22.7 MW | Demand: 19.5 MW): Legislation increasing the SREC requirement went into effect this past June but the market has yet to pick up in response. Stakeholders in DE continue to work to wards a long-term SREC contract solicitation program for new facilities. This program should be approved within the next month. Meanwhile, the SREC market will likely pick up at the end of the energy year when electricity suppliers are more active.

Maryland (Supply: 30.8 MW | Demand: 26.9 MW): SRECs continue to hover around $200. The state seems on a good pace to maintain a balanced supply relative to demand. As 2011 comes to an end, a shortage of SRECs in the state, if any, will be reflected by an increase in prices at the end of the trading period in the first quarter of 2012. Out-of-state SRECs continue to be a non-factor in Maryland.

Massachusetts (Supply: 27.1 MW | Demand: 55.7 MW): Mass SREC values rose to $535 in the Q2 2011 sale on October 18th. This trend should continue as the SREC shortage becomes more apparent. The next big quarterly MA SREC auction will close on Monday January 16th. In the meantime, solar owners can offer unsold SRECs in our regular monthly auctions.

New Jersey (Supply: 448 MW | Demand: 368 MW): The 2012 market continues to rebound up to $225 from $205 last month. As more buyers become active in the 2012 market, prices should continue to correct, though the oversupply continues to grow as 18 more megawatts were added in September.

Ohio (Supply: 82.0 MW | Demand: 37.7 MW) : In-State SRECs demand dropped slightly. Activity in the out-of-state SREC market increased this month.

Pennsylvania (Supply: 146.4 MW | Demand 40.4 MW): HB 1508 was recently introduced to address the state’s SREC market. This marks the beginning of a long process to rescue the PA SREC market. Until then, SRECs will continue to bottom out.

Washington, DC (Supply: 21.4 MW | Demand: 41.9 MW): Prices continue to increase as new legislation closing the DC market borders and increasing requirements take effect on the market.

For historical pricing please see this link. The order period for the December auction will close on Wednesday, November 30, 2011 at 5:00 p.m Eastern. For more information, please visit