Posts Tagged ‘SREC-I’

MA 2018 Solar Credit Clearinghouse Auction Result Announcement

Posted July 26th, 2019 by SRECTrade.

On Thursday, July 25th, the Massachusetts Department of Energy Resources (DOER) announced that all of the MA2018 SREC Is and SREC IIs submitted to the auction account were transacted in the first round of the Solar Credit Clearinghouse Auction (SCCA).

A total volume of 9,780 SREC Is were bid on across 21 unique bidders, creating more than sufficient demand to clear the available auction volume of 632 SREC Is.

A total volume of 63,388 SREC IIs were bid on across 21 unique bidders, creating more than sufficient demand to clear the available auction volume of 4,626 SREC IIs.

DOER and EnelX are in the process of certifying and finalizing the auction results. More information will be made available on the SCCA webpage in the coming weeks.

If SRECTrade submitted SRECs to the SCCA on your behalf, we will provide further notice on the status of your transaction once the DOER and EnelX provide us with finalized auction results.

MA DOER Announces Solar Credit Clearinghouse Auction Results

Posted July 29th, 2016 by SRECTrade.

Today, the Massachusetts Department of Energy Resources (DOER) announced that both of the 2015 Solar Carve-out (SREC-I) and Solar Carve-out II (SREC-II) auctions have fully cleared in the first round.

Preliminary results for the SREC-I auction included 41 unique bidders submitting a total bid volume of 49,886 – more than sufficient demand to clear the available auction volume of 1,898 SRECs. Similarly, the results for the SREC-II auction included 9 unique bidders submitting a total bid volume of 112,252, which cleared the available auction volume of 67,046 SREC-IIs.

SCCA Auction Results3

The DOER and EnerNOC continue to certify and finalize the auction results, and will publicize more details on the final results on the SREC-I and SREC-II auction webpages next week.

MA DOER Announces Preliminary 2017 Compliance Obligation

Posted July 25th, 2016 by SRECTrade.

Friday, July 22, 2016, the Massachusetts Department of Energy Resources (DOER) announced the preliminary 2017 Solar Carve-out (SREC-I) and Solar Carve-out II (SREC-II) Compliance Obligations and Minimum Standards. Customarily, the DOER estimates these values prior to administering the Solar Credit Clearinghouse Auction each year. The final 2017 Minimum Standards will be announced on or before August 30th, after both the SREC-I and SREC-II Auctions have concluded.

Solar Carve-out (SREC-I)

Notably, the DOER projects that the final 2017 Compliance Obligation for the SREC-I program will be approximately 783,181 MWhs and that the Minimum Standard will be approximately 1.6313%. These values will be increased to 785,077 MWhs and 1.6352%, respectively, if the SREC-I auction does not fully clear in the first two rounds. The 2017 Minimum Standard for load under contracts signed before June 28, 2013 will be 0.9861%.

The DOER published a resource outlining its calculation of the preliminary SREC-I Minimum Standard.

Preliminary 2017 Compliance Obligation SREC-I Table

Solar Carve-out II (SREC-II)

Regarding the SREC-II Program, the DOER established a baseline Compliance Obligation and Minimum Standard that would have applied to Retail Electricity Suppliers had the RPS Class I Emergency Regulation not been filed on April 8, 2016; these suppliers are exempt from any additional obligations resulting from the expansion of the SREC-II Program Capacity Cap.

To calculate this baseline Minimum Standard, the DOER first determined the expected MWh/year that would have resulted had the SREC-II Program Capacity Cap remained 947 MW by:

  1. Identifying the percentage shares of MW currently qualified under each SREC-II Market Sector;
  2. Multiplying these percentages by the original 947 MW SREC-II Program Capacity Cap;
  3. Multiplying these totals by (1) their respective SREC Factors, (2) a 13.51% expected capacity factor, and (3) 8,760 hours/year.

The DOER then summed these values and combined the auction volume and banked SREC-II volume from the 2015 Compliance Filings, resulting in a baseline Compliance Obligation of 1,102,311 MWhs and a Minimum Standard of 2.2960%. These values will be increased to 1,169,357 MWhs and 2.4357%, respectively, if the SREC-II auction does not fully clear in the first two rounds.

Preliminary 2017 Compliance Obligation SREC-II Table 2

Additionally, the DOER calculated the preliminary 2017 SREC-II Compliance Obligation and Minimum Standard for load under contracts signed after May 8, 2016 – 1,496,188 MWhs and 3.1164%, respectively. These values will be increased to 1,563,234 MWhs and 3.2561% if the SREC-II auction does not fully clear in the first two rounds.

Preliminary 2017 Compliance Obligation SREC-II Table

The DOER also published a resource outlining its calculation of the preliminary SREC-II Minimum Standard.

Solar Credit Clearinghouse Auctions

The first rounds of the SREC-I and SREC-II Solar Credit Clearinghouse Auctions are scheduled for July 29, 2016. A second and third round will be held as needed the following week should these auctions not fully clear.

The DOER has also provided slight updates to the volumes of SRECs available in the Auctions: 1,896 in SREC-I and 67,046 in SREC-II.

SRECTrade will continue to monitor the proceedings of the Solar Credit Clearinghouse Auctions and will report the outcomes of the Auctions once the results become readily available.

Massachusetts Market Update Webinar – August 21st at 2 pm ET

Posted August 14th, 2014 by SRECTrade.

SRECTrade will host a webinar on Thursday, August 21st at 2 pm ET to review the Massachusetts SREC market.

The last several months in Massachusetts have been dynamic. The Massachusetts SREC-II program started on April 25, 2014. Also, sweeping legislation was proposed that would have fundamentally changed the Massachusetts solar  industry.

Items to be covered in Thursday’s webinar:

  • SREC-I and SREC-II market pricing and supply
  • The 3rd round successful outcome of the MA2013 SREC-I Solar Credit Clearinghouse Auction
  • Overview of the rise and fall of H.4185 (An act relative to net metering)
  • Next steps for net metering (and SREC policy) development in Massachusetts

Register for the webinar here.

Massachusetts SREC-I Application Deadline is this Thursday, April 24, 2014

Posted April 21st, 2014 by SRECTrade.

The final deadline for submitting completed SRECTrade applications for Massachusetts SREC-I program qualification is Thursday, 4/24/2014.  Please note that SRECTrade’s application deadline for SREC-I eligible systems was April 4, 2014. The Massachusetts deadline for SREC-I applications is April 24, 2014, but we cannot guarantee that applications submitted to SRECTrade after April 4, 2014 will be submitted to the DOER before the April 24th deadline for SREC-I eligibility.

Completed applications must be submitted online at www.srectrade.com and include the following documents:

Final “Permission to Operate (PTO)” from the interconnecting utility

Signed “Massachusetts Renewable Energy Certificates Purchase Agreement

Signed “Registration Consent” form

The Massachusetts SREC-II effective start date is Friday, 4/25/2014. Applications for facilities that are not yet qualified under SREC-I will be processed as SREC-II applications with the effective start of the SREC-II program.

Massachusetts Webinar Recording – Presented by SRECTrade and Mike Judge of DOER

Posted November 14th, 2013 by SRECTrade.

SRECTrade and Mike Judge of the DOER present the current status of the Massachusetts SREC-I program.  Additionally the webinar covers the regulatory process that the SREC-II program proposal must udergo before the SREC-II program may start. The webinar recording can be watched by clicking the image below.

November 2013 MA SREC webinar

 

Massachusetts SREC-I and SREC-II program updates

Posted November 5th, 2013 by SRECTrade.

The eagerly awaited MA  SREC-II program promises to keep the MA solar industry in over-drive, but when will it start and what happens between now and then? We’ve previously noted in our blog and bulletin emails sent to installers that moving forward SREC-I is separated into two applicant categories. There is still uncertainty about the SREC-II program design and timeline for its implementation, but we know that it may be implemented as early as Q1 2014.

SREC-I Projects 100 kW and Smaller

Projects 100 kW and smaller are eligible for the SREC-I program provided that they are installed and officially interconnected (permission to operate in hand) before the effective date of SREC-II. Our current understanding is that the effective date of SREC-II will likely be sometime after January 2014.

SREC-I Projects Larger than 100 kW

Projects eligible for SREC-I that are not fully interconnected by 12/31/13 must apply for an eligibility extension. Projects are eligible for extensions if they have spent at least 50% of the estimated project construction cost by 12/31/13.

SREC – I extension documents can be found here. Projects registered with SRECTrade should return these documents to us no later than Friday, 12/13/13 to guarantee that SRECTrade can send them to the DOER and confirm their acceptance.

SREC-II Is Still Not Official

We expect the DOER to formally propose the SREC-II program in early November 2013. Once this is done the proposal must undergo several formal review steps including a public comment period and legislative review period. Given these steps we anticipate that the review process will take 100 days or more. Assuming this timeline, the SREC-II program would be effective in February 2014.

Also, be aware that the formal proposal will likely include deviations from the DOER’s initial draft proposal that was submitted in August.

Here are the steps required prior to implementation of the SREC-II program.

Step #1 – File formal SREC-2 proposal with the MA Sec. of State

Step #2 – Hold Stakeholder Meeting in Boston (within 21 days of formal filing)

Step #3 – Assess public comments and post comments on DOER website

Step #4 – Submit Proposal to the Joint Committee on Telecommunications, Utilities, and Energy

Step #5 – Post to DOER website Joint Committee comments (30 days required)

Step #6 – Submit final draft to MA Sec. of State

Step #7- SREC-2 Program effective start (likely 14+ days after final submission to Sec. of State)

Massachusetts SREC Webinar, Thursday, 11/14 at 2 pm EST.

Posted November 5th, 2013 by SRECTrade.

SRECTrade will host a webinar covering the Massachusetts SREC market on Thursday, 11/14/2013 at 2 pm EST. Sign up for the webinar by clicking here or the image below.

What the Massachusetts SREC webinar will cover:

  1. The close out of the SREC-I program
  2. New SREC-II program rules and steps required for SREC-II to be implemented*
  3. Current Massachusetts SREC supply analysis
  4. Current Massachusetts SREC pricing

*UPDATE- November 12, 2013:  It is unlikely that the DOER will formally propose SREC-II in time for Thursday’s webinar. The DOER is now targeting the end November to formally post the SREC-II proposal. We will still cover the timeline for implementing SREC-II once it is formally proposed.

November 2013 MA SREC webinar