SRECTrade will host a webinar on Thursday, December 11th at 2 pm ET to review the Massachusetts SREC market.
Items to be covered in the webinar:
Register for the webinar here.
TweetThe following post is a monthly update outlining the megawatts of solar capacity certified to create SRECs in the Solar REC markets that SRECTrade serves. All PJM data is based on the information available in PJM GATS as of the date noted. All MA data is based on the information provided by the DOER as of the date noted. This analysis does not include projects that are not yet registered and certified with the entities noted herein.
A PDF copy of this table can be found here.
There are 51,711 facilities registered in GATS as of 11/13/2014. See below for a more detailed breakdown.
There are 297 projects over 1 MW in capacity (up three from September), representing 864.6 MW or 43.5% of the qualified capacity. The largest projects in PJM are concentrated in NJ and MD. There are 38 projects over 5 MW or larger. These make up 18.8% of all qualified capacity in PJM. The top 5 largest projects are listed below.
SREC-I Program
The Massachusetts SREC-I program was capped on June 30, 2014, however 46.5 MW of solar is still listed as Qualified but not operational on an update report issued by the DOER on 11/12/2014. In total, 656.2 MW of capacity is listed as currently qualified, of which 609.7 MW of capacity is operational.
SREC-II Program
The SREC-II program opened on April 25, 2014. The program is broken in to Market Sectors. For a detailed overview of the regulations regarding SREC-II please visit here. As of 11/12/2014, 164.7 MW of capacity is currently qualified under the SREC-II program, but only 34.4 MW is operational.
The tables above demonstrate the capacity breakout by state. Note, that for all PJM GATS registered projects, each state includes all projects certified to sell into that state. State RPS programs that allow for systems sited in other states to participate have been broken up by systems sited in-state and out-of-state. Additional detail has been provided to demonstrate the total capacity of systems only certified for one specific state market versus being certified for multiple state markets. For example, PA includes projects only certified to sell into the PA SREC market, broken out by in-state and out-of-state systems, as well as projects that are also certified to sell into PA and Other State markets broken out by in state and out of state systems (i.e. OH, DC, MD, DE, NJ). PA Out-of-State includes systems sited in states with their own state SREC market (i.e. DE) as well as systems sited in states that have no SREC market (i.e. VA). Also, it is important to note that the Current Capacity represents the total megawatts eligible to produce and sell SRECs as of the noted date, while the Estimated Required Capacity – Current and Next Reporting Year represents the estimated number of MW that need to be online on average throughout the reporting period to meet the RPS requirement within each state with only that particular compliance period vintage. For example, New Jersey needed approximately 496.7 MW online for the entire 2013 reporting year to meet the RPS requirement with 2013 vintage SRECs only. SRECs still available from prior eligible periods can also impact the Solar RPS requirements. Additionally, the data presented above does not include projects that are in the pipeline or currently going through the registration process in each state program. This data represents specifically the projects that have been approved for the corresponding state SREC markets as of the dates noted.
Note: SREC requirements for markets without fixed SREC targets have been forecast based on EIA Report “Retail Sales of Electricity by State by Provider” updated 11/8/13. Projected SRECs required utilizes the most recent EIA electricity data applying an average 1.5% growth rate per forecast year. The state’s RPS Solar requirement is then multiplied by forecast total electricity sales to arrive at projected SRECs required. Projected capacity required is based on a factor of 1,200 MWh in PJM states and 1,160 MWh in MA, generated per MW of installed capacity per year.
TweetOn 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 Marissa.Fimiani@state.ma.us, 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:
| Member |
|---|
| 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 |
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As of November 4, 2014, below is a summary of indicative pricing across the SREC markets SRECTrade covers (for a PDF copy click here). For November 2014 auction results, scroll down.
Note: All pricing and notes included are indicative and subject to change. Please contact us for most current markets. If a market is not quoted herein, please contact us directly for further information.
SRECTrade’s November 2014 SREC Auction closed on 11/4/2014. The clearing prices presented below are representative of transactions executed through the SRECTrade auction. This does not include over the counter spot and forward contract transactions completed through SRECTrade’s brokerage desk. For more information on our brokerage services for corporate clients please click here. Below are the clearing prices by vintage across the SRECs transacted in the auction.
| Auction Prices | SREC Vintage Year | |||
| State | 2012 | 2013 | 2014 | 2015 |
| Delaware | N/A | N/A | N/A | N/A |
| Maryland | N/A | $130.00 | $135.00 | N/A |
| Massachusetts SREC-I | N/A | N/A | $274.01 | N/A |
| New Jersey | $160.50 | $168.01 | $178.00 | $183.00 |
| Ohio Sited | $22.71 | $22.71 | $30.00 | N/A |
| Ohio Adjacent | N/A | N/A | $30.00 | N/A |
| Pennsylvania | N/A | $22.55 | $35.00 | $33.00 |
| Washington, DC | N/A | N/A | $485.00 | N/A |
The next SRECTrade auction for the PJM and MA SREC markets will close on Tuesday, December 2, 2014 at 5 p.m. ET.
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