Solar Thermal SRECs in DC

SRECTrade recently began registering solar thermal facilities in Washington DC and North Carolina.  The North Carolina program is in the final stages of being setup and we will provide more information when it is available.  Meanwhile, we’ve already sold our first solar thermal SRECs in the DC market at $290.  Here are some guidelines and information in regards to the requirements to register solar thermal systems in Washington DC:

Are solar thermal SRECs valued the same as solar photovoltaic SRECs sold in auction?
Yes, in DC and NC, solar thermal facilities can be approved to generate SRECs that have the same value to buyers purchasing to meet state compliance requirements.  Any auction for SRECs in DC will include solar PV and solar thermal SRECs sold at the same price.

What if my facility is not eligible in Washington, DC or North Carolina?
Both DC and NC allow out-of-state facilities to qualify, so many states are eligible to sell into these markets.  If your state is not eligible to sell into DC or NC, then the RECs produced by your facility have no value to buyers in the state compliance markets (i.e. our buyers).  You may still however be able to find ways to sell the RECs in voluntary or non-solar compliance markets – also known as generic REC markets.  There are companies out there that may help.

What else should I know about selling SRECs as a solar thermal facility?
Keep in mind the DC SREC market is a relatively small market and could someday be oversubscribed.  We are hopeful that the market for solar thermal SRECs will grow beyond DC as other states follow suit, however, as with any markets, there are risks associated with the market value of SRECs in DC.

What are the requirements for reporting production and generating SRECs?

Residential:
System must be SRCC-300 rated.  Here’s the link to the approved systems if you don’t already have it: http://securedb.fsec.ucf.edu/srcc/annual_search.  DC will used the energy saved in kWh as your generation for the year.  For example, a 2400 kWh system would receive 200 kWh per month and once the accumulation hits 1000kWh an SREC will be credited to their account

Commercial:
1.  Displaces < 10,000 kWh per year – can use SRCC 300 rating, SRCC-100 panel rating, or use an OIML meter
2.  Displaces > 10,000 kWh per year – must use OIML approved meter

Here are the exact details of the requirements from the Clean and Affordable Energy Act of 2008:

(1) For nonresidential solar heating, cooling, or process heat property systems producing or displacing greater than 10,000 kilowatt hours per year, the solar systems shall be rated and certified by the SRCC and the energy output shall be determined by an onsite energy meter that meets performance standards established by OIML.
(2) For nonresidential solar heating, cooling, or process heat property systems producing or displacing 10,000 or less than 10,000 kilowatt hours per year, the solar systems shall be rated and certified by the SRCC and the energy output shall be determined by the SRCC OG-300 annual system performance rating protocol applicable to the property, by the SRCC OG-100 solar collector rating protocol, or by an onsite energy meter that meets performance standards established by OIML; and
(3) For residential solar thermal systems, the system shall be certified by the SRCC and the energy output shall be determined by the SRCC OG-300 annual rating protocol or by an onsite energy meter that meets performance standards established by OIML.”.

Hopefully this clarifies the solar thermal process in Washington DC.

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Tags: solar thermal renewable energy credit, solar thermal srec, solar thermal srecs