Archive for the ‘SREC Markets’ Category

DOER Solar Stakeholder Meeting June 11th from 2-4pm at Federal Reserve Bank Boston

Posted June 10th, 2014 by SRECTrade.

Last Friday, the DOER released a joint-proposal made by regulated utilities in Massachusetts and a small group of solar industry stakeholders to lift the Massachusetts net metering caps in exchange for the end of the Massachusetts SREC program in 2015. The DOER will host an open stakeholder meeting to discuss the legislative proposal on Wednesday, June 11th from 2:00 – 4:00 pm ET at the Federal Reserve Bank in Boston (600 Atlantic Ave).

To attend Wednesday’s meeting you must RSVP by emailing doer.srec@state.ma.us with the subject “June 11th RSVP”. Government issued ID must be presented at entry.

Below are PDF links to both the draft legislation and the DOER’s own highlights of the legislation’s salient points.

Steven Eisenberg (CEO) and Alex Sheets (Director of Environmental Markets) will represent SRECTrade at the meeting.

June 2014 SREC Pricing Update and Auction Results

Posted June 4th, 2014 by SRECTrade.

As of June 3, 2014, below is a summary of indicative pricing across the SREC markets SRECTrade covers (for a PDF copy click here). For June 2014 auction results, scroll down.

2014_06_03_SRECTrade_SREC_Markets__for blog

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. 

Additionally, SRECTrade’s June 2014 SREC Auction closed on 6/03/2014. 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 2011 2012 2013 2014
Delaware $65.00 $65.00 $65.00 N/A
Maryland N/A $135.00 $135.00 $135.00
Massachusetts N/A N/A $270.01 N/A
New Jersey N/A $177.00 $177.00 $181.17
Ohio Sited N/A N/A N/A N/A
Ohio Adjacent N/A N/A N/A $45.00
Pennsylvania N/A $45.00 $45.00 $45.00
Washington, DC N/A $475.00 N/A $482.00

The next SRECTrade auction for the PJM and MA SREC markets will close on Tuesday, July 15th, at 5 p.m. ET.

This document is the copyright of SRECTrade, Inc. No portion of this document may be photocopied, reproduced, scanned into and electronic system or transmitted, forwarded or distributed in any way without prior consent of SRECTrade, Inc.

OH State Legislature Passes Anti-Renewable Energy Bill with 53-38 Vote

Posted May 29th, 2014 by SRECTrade.

May 28, 2014 – The Ohio State House passed SB 310 in a historic 53-38 vote today. SB 310, touted as a pro-consumer, pro-business bill, weakens Ohio’s existing Alternative Energy Portfolio, calling it too expensive for Ohio ratepayers. This despite analysis that shows the actual cost to Ohio ratepayers is likely less than $5 per household per year. Instead, SB 310, freezes the current standards in place through 2016 and allows all of Ohio’s renewable energy requirement to be met by facilities located in Ohio and bordering states. Should Ohio Governor Kasich sign SB 310, (the bill passed the Ohio Senate on May 8, 2014), Ohio ratepayers will subsidize renewable energy in other states, without any state-level guarantee for renewable energy in Ohio itself.

Click here for Twitter-based public reaction.

Regardless of your sentiments about renewable energy, SB 310 is overtly anti-ratepayer and bad for renewable energy jobs in Ohio. This is a step back for Ohio’s renewable energy economy and sends a clear signal to the business community that Ohio’s commitments are not to be trusted.

SB 310 will be immediately sent to Governor Kasich’s desk to sign a day after his office launched a new OhioMeansJobs website. Kasich’s decision to veto or sign SB 310 will test the meaning of his commitment to Ohio’s economic future.

If you are an Ohio resident, please contact Governor Kasich’s office and let him know your opinion.

Governor Kasich

Phone Number: (614) 466-3555

Complete List of Kasich Office Staffers’ Names and Contact Information

 

 

Ohio House Public Utilities Committee Passes SB 310: Full House Vote Imminent

Posted May 27th, 2014 by SRECTrade.

Today, May 27, 2014, the Ohio State House Public Utilities Committee passed the House version of SB 310 by a vote of 13-9. It is likely that the Ohio House will vote on the bill sometime this week.  If passed by the House and signed by  Ohio Governor Kasich, SB 310 would freeze Ohio’s renewable energy targets through 2016 and allow all of the state’s renewable energy targets to be met by facilities located in Ohio and bordering states.  The bill already passed the Ohio Senate on May 8, 2014.

SB 310 faces clear opposition from members of Ohio’s business and renewable energy stakeholder groups. Notably the Ohio Manaufacturers’ Association (OMA) testified before the House Public Utilities Committee on May 14th saying that SB 310 is bad for business. SB 310 is a step back for renewable energy advocates in Ohio and as written does not serve the general interests of Ohio ratepayers. In effect, the bill would have Ohio ratepayers subsidize renewable energy in other states while undermining the renewable energy economy within Ohio.

If you are an Ohio resident with an interest in continuing to grow Ohio’s clean energy industry, please use this list to express your point of view by contacting your State House Representative.

http://www.ohiohouse.gov/members/member-directory

SRECTrade will continue to posts updates as appropriate.

 

Ohio Legislature poised to pass legislation freezing Renewable Portfolio Standard

Posted May 21st, 2014 by SRECTrade.

As mentioned in our May 9th blog post, the Ohio State Senate passed SB 310. If signed in to law, the bill that would reduce the Ohio mandate for renewable energy installations, and allow the mandate for renewable energy in Ohio to be completely met with out-of-state facilities. The house version of the bill is up for consideration this week and is supported by Ohio Governor John Kasich who is quoted as saying that Ohio’s RPS mandates are, “simply unrealistic and will drive up energy costs for job creators and consumers.”

Overall, however, the financial impact of the Ohio RPS on ratepayers is likely quite low and represents approximately 0.45% of the total cost of electricity that Ohioans pay, or about $5 per average ratepayer per year. A more in depth analysis by SRECTrade of the RPS cost to OH ratepayers can be found here.

Breaking News: Ohio State Senate Passes Renewable Portfolio Standard Freeze

Posted May 9th, 2014 by SRECTrade.

Yesterday, May 8, 2014, the Ohio State Senate passed SB 310. The legislation calls for a temporary freeze of the Ohio Renewable Portfolio Standard (RPS) at current levels through 2016. The legislation must also pass the Ohio State House and be signed by the Governor before becoming law. Please see the proposed amendment to the percentage of renewable  in the image below.

The Ohio RPS defines the amount of SRECs required each year in Ohio. The number of OH certified SRECs increases annually according to a schedule defined by the RPS. If the RPS is frozen at current levels, the number of SRECs required will remain at approximately 194,178 SRECs per year (through 2016), rather than increasing next year to approximately 246,363 SRECs*.  The legislation also calls for removal of the requirement that at least 50% of the state’s renewable energy requirement be met by facilities physically-sited in Ohio. Instead, the RPS would be amended to allow the entire requirement to met by facilities located in Ohio and neighboring states.

The outcome of these two changes in policy would likely lower the value of SRECs generated in Ohio. Further, the policy precedent that this legislation sets might increase the cost of financing renewable energy projects,  an outcome that is counter to the assumed justification (the supposed high cost of renewable energy) for freezing the RPS at current levels.

If you are an Ohio resident we recommend contacting your state representative immediately. Let them know that you don’t support the move to reduce the Ohio RPS. Click below for the contact information for all members of the Ohio House of Representatives.

Ohio House of Representatives Directory

*SREC estimates are based on the Energy Information Administration (EIA) annual OH electricity usage in MW-hrs as of 10/1/2012. The 2014 OH RPS requires .12% of all electricity to come from solar. SRECs reflect one (1) MW-hr of solar power production.
Note: Ohio-sited facilities, sited in PJM territory, are eligible to cross register in the Pennsylvania SREC market. Like the Ohio SREC market, the Pennsylvania SREC market is oversupplied, but it does provide another option for monetizing SRECs. SRECTrade clients with OH-sited facilities may request PA certification through the facility “Settings” page in their SRECTrade.com accounts.

SB 310 Screenshot

Source: Ohio State Legislature website

DC and MD SREC Market Update Webinar Posted

Posted May 8th, 2014 by SRECTrade.

SRECTrade hosted a webinar on Tuesday, 5/6/2014, outlining the DC and Maryland SREC markets. A recording of the webinar is available by clicking the image below.

A link to a PDF of the presentation can be found here.

May 2014 SREC Pricing Update and Auction Results

Posted May 3rd, 2014 by SRECTrade.

As of May 1, 2014, below is a summary of indicative pricing across the SREC markets SRECTrade covers (for a PDF copy click here). For May 2014 auction results, scroll down.

2014_05_01_SRECTrade_SREC_Markets__for blog

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. 

Additionally, SRECTrade’s May 2014 SREC Auction closed on 5/01/2014. 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 2011 2012 2013 2014
Delaware $50.00 $50.00 $50.00 N/A
Maryland N/A $130.01 $130.01 $134.00
Massachusetts N/A N/A $262.01 N/A
New Jersey N/A $162.52 $167.52 $175.37
Ohio Sited N/A N/A N/A $57.01
Ohio Adjacent N/A N/A N/A $49.99
Pennsylvania N/A $48.01 $50.01 $53.00
Washington, DC N/A N/A N/A $482.00

The next SRECTrade auction for the PJM and MA SREC markets will close on Tuesday, June 3 at 5 p.m. ET.

This document is the copyright of SRECTrade, Inc. No portion of this document may be photocopied, reproduced, scanned into and electronic system or transmitted, forwarded or distributed in any way without prior consent of SRECTrade, Inc.

Massachusetts SREC-II Launches, Official Filing Posted

Posted April 30th, 2014 by SRECTrade.

The Massachusetts SREC-II program officially launched on Friday, April 25th. The official filing can be  found here and program guidelines are here. However, the application window for the new program does not open until May 6th. Any applications submitted to SRECTrade prior to May 6th will be processed with the Massachusetts Department of Energy Resources (DOER) starting on May 6th.

Once a facility receives a Permission to Operate (PTO) from its interconnecting utility, SREC-II applications should be submitted using SRECTrade’s online application. Applicants may also apply for an Assurance of Qualification from the DOER provided that the application meets certain criteria outlined in the “How to apply in the Assurance of Qualification with SRECTrade” section below. The DOER’s official guidelines for Assurance of Qualification are here.

Key highlights of the MA SREC-II program

  1. MA SREC-II system owners can actively market offers to sell SRECs. Contact us directly to help facilitate any orders.
  2. The total capacity of the SREC-II program will be determined after the final SREC-I capacity is announced; by July 31, 2014 (i.e., 1,600 MW less Total SREC-I qualified capacity)
  3. Facilities are separated by Market Sectors based upon facility type, size and other characteristics. See below.
  4. Market Sector eligibility determines the ratio of SRECs issued relative to power produced. See below.
  5. Facilities greater than 650 kW DC in capacity, that are not eligible for other Market Sectors, fall under the Managed Growth sector.
  6. Unlike other Market Sectors, the Managed Growth sector is capped year over year. The 2014 capacity limit is 26 MW. The 2015 capacity limit is 80 MW.
  7. Facilities are eligible to apply for an Assurance of Qualification (i.e., a place in the SREC-II program assuming other future criteria are met) without first obtaining a Permission to Operate (PTO). This is most relevant for systems that fall under Managed Growth.
  8. Given the limited capacity of the Managed Growth sector, we recommend that impacted facilities apply for an Assurance of Qualification. It is expected that this capacity will be filled quickly.

Click here for a PDF of slides (complete with program definitions) and here for a link to a recording of our webinar covering the launch of SREC-II. Below is the summary of the various SREC-II Market Sectors:

Market Sectors and Factors

How to Apply for an Assurance of Qualification with SRECTrade

You may apply for an Assurance of Qualification using SRECTrade’s online application starting Tuesday, May 6th. If you would like to submit the Assurance of Qualification documentation prior to May 6th, please contact us directly.

What’s Required to Submit an Assurance of Qualification?

Assurance of Qualification applications require the same information needed for a Statement of Qualification application. Additionally, the information detailed below is also required and must be uploaded to SRECTrade’s online application form.

  1. An executed Interconnection Service Agreement (ISA), as tendered by the distribution company;
  2. Adequate site control (a sufficient interest in real estate or other contractual right to construct the Unit at the location specified in the Interconnection Service Agreement); and
  3. All necessary governmental permits and approvals to construct the Unit with the exception of ministerial permits, such as a building permit, and notwithstanding any pending legal challenge(s) to one or more permits or approvals.

Please note, SREC-II Assurance of Qualifications will be filled based on date of application submission. The ISA date of execution will serve as a tie breaker for applications submitted on the same day, and if the ISA date is the same for multiple applicants, the DOER will utilize a lottery process to determine the queuing position of the Assurance of Qualification application. Additionally, the DOER has provided preliminary guidance that the first week of Assurance of Qualification submissions will be treated as if they were submitted on the same day. For example, date of submission from May 6th through May 13th, will not be used to determine receipt of Assurance of Qualification. Rather, the ISA will be the first determining factor.

Also, the DOER has been recommending that projects outside of the Managed Growth category do not need to submit an application for Assurance of Qualification. There will be plenty of room under the SREC-II cap and it is not necessary during the initial stage of the program. Lastly, smaller residential and commercial projects (i.e., 25 kW and less) will likely be provided room under a future provision as the program gets close to meeting its cap.

For applications related questions

Allyson Umberger
Director of Regulatory Affairs and General Counsel
allyson.umberger@srectrade.com
(415) 763-7790

For brokerage related questions

Alex Sheets
Director of Environmental Markets
alex.sheets@srectrade.com
(802) 989-2617

For installer related questions

Sam Rust
Director of Business Development
sam.rust@srectrade.com
(415) 729-3546

Other contacts

Steven Eisenberg
Chief Executive Officer
steven.eisenberg@srectrade.com
(415) 702-0863

Tom MacKenty
Associate, Environmental Markets
tom.mackenty@srectrade.com
(415) 409-8537

 

DC and MD SREC Market Update: Tuesday, 5/6 @ 2 pm ET

Posted April 28th, 2014 by SRECTrade.

SRECTrade will host a webinar covering the latest pricing and supply numbers for the Washington, DC and Maryland SREC markets.

The webinar is open to the public and will be held on Tuesday, 5/6/14, at 2 pm ET.

Click here to register

DC MD Webinar Screen