Posts Tagged ‘DC Renewable Portfolio Standard’

Mayor Bowser Signs D.C. RPS Bill

Posted July 26th, 2016 by SRECTrade.

D.C. Mayor Muriel E. Bowser hosted a press conference yesterday to sign the Renewable Portfolio Standard Expansion Act of 2016. As enacted, B21-0560 raises the renewable portfolio and solar requirements to 50% and 5% by the year 2032, respectively, and adds waste heat from combined and sanitary sewage systems and effluence from wastewater treatment to the list of Tier 1 renewable sources. In addition, the bill increases financial penalties for electricity suppliers who fail to comply with the annual renewable energy portfolio standard requirements. This financial penalty is known as the Alternative Compliance Payment, or ACP. Finally, the bill establishes a program within the Department of Energy and the Environment to assist low-income homeowners with installing solar systems on their homes.

Councilmember Cheh introduced the bill earlier this year, and the Council unanimously passed the bill in late June. The expanded RPS not only increases access to clean energy for D.C. residents, but establishes a long-term pipeline for green jobs and businesses by raising demand for Tier 1 RECs and SRECs. The increased demand will incentivize the continued growth of D.C.’s solar industry, which has grown by 170% over the last year. The chart below summarizes the new RPS and Solar Carve-out schedule by requirement year.
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The total RPS requirement must be met by Tier 1 Renewable Sources, which includes the new sources added by the Expansion Act. In 2032 and thereafter, the District’s RPS will be set at 50% with a 5% solar carve-out. Please note that, although the SACP Schedule is changing for the 2017+ years from the current schedule, the RPS schedule for years 2017-2023 is unchanged under the Expansion Act. It is not until years 2024 and onward that the RPS requirements are changed by this new law.

Mayor Bowser is confident that the RPS Expansion Act will enable the District’s diverse populations to benefit from solar in a meaningful way. Speaking at her press conference, she said that the District “…will serve 100,000 low-income households by 2032—that’s more than 6,000 homes per year, and we’ll reduce their electricity bills by 50%, as a result. We’ll be creating at least 100 green  jobs in the first year with that number growing every year through 2032. That means reducing carbon emissions, lowering residents’ energy bills, and providing pathways to the middle class through the burgeoning marketplace of clean energy – all at the same time.”

The newly signed legislation is slated to become effective after the Congressional review period.

D.C. RPS Bill Passes Unanimously in Second Reading before the Council

Posted June 28th, 2016 by SRECTrade.

Today, the D.C. Council unanimously passed B21-0650, the Renewable Portfolio Standard Expansion Amendment Act of 2016, on its second reading. Now, the bill will pass to Mayor Bowser, who will have ten days to approve or veto the bill. Following the Mayor’s action, the bill will pass to Congress for consideration for thirty days.

The RPS Expansion Amendment Act of 2016 will increase the RPS and solar carve-out requirements to 50 percent and 5 percent by the year 2032, respectively, and increase alternative compliance payments (financial penalties) for electricity suppliers who fail to comply with RPS requirements. The raised RPS will increase demand for Tier 1 RECs and solar-carve out SRECs. In addition, the bill adds new resources to the list of Tier 1 renewable sources and establishes a program within the Department of Energy and the Environment to assist low-income homeowners with installing solar systems on their homes.

You can read our prior posts on the RPS bill here, and subscribe to our blog to stay up to date on the bill’s progress with the Mayor and Congress.

D.C. RPS Bill Passes in First Reading before the Council

Posted June 7th, 2016 by SRECTrade.

Today, the D.C. Council held its first hearing on B21-0650, the Renewable Portfolio Standard Expansion Amendment Act of 2016. The bill, which was introduced earlier this year, passed unanimously in the first hearing, but must still pass a second hearing in July, and a Council vote as early as mid-July, before it passes to the Mayor for signature.

The RPS Expansion Amendment Act of 2016 will increase the RPS and solar carve-out requirements to 50 percent and 5 percent by the year 2032, respectively, and increase alternative compliance payments (financial penalties) for electricity suppliers who fail to comply with RPS requirements.

You can read our prior post on the RPS bill here, and subscribe to our blog to stay up to date on the bill’s progress with the Council and Mayor.

D.C. Council Committee Holds Public Hearing on RPS Expansion Bill

Posted May 31st, 2016 by SRECTrade.

On May 23rd, Councilmember Cheh held a public hearing on three important energy and climate change bills currently under review by the Council: B21-0650, the Renewable Portfolio Standard Expansion Amendment Act of 2016; B21-0412, the Solar Energy Amendment Act of 2015; and B21-0369, the Commission on Climate Change and Resiliency Establishment Act. The Renewable Portfolio Standard Expansion Amendment Act of 2016, which was introduced to the Council in March, will increase the RPS and solar carve-out requirements to 50 percent and 5 percent by the year 2032, respectively, and increase alternative compliance payments (financial penalties) for electricity suppliers who fail to comply with RPS requirements. Additional goals of B21-0650, in conjunction with the goals of B21-0412 and B21-0369, aim to facilitate the continued growth of solar and other renewables in the District. Currently, the bills are under review by the Council’s Committee on Transportation and the Environment, which will consider the public comments and written testimony submitted in response to the Public Hearing.

With the public comment period closed, the Committee will move to hold a mark-up meeting as soon as June 1st to consider possible amendments to B21-0650. Following this meeting, the bill should be presented for a hearing on or around June 7th, with a second hearing in July, and a vote as early as mid-July.

For more information on the District of Columbia SREC market, please visit our D.C. market page.

SRECTrade will continue to provide updates on the status of the D.C. RPS bill as it progresses with the Council.

District of Columbia RPS Bill under review by D.C. Council Committee

Posted March 23rd, 2016 by SRECTrade.

On March 1st, 2016, D.C. Councilmember Cheh introduced the Renewable Portfolio Standard Expansion Amendment Act of 2016 (B21-0650) for legislative consideration before the Council of the District of Columbia. On this date, the Renewable Portfolio Standard (RPS) bill was referred to the Committee on Transportation and the Environment, where it remains under review to date. As introduced by Councilmember Cheh, this bill would serve to accomplish four goals:

  • Expand the list of Tier 1 renewable energy sources by incorporating (1) waste heat from combined and sanitary sewage systems and (2) effluence from wastewater treatment;
  • Increase the RPS and solar carve-out requirements to 50 percent and 5 percent by the year 2032, respectively;
  • Increase alternative compliance payments (financial penalties) for electricity suppliers who fail to comply with RPS requirements; and
  • Establish a Department of Energy and the Environment program to help low-income homeowners install solar systems on their homes.

Should the bill be enacted, the combination of increasing the overall RPS and solar carve-out requirements and raising the alternative compliance payments (ACPs) will increase market demand for D.C. solar renewable energy credits (SRECs). Increased demand for SRECs will provide price support for SREC values in the District and will encourage additional growth and adoption of solar in the nation’s capital.

For more information on the District of Columbia SREC market, please visit our D.C. market page.

SRECTrade will continue to provide updates on the status of the D.C. RPS bill as it progresses with the Council.

Distributed Generation Amendment Act of 2011 Implemented

Posted September 27th, 2011 by SRECTrade.

The Council of the District of Columbia and the city’s Mayor signed into law the Distributed Generation Amendment Act of 2011. SRECTrade closely watched this legislation as it evolved over the last 7 months. Our most recent blog on the subject is here. The Act ultimately focuses on providing a sustainable SREC market for the residents of Washington DC while containing the potential cost to ratepayers. The amendment increases the RPS solar requirements and closes the District’s boarders from out-of-district sited systems. The affect on the market is demonstrated in our Capacity Update of systems eligible to create DC SRECs moving forward.

This week, the PJM tracking registry (PJM GATS) is undergoing the process of de-certifying systems that were once eligible under the previous Washington DC RPS law. As per the new legislation, all non-Washington DC sited systems that were approved after January 31, 2011 by the DC Public Service Commission are no longer eligible to sell SRECs in the DC market. This cutoff date is clearly displayed by a customer’s DC State Certification Number; any certification number beginning “DC-10…-SUN-I” was certified before January 31, 2011, while any certification number beginning “DC-11….-SUN-I” was certified after that date.

What does this mean for the market?

While this law is not likely to cause DC SREC prices to rebound immediately to the level that was seen in 2010 (due to the fact that buyers have likely accumulated extra SRECs throughout the early part of this year, along with any forward contracts that were in place before the law was implemented), this law is an important step to alleviating the oversupply that has depressed DC SREC prices.

What does this mean for facilities certified after January 31, 2011?

Any facility not located within Washington DC with the state certification number beginning “DC-11…” has had their certification number de-activated. The facility is no longer eligible to generate future SRECs in the DC market, and any SRECs they have already created have lost their eligibility for the DC SREC market.

– If your facility falls under this category, and is already eligible to sell SRECs in another state, you will not see any disruption in your account except that you are no longer eligible for the DC market.

– If your facility is eligible to be certified for another SREC market, but you were only certified in DC, you can apply for certification in another state market. Please see this chart for more information on your eligibility.

– If your facility was originally only eligible for DC (i.e. your system is located in WI, NY, NC(non-Dominion Power territory) or you had a Solar Thermal system not located within Washington DC), PJM GATS will be listing your facility as “inactive”. Any SRECs you have created will not be eligible for sale, and you will not create future SRECs unless another market opens that allows your facility to be certified. Currently, solar facilities in this scenario are only eligible in the NC SREC market – but due to extremely low pricing in the oversaturated NC market, this option is not very viable for solar owners.

SRECTrade will continue to post opportunities for cross-listing SRECs in other state markets.