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Posts Tagged ‘DOER Last Chance Auction’

MA DOER Clarifies Purchasing Plan for Massachusetts 2012 SRECs

Posted August 6th, 2013 by SRECTrade.

Last Friday the Massachusetts Department of Energy Resources (DOER) announced that it would purchase any unsold SRECs deposited in the Solar Credit Clearinghouse Auction (SCCA) for $285 per SREC. Unlike the SCCA, this is a voluntary option. Depositors with SRECs in the SCCA will need to notify the DOER that they would like to take advantage of the offer by Wednesday, August 14th (an MA DOER set deadline). Any SRECs not purchased will be returned by the DOER to depositors’ accounts following the August 14 due date. Returned SRECs will be eligible to be transacted for 3 more years (2013, 2014, and 2015), but will not be eligible for any future Solar Credit Clearinghouse Auctions.

SRECTrade has made it easy for clients to sell their eligible SRECs to the DOER by including the DOER’s bid as a feature in their online account. SRECTrade clients with EasyREC accounts will need to log in to their accounts and indicate they would like to sell the applicable SRECs. All SRECs eligible for the DOER’s offer will sell for $285 per SREC, less SRECTrade’s EasyREC fees.

SRECTrade clients will have until Wednesday, August 14th at 9:00 am ET to log in to their SRECTrade account and opt to sell their eligible SRECs. Not all SRECTrade clients with facilities in Massachusetts are eligible for this transaction option. Only clients that had SRECs produced during 2012 and deposited in the SCCA are eligible.

SRECTrade account log in.

For additional information on the SCCA and the DOER’s bid for MA2012 SRECs please read our previous blog posts on the subject.

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May 15, 2013 Massachusetts SREC Webinar Posted

Posted May 21st, 2013 by SRECTrade.

SRECTrade recorded a webinar on May 15, 2013. The webinar covered the following topics:

  1. SREC prices and supply
  2. Massachusetts SREC policy
  3. The DOER SREC auction
  4. SRECTrade asset management and brokerage services

Please click this link to view the webinar recording. 

About the speakers

Steven - mug
Steven Eisenberg is the Vice-President of Business Development. Steven has been with SRECTrade since 2010 and is responsible for starting and managing SRECTrade’s growing brokerage and institutional SREC asset management business units.
Alex mug
Alex Sheets comes to SRECTrade from SunEdison. As SRECTrade’s Director of Environmental Markets, Alex assists buyers and sellers in originating, executing, and negotiating SREC transactions in the over the counter markets.
sam's resized headshot
Sam Rust is the Director of Business Development and Channel Operations, a role he has been in since 2011. Sam focuses on working with SRECTrade’s installer partners and commercial clients.

 

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Massachusetts Market Update Webinar

Posted April 24th, 2013 by SRECTrade.

MA SREC Webinar May 15 2013SRECTrade will host a webinar covering the Massachusetts SREC market on Wednesday, May 15, 2013 at 2 pm ET. The webinar will cover the rules and timeline for the DOER Solar Clearinghouse Auction.  Additionally, information provided by the DOER concerning applications eligible for the current 10 year opt-in term will also be reviewed. Lastly, as the program’s 400 MW cap is approached, the DOER will be implementing queuing and registration requirements. These intricacies will also be discussed. To register for the webinar please follow this link. The webinar recording will also be posted to SRECTrade’s blog.

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Update regarding Massachusetts DOER Solar Credit Clearinghouse Auction

Posted December 17th, 2012 by SRECTrade.

Earlier this month SRECTrade hosted a webinar on the Massachusetts SREC market. Since then, there have been a few questions relating to the Massachusetts DOER’s Solar Credit Clearinghouse Auction, informally referred to as the “Last Chance Auction.” Since there is a confirmed oversupply in Massachusetts for 2012, the Solar Credit Clearinghouse Auction will occur in July of 2013 for all unsold SRECs. The auction was designed as a “price support mechanism” for the Massachusetts SREC market, but it does not represent a “price floor,” a common misperception.

The specific dates of the auction are yet to be determined, but here is a rough outline of the timeline:

  • May 15th: Sellers may begin to deposit unsold SRECs int he Auction Account
  • June 15th: Deadline for sellers to deposit their unsold SRECs in the Auction Account (SRECTrade does this automatically for our customers)
  • Late June: Webinars, FAQs, Q&As will all be provided
  • July: Auction is held
  • August: Payments are made sometime in August
  • August 15th: Entire auction process (excluding payment delivery) must be completed by this date in order to commence 2013 SREC market activity

Here are a few key things to know about the auction:

  • All unsold SRECs must be deposited in the Solar Credit Clearinghouse Auction, otherwise they are forfeited by the seller and retired, having no value to the sellers (again, SRECTrade will ensure that every unsold SREC is deposited for our clients)
  • SRECs must be deposited in the auction by the original aggregator/account holder. 3rd party account holders are ineligible from participating in the Solar Credit Clearinghouse Auction
  • If the auction clears, sellers receive $285 per SREC (note: SRECTrade fees are applicable)
  • If the auction does not fully clear, every seller will sell an equal percentage of SRECs. If 50% of the auction clears, each seller will sell 50% of the SRECs deposited
  • SRECs that do not clear in the auction are returned to the seller with 3 additional years of life, so the SREC created in 2012 will have value to a buyer in 2013, 2014 and 2015
  • SRECs that do not clear in the auction are NOT eligible for any future Solar Credit Clearinghouse Auctions
  • If there is an oversupply, Buyers may “bank” up to 10% of their 2012 requirement and use them in 2013 or 2014

Here is the full webinar from December 5th, 2012:

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