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Posts Tagged ‘MD’

Maryland SREC Market Update

Posted July 13th, 2021 by SRECTrade.

On June 1, 2021, Maryland Governor Larry Hogan allowed Senate Bill 65 (SB 65) to pass into law without his signature. SB 65 revises Maryland’s Renewable Portfolio Standard (RPS), decreasing the solar carve-out from 2022-2029 while increasing its solar alternative compliance payment (SACP) from 2023-2029. The new law still requires 50% of MD electricity sales from Tier I renewable energy resources with a 14.5% solar carve-out by 2030.

This adjustment to Maryland’s RPS should bring a more gradual increase to the solar carve-out requirement. Our enclosed analysis projects the 2021 market and forward years to be undersupplied – we expect the degree of undersupply to increase in years 2022 and 2023 and show a moderate decrease in year 2024. The forecasted degree of undersupply seen in years 2022-2024 has seen a substantial decrease from our previous analysis due to the recent reductions in RPS. While we project that the new changes to Maryland’s RPS will decrease the degree of undersupply seen in forward years, build rates still must show a substantial increase in order to keep up with the new RPS schedule.

Current MD SREC pricing has been consistent over the last few months with 2021 SRECs pricing around $77.50, 97% of the ACP and 2022 SRECs pricing around $57.00, 95% of the ACP.

Final 2021 MD SREC production, final 2021 MD load figures, and actual grandfathered load could impact the degree of undersupply seen in 2021 and forward years.



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Maryland Renewable Portfolio Standard Updated Without Governor’s Signature

Posted June 4th, 2021 by SRECTrade.

On Tuesday, June 1st, Maryland’s updated Renewable Portfolio Standard (RPS) took effect after Governor Larry Hogan allowed Senate Bill 65 (SB 65) to pass into law without signature. The new law still mandates that Maryland source 50% of its electricity sales from Tier I renewable energy sources by 2030, with a 14.5% solar carve-out. Notably, the law decreases Maryland’s solar carve-out from 2022-2029 and increases its solar alternative compliance payment (SACP) rate from 2023-2029. The bill originally cleared the Maryland legislature on April 12th by significant majorities.

The new law also removes black liquor, a paper mill byproduct, from the list of eligible Tier I REC resources.

SRECTrade plans to publish an analysis on the impacts that this law could have on Maryland’s SREC market in the coming weeks.

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House Economic Matters Subcommittee Votes Against Maryland RPS Bill

Posted March 15th, 2018 by SRECTrade.

On Wednesday, March 14th, the Maryland House Economic Matters subcommittee voted against the Clean Energy Jobs Act of 2018 (HB 1453), a bill that would have expanded the state’s Renewable Portfolio Standard (RPS). Among other measures, the bill aimed to increase the state’s RPS solar requirement to 14.5% by 2030 and its total RPS requirement to 50% by 2030; at present, the state’s RPS solar requirement is 2.5% by 2020 and total RPS requirement is 25% by 2020. A majority of the Public Utilities Subcommittee voted for an “unfavorable motion” on the bill.

The bill’s lead sponsor, House Majority Leader C. William Frick (Dem), announced the night of the 14th that he was withdrawing the bill before a full vote of the Economic Matters Committee. The 100% Clean Renewable Energy Equity Act of 2018 (HB 878), a bill designed to raise the state’s RPS to 100 percent by 2035, was also withdrawn on the 14th.

The Clean Energy Jobs Act of 2018 was supported by more than 660 faith groups, environmental organizations, unions, and civic leaders. Proponents of the bill are looking to pass the bill in 2019 after making it an important election issue this year.

For our latest Maryland SREC Market update click here. For more information on the Maryland Clean Energy Jobs Act’s proposal, please view our previous blog post on the topic here.

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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.

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MD to Accept In-state Solar Water Heating Systems for SREC Market

Posted May 27th, 2011 by SRECTrade.

Maryland recently passed legislation which will allow residential-scale in-state solar water heating systems (SWH) installed on or after June 1st 2011 to sell SRECs into the MD SREC market.  Eligible systems will, at a maximum, be able to produce 5 SRECs per year. The law does not go in to effect until January 1st 2012, so even if the system is installed now it will be another few months before they can monetize their SRECs. The bill states that eligible SWH systems are those that are not used solely for heating a pool or hot tub and are either metered by a device that meets the standards of the “International Organization of Legal Metrology” (OIML) or be OG-300 certified.

Another requirement is that the SWH collectors (the product that captures the sun’s heat) must be a “glazed liquid-type flat-plate or tubular solar collector by the OG-100 standard of the Solar Ratings and Certification Corporation (SRCC).”

Because SWH systems produce heat and not electricity, output is measured in British Thermal Units (BTUs) and not kW-hrs. In order for these systems to produce SRECs equivalent to their PV-system counterparts, they must be certified and metered in a way that can allow for accurate measuring and unit conversions. By multiplying each BTU by a conversion factor of .000293, one can determine the kWh equivalent production from the system. As a point of reference, a single a 21 ft2 flat plate solar thermal collector located in Baltimore, MD that has a conversion efficiency of 60% may produce as many as 2 SRECs per year.  Conversion efficiencies and BTU output will vary depending on the type of SWH panel used.

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Solar Capacity in the SREC States – December 2010

Posted January 5th, 2011 by SRECTrade.

SRECTrade SREC Markets Report: December 2010

The following post outlines the megawatts of solar capacity certified and/or registered to create SRECs in the SREC markets SRECTrade currently serves.

PJM Eligible Systems

As of the end of December, there were 11,241 solar PV (11,015) and solar thermal (226) systems registered and eligible to create SRECs in the PJM Generation Attribute Tracking System registry. Of these eligible systems, 35 (~0.3%) have a nameplate capacity of 1 megawatt or greater, of which only 3 systems are greater than 5 MW. The largest system, currently located in Ohio, is 12 MW,  and the second largest, located in Chicago and eligible for the PA and DC markets, is 10 MW. The third largest system, located in NJ, is 5.6 MW.

Massachusetts DOER Qualified Projects

As of December 10, 2010, there were 180 MA DOER qualified solar projects; 156 operational and 24 not operational. Of these qualified systems, 9 (~5.0%) have a nameplate capacity of 1 megawatt or greater, of which only 2 are between 1.5 and 2 MW. None of the projects greater than 1 MW are currently operational.

Capacity Summary By State

The tables below 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. For example, PA In State includes projects eligible to sell into the PA SREC market as well as projects that may also be eligible to sell into OH and DC. 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. For example, New Jersey needs approximately 255 MW online for the entire 2011 reporting year to meet the RPS requirement. Additionally, the data presented below 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 to date.

Dec JPEG Image updated

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