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U.S. International Trade Commission Finds ‘Injury’ in Solar Tariff Case

Posted September 22nd, 2017 by SRECTrade.

On Friday, September 22nd, the U.S. International Trade Commission (ITC) unanimously voted that imported solar equipment has inflicted “serious injury” on domestic manufacturers. The decision is in favor of Suniva and SolarWorld’s petition under Section 201 of the 1974 Trade Act, wherein the petitioners argued that solar equipment imports have impaired domestic manufacturers’ ability to compete.

Following this finding, the ITC will hold a hearing on Tuesday, October 3, 2017 in Washington D.C. to evaluate potential trade remedies. The ITC will make its remedy recommendation to President Trump by November 13, 2017, ultimately leaving the decision on whether to impose a remedy in Trump’s hands. Considering the President’s demands for more tariffs on imported goods, it seems that a tariff on solar equipment imports is probable. President Trump will have 60 days after the ITC’s recommendation to issue his decision.

In their petition, SolarWorld and Suniva request a remedy of tariff levels of 40 cents per watt on imported cells and a floor price of 78 cents per watt on modules, either of which would negatively impact jobs and solar development across the U.S., with devastating impacts in states without renewable energy mandates. According to the Solar Energy Industries Association (SEIA), the implementation of such a tariff could eliminate 88,000 jobs in solar installation, sales and construction.

Notably, the ITC vote carved out that U.S. manufacturers have not sustained injury from Singaporean and Canadian solar cells and modules, the finding of which could create the potential for these countries to become free trade zones. Singapore’s integrated solar equipment manufacturer, REC, could benefit greatly from this lack of injury finding.

SEIA President and CEO, Abigail Ross Hopper, assured the industry that the organization remains committed to its opposition-advocacy efforts, saying that “As the remedy phase moves forward, I am determined to reach a conclusion that will protect the solar industry, our workers and the American public from what amounts to a shakedown by these two companies.”

SRECTrade will continue to monitor and provide updates on the remedy hearings, recommendation, and Trump’s final decision.

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Urge Gov. Kasich to Veto HB554 and Revive Ohio’s Renewable Energy Industry

Posted December 16th, 2016 by SRECTrade.

Since early November, the Ohio Legislature has been working on bills to address the imminent thawing of the state’s frozen RPS–which has been stalled at 2014 levels for the past two years. Without legislative action, the standards would resume their upward trajectory moving forward, but members of the Ohio Legislature have instead set forth bills that would weaken the RPS and cause even more harm to the state’s suffering renewable energy industry. On December 15, after passing in the Senate and in the House, 18-13 and 56-34, respectively, HB554 was sent to Governor Kasich’s desk for signature or veto. The bill would make the state’s RPS obligations optional for two years (after which they would resume as mandates), ensuring the continued stagnation of the state’s renewable energy economy for another two years.

During the 2014-16 freeze, utility companies reduced–or in some cases completely suspended–renewable energy and energy efficiency programs and services. Clean energy companies had no choice but to leave Ohio. As a result, Ohio’s wind industry lost more than 1,400 jobs in 2015 alone. Today, Ohio’s projected growth for clean jobs is only at 4.9%. In order to get back on track, the industry needs a jolt of support that can only come from the reinstatement (or better yet, a bolstering) of the RPS and Energy Efficiency Resource Standard (EERS).

While proponents of the bill claim that switching the energy standards to optional would reduce costs, opponents of the bill know that optional standards are the functional equivalent of having no standards at all. Senator Cliff Hite, R-Findlay, who represents a district with hundreds of wind farms, knows that optional standards will not work–for the same reason why good coaches don’t have optional practices.

Earlier this year, while seeking the Republication nomination for President, Gov. Kasich told a New Hampshire crowd that he would reinstate the RPS if the legislature attempted to gut the policies. Now, all eyes are on Gov. Kasich to see whether he sticks to his campaign words from January and helps the renewable energy economy get back on the right track. Environmental advocates and opponents of the bill urge constituents to call the Governor’s Office and urge him to veto the bill. You can call his Office today at (614) 466-3555.

The bill hit Gov. Kasich’s desk late on December 15, so he has until midnight on December 28 to veto the bill.

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Congress Passes Extension of Investment Tax Credit (ITC) for Solar

Posted December 18th, 2015 by SRECTrade.

Earlier today, Congress passed the FY 2016 Omnibus Appropriations bill, which includes tax extenders and $1.1 trillion in government funding. The spending package includes a pivotal extension of the federal investment tax credit (ITC) for solar energy. The bill is the result of a bicameral and bipartisan compromise, by which Congressional Democrats pursued the extension of this federal subsidy as partial compensation for lifting the ban on US crude oil exports. At first, Democrats believed that the bill would be a loss for the environment, but Democratic leaders urged their party members to recognize the net benefits of extending support for renewable energy development.

“May the force be with you,” quipped Senator Dianne Feinstein (D-CA), encouraging her fellow Senators to vote in favor of the package just hours after the House passed the bill. The bill passed both chambers of Congress by impressive majorities. The House approved by a 316 to 113 vote, and the Senate approved by a 65 to 33 vote.

While existing law provided the 30% solar ITC through the end of 2016, the extension guarantees 30% through 2019, declining to 26% in 2020 and 22% in 2021. After 2021, the 10% credit for Section 48 (commercial) projects will remain in place, per existing law. However, the bill includes “commence-construction” provisions that allow projects to qualify if they come on-line by the end of 2023. These extensions will help states to meet their Renewable Portfolio Standard and other renewable energy goals by helping project owners offset the cost of investing in renewable energy. The federal ITC, coupled with additional incentives, such as Solar Renewable Energy Credits (SRECs), encourages investment in renewable technologies across the country.

The ITC extension will undoubtedly have a significant impact on the solar industry. Experts project that the extension will increase solar installations by 54 percent (compared to a non-extension scenario) and create a 20 GW annual solar market through 2020. The extension is expected to impact utility-scale solar the most, where installations could increase by as much as 73% through 2020. Comparatively, residential installations are expected to experience a 35% growth, and commercial installations are expected to grow by 51%. This anticipated development will spur economic growth and an anticipated incremental investment of $40 billion in the solar industry.

After proposing an extension of the ITC in his 2016 budget earlier this year, the passage of this bill reinforces President Obama’s inaugural commitment to addressing climate change and protecting the planet for future generations. The bill also follows the historic adoption of the Paris Climate Agreement, which was made at COP21 in Paris earlier this month. Although the Agreement still needs to be adopted by the U.S. Government, the President is resolute that the Agreement will survive Republican opposition and become law. In a statement following COP21, President Obama said that “this moment can be a turning point for the world[,]” and this bill is certainly a step in the right direction for America’s commitment to the new international goal.

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Posted in Grants and Rebates, Installers, Solar Financing, SREC Markets, State RPS, Washington, DC | Comments Off on Congress Passes Extension of Investment Tax Credit (ITC) for Solar

SRECTrade SREC Markets Report: June 2013

Posted July 14th, 2013 by SRECTrade.

SRECTrade SREC Markets Report: June 2013

The following post is a monthly update outlining the megawatts of solar capacity certified to create SRECs in the Solar REC markets SRECTrade serves. All PJM data is based on the information available in PJM GATS as of the date noted. All MA data is based on the information provided by the DOER as of the date noted. This analysis does not include projects that are not yet registered and certified with the entities noted herein.

A PDF copy of this table can be found here.

Capacity_June2013

Overview of PJM Eligible Systems

As of July 10, 2013 there were 36,115 solar PV and 720 solar thermal systems registered and eligible to create SRECs in the PJM Generation Attribute Tracking System (GATS). Of these, 247 (0.67%) have a nameplate capacity of 1 megawatt or greater. Twenty-seven of these projects have a nameplate capacity of 5 MW or greater. New Jersey continues to host most of the larger scale facilities, claiming home to 63.0% of the projects, 17 of 27 facilities, that are equal to or greater than 5 MW. The three largest projects are a 29.1 MW FirstSolar project in MD, the 25.1 MW PSE&G utility pole mount project located in NJ, and the 16.1 MW Mount St. Mary’s project in MD.

NJ Office of Clean Energy Estimated Installed Capacity Through 6/30/13: On July 09, 2013, the New Jersey Office of Clean Energy announced total installed solar capacity reached 1,094 MW; an increase of approximately 15.7 MW over May’s total capacity.

Massachusetts DOER Qualified Projects

As of June 28, 2013, there were 6,326 MA DOER qualified solar projects; 6,165 operational and 161 not operational. Total qualified capacity is 401.9 MW; 221.6 MW of which is operational and 180.3 MW is not operational under the current 400 MW SREC program. Also on July 12, 2013, the MA DOER published a new Pending SQA list demonstrating the projects that are currently under review for a statement of qualification under the current solar carve-out program.  There are 1,435 projects (862 operational and 573 not operational) totaling 277.3 MW on this list (21.3 MW operational and 256.0 MW not operational). Fore more information refer to our blog posts covering the current SREC program.

How to Interpret This Table

The tables above 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. Additional detail has been provided to demonstrate the total capacity of systems only certified for one specific state market versus being certified for multiple state markets. For example, PA includes projects only certified to sell into the PA SREC market, broken out by in-state and out-of-state systems, as well as projects that are also certified to sell into PA and Other State markets broken out by in state and out of state systems (i.e. OH, DC, MD, DE, NJ). 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 with only that particular compliance period vintage. For example, New Jersey needed approximately 496.7 MW online for the entire 2013 reporting year to meet the RPS requirement with 2013 vintage SRECs only. SRECs still available from prior eligible periods can also impact the Solar RPS requirements. Additionally, the data presented above 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 as of the dates noted.

Note: SREC requirements for markets without fixed SREC targets have been forecast based on EIA Report “Retail Sales of Electricity by State by Provider” updated 10/1/12. Projected SRECs required utilizes the most recent EIA electricity data applying an average 1.5% growth rate per forecast year. The state’s RPS Solar requirement is then multiplied by forecast total electricity sales to arrive at projected SRECs required. Projected capacity required is based on a factor of 1,200 MWh in PJM states and 1,130 MWh in MA, generated per MW of installed capacity per year.

 

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SRECTrade SREC Markets Reports: May 2013

Posted June 13th, 2013 by SRECTrade.

SRECTrade SREC Markets Report: May 2013

The following post is a monthly update outlining the megawatts of solar capacity certified to create SRECs in the Solar REC markets SRECTrade serves. All PJM data is based on the information available in PJM GATS as of the date noted. All MA data is based on the information provided by the DOER as of the date noted. This analysis does not include projects that are not yet registered and certified with the entities noted herein.

A PDF copy of this table can be found here.

 Capacity_May2013

Overview of PJM Eligible Systems

As of June 10, 2013 there were 35,136 solar PV and 706 solar thermal systems registered and eligible to create SRECs in the PJM Generation Attribute Tracking System (GATS). Of these, 238 (0.66%) have a nameplate capacity of 1 megawatt or greater. Twenty-five of these projects have a nameplate capacity of 5 MW or greater. New Jersey continues to host most of the larger scale facilities, claiming home to 60.0% of the projects, 15 of 25 facilities, that are equal to or greater than 5 MW. Unchanged from the last couple of months, the three largest projects are a 29.1 MW FirstSolar project in MD, the 25.1 MW PSE&G utility pole mount project located in NJ, and the 16.1 MW Mount St. Mary’s project in MD.

NJ Office of Clean Energy Estimated Installed Capacity Through 5/31/13: On June 11, 2013, the New Jersey Office of Clean Energy announced that total installed solar capacity reached 1,078.4 MW; an increase of approximately 29.3 MW over April’s total capacity.

Massachusetts DOER Qualified Projects

As of May 20, 2013, there were 5,992 MA DOER qualified solar projects; 5,897 operational and 95 not operational. Total qualified capacity is 287.0 MW; 217.9 MW of which is operational and 69.1 MW not operational. As of June 7, 2013, the MA DOER published a new RPS Solar Carve-Out list demonstrating the projects that are currently under review for a statement of qualification under the current solar carve-out program. Under the original 400 MW cap, there are 305 projects (237 operational and 68 not operational) qualified totaling 115 MW (3.4 operational and 111.6 not operational). Additionally, the DOER report provided information about projects that fall outside of the original 400 MW cap. There are 1,323 projects (456 operational and 867 not operational) totaling 504.3 MW (7.2 operational and 497.1 not operational) on this section of the list. Based on the information presented at the MA DOER Stakeholder meeting on Friday, June 7, 2013, some of these projects may qualify as eligible under the emergency regulations to be implemented.

How to Interpret This Table

The tables above 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. Additional detail has been provided to demonstrate the total capacity of systems only certified for one specific state market versus being certified for multiple state markets. For example, PA includes projects only certified to sell into the PA SREC market, broken out by in-state and out-of-state systems, as well as projects that are also certified to sell into PA and Other State markets broken out by in state and out of state systems (i.e. OH, DC, MD, DE, NJ). 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 with only that particular compliance period vintage. For example, New Jersey needed approximately 496.7 MW online for the entire 2013 reporting year to meet the RPS requirement with 2013 vintage SRECs only. SRECs still available from prior eligible periods can also impact the Solar RPS requirements. Additionally, the data presented above 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 as of the dates noted.

Note: SREC requirements for markets without fixed SREC targets have been forecast based on EIA Report “Retail Sales of Electricity by State by Provider” updated 10/1/12. Projected SRECs required utilizes the most recent EIA electricity data applying an average 1.5% growth rate per forecast year. The state’s RPS Solar requirement is then multiplied by forecast total electricity sales to arrive at projected SRECs required. Projected capacity required is based on a factor of 1,200 MWh in PJM states and 1,130 MWh in MA, generated per MW of installed capacity per year.

 

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MA DOER Solar Industry Stakeholder Update

Posted May 23rd, 2013 by SRECTrade.

Today, the Massachusetts Department of Energy Resources (MA DOER) sent a notice to MA Solar Industry stakeholders. The email addressed the following subjects:

    1. Post-400 MW Solar Policy Development – Stakeholder Meeting, June 7th: The DOER will host a public stakeholder meeting on Friday, June 7, 2013 from 10 a.m. to 12 p.m. in the Gardner Auditorium of the State House in Boston. The DOER will present its proposed policy for the post-400 MW solar program.
    2. Solar Credit Clearinghouse Auction – Account is Open for Deposits and an Auction will be Held: The Solar Credit Clearinghouse Auction account is open for deposits. Deposits must be made by June 15, 2013. All clients utilizing SRECTrade’s EasyREC asset management services will have any unsold MA2012 SRECs automatically deposited into the auction account. The first round of the auction is scheduled to be held on July 26, 2013.
    3. Assurance of Qualification Guideline – Revised Draft now posted for comments: The DOER posted revisions to the qualification guidelines. This document clarifies the queuing and review process as the 400 MW Solar Carve-Out program cap is approached.

To see the original notice click here. SRECTrade will continue to provide any relevant updates on these subjects as more information becomes available.

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SRECTrade SREC Markets Report: April 2013

Posted May 22nd, 2013 by SRECTrade.

SRECTrade SREC Markets Report: April 2013

The following post is a monthly update outlining the megawatts of solar capacity certified to create SRECs in the Solar REC markets that SRECTrade currently serves. All PJM data is based on the information available in PJM GATS as of the date noted. All MA data is based on the information provided by the DOER as of the date noted. This analysis does not include projects that are not yet registered and certified with the entities noted herein.

A PDF copy of this table can be found here.

 Capacity_April2013

Overview of PJM Eligible Systems

As of May 15, 2013 there were 34,339 solar PV and 696 solar thermal systems registered and eligible to create SRECs in the PJM Generation Attribute Tracking System (GATS). Of these, 228 (0.65%) have a nameplate capacity of 1 megawatt or greater. Twenty-five of these projects have a nameplate capacity of 5 MW or greater. New Jersey continues to host most of the larger scale facilities, claiming home to 60.0% of the projects, 15 of 25 facilities, that are equal to or greater than 5 MW. The three largest projects are a 29.1 MW FirstSolar project in MD, the 25.1 MW PSE&G utility pole mount project located in NJ, and the 16.1 MW Mount St. Mary’s project in MD.

Massachusetts DOER Qualified Projects

As of May 20, 2013, there were 5,992 MA DOER qualified solar projects; 5,897 operational and 95 not operational. Total qualified capacity is 287.0 MW, 217.9 MW of which is operational and 69.1.9 MW not operational. The not operational capacity balance increased by 37.2 MW over the last reporting period. Electricity suppliers providing power to the state need to acquire approximately 73,400 SRECs in 2012. According to NEPOOL GIS, 118,356 MA2012 SRECs have been issued for the current compliance year.

How to Interpret This Table

The tables above 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. Additional detail has been provided to demonstrate the total capacity of systems only certified for one specific state market versus being certified for multiple state markets. For example, PA includes projects only certified to sell into the PA SREC market, broken out by in-state and out-of-state systems, as well as projects that are also certified to sell into PA and Other State markets broken out by in state and out of state systems (i.e. OH, DC, MD, DE, NJ). 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 with only that particular compliance period vintage. For example, New Jersey needed approximately 496.7 MW online for the entire 2013 reporting year to meet the RPS requirement with 2013 vintage SRECs only. SRECs still available from prior eligible periods can also impact the Solar RPS requirements. Additionally, the data presented above 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 as of the dates noted.

Note: SREC requirements for markets without fixed SREC targets have been forecast based on EIA Report “Retail Sales of Electricity by State by Provider” updated 10/1/12. Projected SRECs required utilizes the most recent EIA electricity data applying an average 1.5% growth rate per forecast year. The state’s RPS Solar requirement is then multiplied by forecast total electricity sales to arrive at projected SRECs required. Projected capacity required is based on a factor of 1,200 MWh in PJM states and 1,130 MWh in MA, generated per MW of installed capacity per year.

 

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Massachusetts Post-400 MW Solar Program Proposal

Posted April 22nd, 2013 by SRECTrade.

Some projections show installed PV capacity eligible for the MA Solar Carve-Out Program, otherwise known as the MA SREC program, reaching 400 MW as early as 2014. Once the current SREC market reaches 400 MW no other projects will be eligible for participation in the current program. In preparation for the approach of the 400 MW cap, the DOER held a “Post-400 MW Solar Policy Stakeholder Meeting” in Boston on March 22, 2013, attended by SRECTrade’s own Alex Sheets.

The purpose of the meeting was to discuss the DOER’s post-400 MW program proposals, including the need for additional clarifications on an “Assurance of Qualification” queuing process for projects wishing to participate in the current iteration of the SREC program. After the meeting’s conclusion, the DOER requested additional formal comments and suggestions. The DOER has since issued guidance on Assurance of Qualification process as well as public comments on the size and shape of a solar incentive program after the 400 MW cap is reached for the current program.

Assurance of Qualification Guideline

In its April 12, 2013 email the DOER summarized the main points of its draft Assurance of Qualification (queuing process) proposal. The draft guideline can be viewed here and we reprint the DOER’s own draft bullet points here:

  • Establishes a list of criteria for determining what constitutes a “complete” application.
  • Creates an exception for small generation units (<30kW DC) that exempts them from meeting the same criteria that larger projects must meet in order to qualify.
  • Establishes a set-aside of the 400 MW DC program cap specifically for small generation units that is equal to 60 MW DC. This 60 MW set-aside includes just over 30 MW of small generation units that are already qualified and operational and helps ensure that the residential and small commercial sector will be protected from any market disruptions in the event the 400 MW program cap is reached before a new program is in place.
  • Establishes a reservation period of 9 months for projects that have obtained an Assurance or Statement of Qualification. Units must be interconnected within this reservation period or will lose their Assurance or Statement of Qualification. It also provides for extensions of this reservation period in certain situations.
  • Creates a list of permissible and prohibited changes that can be made to a project after it receives its Assurance or Statement of Qualification.

Post-400 MW Solar Policy Proposals

The DOER posted all written proposals for a post-400 MW program here. A wide spectrum of proposals were submitted. However, suggestions predictably ranged from the implementation of a feed-in-tariff program to the development of a parallel SREC program, similar to the current one. In general it appears that the majority of stakeholders support the continued implementation of an SREC-based policy.

SRECTrade will continue to closely monitor the development of both post-400 MW policy as well as the Assurance of Qualification process and will periodically update this blog with updates.

 

 

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SRECTrade SREC Markets Report: March 2013

Posted April 10th, 2013 by SRECTrade.

SRECTrade SREC Markets Report: March 2013

The following post is a monthly update outlining the megawatts of solar capacity certified to create SRECs in the Solar REC markets that SRECTrade currently serves. All PJM data is based on the information available in PJM GATS as of the date noted. All MA data is based on the information provided by the DOER as of the date noted. This analysis does not include projects that are not yet registered and certified with the entities noted herein.

A more detailed analysis of supply, demand and price trends in the SREC markets can be found in the SREC Market Monitor, a joint-venture between SRECTrade and Greentech Media’s GTM Research.

A PDF copy of this table can be found here.

Capacity_March2013

***NJ Capacity Update as of 3/31/13*** Through March 2013 NJ installed capacity reached approximately 1,026 MW of installed solar capacity; a 18 MW increase over the prior month. The number in the table above represents all capacity registered in GATS as of the date noted. The remaining capacity will be registered and receive SREC credit from the date of project interconnection.

Overview of PJM Eligible Systems

As of April 9, 2013 there were 33,116 solar PV and 679 solar thermal systems registered and eligible to create SRECs in the PJM Generation Attribute Tracking System (GATS). Of these, 225 (0.67%) have a nameplate capacity of 1 megawatt or greater. Twenty-four of these projects have a nameplate capacity of 5 MW or greater. New Jersey continues to host most of the larger scale facilities, claiming home to 62.5% of the projects, 15 of 24 facilities, that are equal to or greater than 5 MW. The three largest projects are a 29.1 MW FirstSolar project in MD, the 25.1 MW PSE&G utility pole mount project located in NJ, and the 16.1 MW Mount St. Mary’s project in MD.

Massachusetts DOER Qualified Projects

As of April 17, 2013, there were 5,532 MA DOER qualified solar projects; 5,485 operational and 47 not operational. Total qualified capacity is 239.1 MW, 207.2 MW of which is operational and 31.9 MW not operational. Electricity suppliers providing power to the state need to acquire approximately 73,400 SRECs in 2012. According to NEPOOL GIS, 119,247 MA2012 SRECs have been issued for the current compliance year.

How to Interpret This Table

The tables above 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. Additional detail has been provided to demonstrate the total capacity of systems only certified for one specific state market versus being certified for multiple state markets. For example, PA includes projects only certified to sell into the PA SREC market, broken out by in-state and out-of-state systems, as well as projects that are also certified to sell into PA and Other State markets broken out by in state and out of state systems (i.e. OH, DC, MD, DE, NJ). 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 with only that particular compliance period vintage. For example, New Jersey needed approximately 496.7 MW online for the entire 2013 reporting year to meet the RPS requirement with 2013 vintage SRECs only. SRECs still available from prior eligible periods can also impact the Solar RPS requirements. Additionally, the data presented above 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 as of the dates noted.

Note: SREC requirements for markets without fixed SREC targets have been forecast based on EIA Report “Retail Sales of Electricity by State by Provider” updated 10/1/12. Projected SRECs required utilizes the most recent EIA electricity data applying an average 1.5% growth rate per forecast year. The state’s RPS Solar requirement is then multiplied by forecast total electricity sales to arrive at projected SRECs required. Projected capacity required is based on a factor of 1,200 MWh in PJM states and 1,130 MWh in MA, generated per MW of installed capacity per year.

 

 

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SRECTrade SREC Markets Report – February 2013

Posted March 12th, 2013 by SRECTrade.

SRECTrade SREC Markets Report: February 2013

The following post is a monthly update outlining the megawatts of solar capacity certified to create SRECs in the Solar REC markets that SRECTrade currently serves. All PJM data is based on the information available in PJM GATS as of the date noted. All MA data is based on the information provided by the DOER as of the date noted. This analysis does not include projects that are not yet registered and certified with the entities noted herein.

A more detailed analysis of supply, demand and price trends in the SREC markets can be found in the SREC Market Monitor, a joint-venture between SRECTrade and Greentech Media’s GTM Research.

A PDF copy of this table can be found here.

Capacity_February2013

***NJ Update: Installed Capacity Surpasses 1 GW of Solar*** Through February 2013 NJ installed capacity reached approximately 1,008.4 MW of installed solar capacity; a 35 MW increase over the prior month. The number in the table above represents all capacity registered in GATS as of the date noted. The remaining capacity will be registered and receive SREC credit from the date of project interconnection.

Overview of PJM Eligible Systems

As of March 11, 2013 there were 31,932 solar PV and 663 solar thermal systems registered and eligible to create SRECs in the PJM Generation Attribute Tracking System (GATS). Of these, 213 (0.65%) have a nameplate capacity of 1 megawatt or greater. Twenty three of these projects have a nameplate capacity of 5 MW or greater. New Jersey continues to host most of the larger scale facilities, claiming home to 65.2% of the projects, 15 of 23 facilities, that are equal to or greater than 5 MW. The three largest projects are a 29.1 MW FirstSolar project in MD, the 25.1 MW PSE&G utility pole mount project located in NJ, and the 16.1 MW Mount St. Mary’s project in MD.

Massachusetts DOER Qualified Projects

As of March 13, 2013, there were 4,962 MA DOER qualified solar projects; 4,945 operational and 17 not operational. Total qualified capacity is 214.6 MW, 195.4 MW of which is operational and 19.2 MW not operational. Electricity suppliers providing power to the state need to acquire approximately 73,400 SRECs in 2012. According to NEPOOL GIS, 91,684 Q1 – Q3 2012 SRECs have been issued for the year to date. Additionally, 25,750 MWhs were reported to the MassCEC production tracking system for the 3 months covering October-December 2012.

How to Interpret This Table

The tables above 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. Additional detail has been provided to demonstrate the total capacity of systems only certified for one specific state market versus being certified for multiple state markets. For example, PA includes projects only certified to sell into the PA SREC market, broken out by in-state and out-of-state systems, as well as projects that are also certified to sell into PA and Other State markets broken out by in state and out of state systems (i.e. OH, DC, MD, DE, NJ). 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 with only that particular compliance period vintage. For example, New Jersey needed approximately 496.7 MW online for the entire 2013 reporting year to meet the RPS requirement with 2013 vintage SRECs only. SRECs still available from prior eligible periods can also impact the Solar RPS requirements. Additionally, the data presented above 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 as of the dates noted.

Note: SREC requirements for markets without fixed SREC targets have been forecast based on EIA Report “Retail Sales of Electricity by State by Provider” updated 10/1/12. Projected SRECs required utilizes the most recent EIA electricity data applying an average 1.5% growth rate per forecast year. The state’s RPS Solar requirement is then multiplied by forecast total electricity sales to arrive at projected SRECs required. Projected capacity required is based on a factor of 1,200 MWh in PJM states and 1,130 MWh in MA, generated per MW of installed capacity per year.

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Posted in Capacity Summary | Comments Off on SRECTrade SREC Markets Report – February 2013

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