Mass SREC Update – August 2010
First Credits Minted
On July 15, 2010 Massachusetts minted a total of 7 credits under the new solar carve-out SREC program. These credits were generated from solar photovoltaic facilities that were registered and produced at least 1 mwh of production between January – March, 2010. Obviously, this is an extremely low number. It could be due to a couple of factors; facilities that were eligible were not registered and/or systems that were completed during the first quarter were actually started in 2009 under the previous program.
Next MA SREC Minting
The next credits will be minted on October 15th. These credits will be for production ending June 30, 2010. If you had a solar installation that started producing anytime between January – June 2010, it is very important that you contact us ASAP. Knollwood Energy will take care of all the paperwork required to get the facility registered with the MA DOER. We also monitor the facility on the MA Clean Energy Center so, if the system produced at least 1mwh by June 30, 2010, and we can get the system registered in time, we will pay immediately for all Massachusetts SRECs after they are minted – no need to wait for an auction to occur.
Systems that are completed between July – September, 2010 will be minted January 15, 2011. Does this mean you should wait? Absolutely not, we are registering new facilities daily. There is currently no registration backlog with the state. We submit the paperwork and it gets promptly registered.
MA SREC PRICING
Knollwood Energy anticipates that there will not be enough supply to meet the SREC compliance demand for the 2010 reporting year. We are paying our customers over $500 per SREC. We work with residential and commercial facilities of all sizes. The more facilities we have early on as part of our aggregation, the better positioned we are to negotiate with the utilities, which in turn means better pricing per SREC.