SRECs Minted and Expected

The following table was developed in an effort to provide transparency to the market in regards to the number of Solar Carve-Out Renewable Energy Certificates (SRECs) that have been minted at the NEPOOL GIS and the number of MWh that have been reported to the MassCEC Production Tracking System (PTS). The table will be updated monthly.

SRECs Minted & Expected 070914 xlsx format of SRECs Minted & Expected 070914

Minimum Standard

Each Retail Electricity Supplier, both regulated utilities and competitive suppliers, must demonstrate to DOER in an Annual Compliance Filing that it complied with the RPS Minimum Standard for the prior calendar year (Compliance Year). The Minimum Standard for the Class I Solar Carve-Out is the percentage of a Supplier's total retail load obligation that must be met by the ownership of Solar Carve-Out Renewable Energy Certificates (SRECs) issued by the NEPOOL GIS, with each SREC signifying one MWh of electrical energy from a PV Generation Unit (or Aggregation) that has been qualified by DOER for the Solar Carve-Out.

The Solar Carve-Out Minimum Standard is part of, not in addition to, the RPS Class I Minimum Standard. The Minimum Standard for the RPS Class I Solar Carve-Out of each year is calculated and announced in accordance with the provisions of the RPS Class Regulation in 225 CMR 14.07(2).

Calculation of the RPS Class I Solar Carve-Out Minimum Standard

Compliance YearCompliance Obligation2 years priorTotal Retail Load ObligationSolar Carve-Out Minimum Standard
 MWh MWhPercentage
201034,164200850,321,6350.0679%
201178,577200948,301,8210.1627%
201281,559201050,025,5630.1630%
2013189,297201149,386,1690.3833%
2014464,520201248,992,4290.9481%

Opt-In Term

The Opt-In Term set for all projects that receive Statements of Qualification is 40 quarters or 10 years. 

Alternative Compliance Payment Rates

Competitive Retail Electric Suppliers will be able to meet their Solar Carve-Out compliance obligation for load under contract prior to January 1, 2010 with an Alternative Compliance Payment at a rate equal to the RPS Class I ACP rate for the applicable Compliance Year. These eligible contracts do not include any contracts associated with Basic Service load sold by distribution companies to retail customers. The schedule below details the ACP Rate in effect for every Compliance Year through 2024.

Forward Solar Carve-Out ACP Rate Schedule

Compliance YearACP Rate per MWh
2010$600
2011$550
2012$550
2013$550
2014$523
2015$496
2016$472
2017$448
2018$426
2019$404
2020$384
2021$365
2022$347
2023$330
2024$330
2025 and afteradded no later than January 31, 2015

Qualifed Projects

DOER has granted Statements of Qualification for the following Generation Units: Solar Carve-Out Qualified Units 070914 xlsx format of Solar Carve-Out Qualified Units 070914 file size 2MB

 

This information is provided by the Department of Energy Resources.