Preliminary Minimum Standard for Compliance Year 2015
As required by regulation, DOER has calculated a preliminary RPS Class I Solar Carve-Out Minimum Standard for Compliance Year 2014. As the Solar Credit Clearinghouse Auction did not clear in the first two rounds, the volume of SRECs deposited was counted twice in determining the preliminary Minimum Standard. This results in a preliminary Minimum Standard of 2.1419%, which is equivalent to a Compliance Obligation of 1,054,933 MWh under 2013 load assumptions. The details of how this calculation was made can be found in the Preliminary Determination of CY 2015 Total Compliance Obligation and Minimum Standard .
Prior Minimum Standard Calculations
Calculation of Solar PV Capacity Factor
As required by regulation, DOER has completed its analysis of the average solar PV capacity factor for projects participating in the Solar Carve-Out. Using three years of production data from May 2010 through April 2013, DOER determined that the average capacity factor of systems operating during this period was 13.21%. This new capacity factor was used to help project the number of SRECs that will be generated in 2013 as part of DOER’s Determination of CY 2014 Total Compliance Obligation, and will be used to calculate the Compliance Obligation in the Compliance Year when 225 CMR 14.07(2)(e) takes effect. The details of how this calculation was made can be found in the Determination of Average Solar PV Capacity Factor .
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.
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 Year||Compliance Obligation||2 years prior||Total Retail Load Obligation||Solar Carve-Out Minimum Standard|
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 Year||ACP Rate per MWh|
|2025 and after||added no later than January 31, 2015|
DOER has granted Statements of Qualification for the following Generation Units: Solar Carve-Out Qualified Units August 8, 2014 file size 2MB
This information is provided by the Department of Energy Resources.