Minimum Standard Calculations
Every Retail Electricity Supplier 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 Standards for the Class I Solar Carve-out and Solar Carve-out II are the percentages of a Supplier's total retail load obligation that must be met by the ownership of Solar Carve-out and Solar Carve-out II Renewable Energy Certificates (SRECs and SREC IIs) issued by the NEPOOL GIS, with each SREC or SREC II representing the environmental attributes associated with one MWh of electrical energy from a Generation Unit that has been qualified by DOER.
The Solar Carve-out and Solar Carve-out II Minimum Standards are part of, not in addition to, the RPS Class I Minimum Standard. The Minimum Standards for the RPS Class I Solar Carve-out and Solar Carve-out II is calculated and announced each year in accordance with the provisions of the RPS Class I Regulation in 225 CMR 14.07(2) and (3). More details on the methodology used to calculate current and previous Minimum Standards can be found below.
| Compliance Year | Solar Carve-out Compliance Obligation (MWh) | Solar Carve-out II Compliance Obligation (MWh) | Total Retail Load Obligation from two years prior (MWh) | Solar Carve-Out Minimum Standard (%) | Solar Carve-Out II Minimum Standard (%) |
|---|---|---|---|---|---|
| 2010 | 34,164 | N/A | 50,321,635 | 0.07% | N/A |
| 2011 | 78,577 | N/A | 48,301,821 | 0.16% | N/A |
| 2012 | 81,559 | N/A | 50,025,563 | 0.16% | N/A |
| 2013 | 189,297 | N/A | 49,386,169 | 0.38% | N/A |
| 2014 | 464,520 | 41,279 | 48,992,429 | 0.95% | 0.08% |
| 2015 | 1,056,097 | 161,958 | 49,252,581 | 2.14% | 0.33% |
| 2016 | 845,519 | 377,877 | 48,129,291 | 1.76% | 0.79% |
| 2017 | 783,183 | 1,374,406 | 48,009,721 | 1.63% | 2.86% |
| 2018 | 838,995 | 1,906,434 | 46,864,431 | 1.79% | 4.07% |
| 2019 | 798,214 | 1,789,639 | 45,722,855 | 1.75% | 3.91% |
| 2020 | 748,584 | 1,765,527 | 46,448,304 | 1.61% | 3.80% |
| 2021 | 743,433 | 1,756,220 | 44,705,754 | 1.66% | 3.93% |
| 2022 | 691,755 | 1,778,244 | 43,673,802 | 1.54% | 4.07% |
| 2023 | 410,624 | 1,619,369 | 44,374,193 | 0.93% | 3.4149% |
| 2024 | 8,457 | 1,522,925 | 44,507,592 | 0.019% | 3.4217% |
| 2025 | N/A | 1,368,475 | 43,282,337 | N/A | 3.1617% |
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 and Solar Carve-out II. Using eleven years of production data from January 2010 through December 2023, DOER determined that the average capacity factor of systems operating during this period was 13.02%. This new capacity factor was used to help project the number SREC IIs that will be generated in 2025 as part of the DOER’s Determination of CY 2025 Total Compliance Obligations for each program. The details of how this calculation was made can be found in the Determination of Average Solar PV Capacity Factor.
Solar Carve-out Minimum Standards
Per 225 CMR 14.07(2)(3) stated as: Compliance Year 2023 shall be the final Compliance Year of the Solar Carve-out program. DOER has made the determination that the 2025 Solar Carve-out Compliance Obligation will be $0 MWh and that the Minimum Standard shall be $0 of total retail electricity sales. The details about how previous Minimum Standards were determined can be found below:
Prior Solar Carve-out Minimum Standard Calculations
Determination of CY 2024 Total Compliance Obligation and Minimum Standard
Determination of CY 2023 Total Compliance Obligation and Minimum Standard
Determination of CY 2022 Total Compliance Obligation and Minimum Standard
Determination of CY 2021 Total Compliance Obligation and Minimum Standard
Determination of CY 2020 Total Compliance Obligation and Minimum Standard
Determination of CY 2019 Total Compliance Obligation and Minimum Standard
Determination of CY 2018 Total Compliance Obligation and Minimum Standard
Determination of CY 2017 Total Compliance Obligation and Minimum Standard
Determination of CY 2016 Total Compliance Obligation and Minimum Standard
Determination of CY 2015 Total Compliance Obligation and Minimum Standard
Determination of CY 2014 Total Compliance Obligation and Minimum Standard
Determination of CY 2013 Total Compliance Obligation and Minimum Standard
Determination of CY 2012 Total Compliance Obligation and Minimum Standard
Solar Carve-out II Minimum Standards
DOER has calculated the 2025 SREC II Compliance Obligation and Minimum Standard for load under contracts signed after May 8, 2016. DOER has determined that the Compliance Obligation shall be approximately 1,368,475 MWh and that the Minimum Standard shall be 3.1617% of total retail electricity sales. The 2025 Compliance Obligation for load served under contracts signed on or before May 8, 2016 shall be approximately 821,139 MWh and that the Minimum Standard shall be approximately 1.8972% of total retail electricity sales. Lastly, the Compliance Obligation for load served under contracts signed on or before April 25, 2014 shall be 0% of total retail electricity sales. The details of how the preliminary Minimum Standards were calculated can be found here:
Determination of CY 2025 Total Compliance Obligation and Minimum Standard
Prior Minimum Standards
CY2024 Calculation of Minimum Standard Guideline
*Updated 10/17/2023 due to the retail load obligation changing.
CY2023 Calculation of Minimum Standard Guideline - Modified
*Updated 10/17/2023 due to the retail load obligation changing.
CY2022 Calculation of Minimum Standard Guideline
CY2021 Calculation of Minimum Standard Guideline
CY2020 Calculation of Minimum Standard Guideline
CY2019 Calculation of Minimum Standard Guideline
CY2018 Calculation of Minimum Standard Guideline
Market Information
Exempt Load and Re-Minted Auction Certificates
The RPS Solar Carve-Out and Solar Carve-Out II Programs provide compliance exemptions for load served under contracts executed prior to certain dates.
The following spreadsheet contains the most recent aggregate information on past and future exempt loads collected from retail suppliers, with the first tab containing data on the Solar Carve-Out exemption and the second containing data on the Solar Carve-Out II exemptions. The third tab lists the amount of Re-Minted Auction Certificates created each year and documents when such certificates were used for compliance and how many remain available for use and future years. Updated May 2020.
SREC I and II Exempt Load Projections
SRECs Minted and Expected
The following spreadsheet contains updated numbers of the monthly production totals for SREC I systems, as well as the total number of SREC Is minted each quarter at NEPOOL GIS.
Alternative Compliance Payment Rates and SREC I and II Auction Rates
The schedule below details the Solar Carve-out and Solar Carve-out II ACP Rates in effect for every Compliance Year through 2029.
| Compliance Year | Solar Carve-out ACP Rate ($/MWh) | Solar Carve-out II ACP Rate ($/MWh) |
|---|---|---|
| 2010 | $600 | N/A |
| 2011 | $550 | N/A |
| 2012 | $550 | N/A |
| 2013 | $550 | N/A |
| 2014 | $523 | $375 |
| 2015 | $496 | $375 |
| 2016 | $472 | $350 |
| 2017 | $448 | $350 |
| 2018 | $426 | $350 |
| 2019 | $404 | $333 |
| 2020 | $384 | $316 |
| 2021 | $365 | $300 |
| 2022 | $347 | $285 |
| 2023 | $330 | $271 |
| 2024 | $330 | $257 |
| 2025 | $330 | $244 |
| 2026 | N/A | $232 |
| 2027 | N/A | $220 |
| 2028 | N/A | $209 |
| 2029 | N/A | $199 |
Solar Credit Clearinghouse Auctions
DOER has established two separate accounts on the NEPOOL GIS system, one for SREC I and one for SREC II deposits. Each solar installation, as part of its Statement of Qualification issued by DOER, is permitted to deposit SRECs or SREC IIs into the applicable Solar Credit Clearinghouse Auction Account established by DOER. The term shall be no more than 40 quarters for all qualified Generation Units.
SRECs deposited into the auction account shall be sold at a fixed price of $300/MWh, with depositors receiving $285/MWh for each SREC successfully sold. SREC IIs deposited into the auction account shall be sold at the applicable fixed price for the year in which they were generated according the following table:
| Compliance Year | Auction Bid Price ($/MWh) | Value to Depositor ($/MWh) |
|---|---|---|
| 2014 | $300 | $285.00 |
| 2015 | $300 | $285.00 |
| 2016 | $300 | $285.00 |
| 2017 | $285 | $270.75 |
| 2018 | $271 | $257.45 |
| 2019 | $257 | $244.15 |
| 2020 | $244 | $231.80 |
| 2021 | $232 | $220.40 |
| 2022 | $221 | $209.95 |
| 2023 | $210 | $199.50 |
| 2024 | $199 | $189.05 |
| 2025 | $189 | $179.55 |
| 2026 | $180 | $171.00 |
| 2027 | $171 | $162.45 |
More information on the Solar Credit Clearinghouse Auctions can be found on DOER’s SREC and SREC II Auction webpage.
List of Qualified Generation Units
The following page provides links to lists of projects that have received a Statement of Qualification under the Solar Carve-out or Solar Carve-out II.
SREC II Managed Growth Capacity Blocks
The following is a list of projects that have received a Statement of Qualification and have been allocated a position under a Managed Growth Annual Capacity Block. Projects on the Waiting List are also listed.