Massachusetts SRECs fall into two markets: SREC I and SREC II. The SREC I program was created in January 2010, and all solar energy systems interconnected before April 2014 are eligible for this program. Systems approved to interconnect between April 2014 and November 26th, 2018 are eligible for the SREC II program.
Both the SREC I and II programs are now closed. The current solar incentive program, Solar Massachusetts Renewable Target (SMART), is currently accepting applications. The SMART program does not have an SREC component. For more information on the phase-out of the SREC program in Massachusetts, please read DOER’s transition announcement.
Massachusetts’ Renewable Portfolio Standard
- The Massachusetts RPS is split between Class I, and Class II, which includes renewables and waste energy. The RPS also includes a carve-out specifically for solar. The state’s current solar target is 1600MW by 2020.
- The ACP rate is adjusted annually. Rates can be found on the DOER website.
- SREC I and II eligible facilities are granted up to 10 years of SREC production. After the 10-year period, the system will be eligible to generate RECs under the Class I market.
- SRECs up to three years old can be sold in the Massachusetts market. Therefore, customers who have registered their system on their own or through an aggregator will still be able to sell their SRECs, provided they were minted in the last three years.
- If you’d like to learn more about the Massachusetts RPS you can visit the Massachusetts Clean Energy Center’s website.
The Massachusetts Clearinghouse
Massachusetts is the only SREC state with an annual Clearinghouse auction. At the end of the compliance year (June) all SRECs that have not been sold will be deposited into the DOER auction account on the New England Power Pool (NEPOOL). The auction was created by the DOER to support pricing for the SREC markets, and avoid volatility seen in other market. Sol Systems Brokerage customers may have their SRECs deposited into the auction depending on their selling preferences. Read more about the Clearinghouse on our blog.
Registration with the DOER, MA Production Tracking System (PTS) and NEPOOL must occur by the Application Submission Deadline in the table below. Otherwise, a system’s eligibility start date will be pushed to the following quarter.
|Interconnection Date||Submission Deadline|
|Q1: January, February, and March||May 15th|
|Q2: April, May, and June||August 15th|
|Q3: July, August, and September||November 15th|
|Q4: October, November, and December||February 15th|
To work with Sol Systems, all system owners or installers must register here. After registering, system owners must submit a Sol Systems contract, interconnection agreement, and state registration number. Sol Systems will then complete system transfer with the DOER, PTS, and NEPOOL on the customer’s behalf at no cost.
SREC II systems interconnected between January 8th, 2018 and November 26th, 2018 are subject to a 0.8 SREC factor and will therefore earn an SREC for every 1,250kWh.
After receiving certification from the DOER and Production Tracking System (PTS), meter readings are reported to the PTS monthly. Systems under 10kW may report their own readings, whereas all systems over 10kW must have an approved Data Acquisition System (DAS).
SRECs are minted by the New England Power Pool (NEPOOL) on a quarterly basis. Due to the quarterly minting, MA customers are eligible to receive SREC payments on a quarterly basis. The minting and payment schedule is below. Please don’t hesitate to reach out if you have any questions about the schedule.
|SREC Generation Quarter||Application Submission Deadline||Minted by NEPOOL||Sol Systems Payment Month|
|Q1: January, February, and March||May 15th||July 15th||August|
|Q2: April, May, and June||August 15th||Oct. 15th||November|
|Q3: July, August, and September||November 15th||Jan. 15th||February|
|Q4: October, November, and December||February 15th||April 15th||May|
For example, customers whose system earns an SREC in Quarter 1 (January-March) will receive their Annuity or Combo payment on the last business day in May. Brokerage customers will also receive payment in May if their SRECs are sold ahead of the May payment.
Sol Systems customers can receive their payment via check or an Electronic Funds Transfer through an Automated Clearing House (direct deposit).
Have any questions about SRECs in MA? Feel free to call us at 888-235-1538 ext.1 or email at email@example.com. We are happy to help.