July 13, 2020
The Massachusetts Department of Energy Resources (DOER) is set to hold Solar Credit Clearinghouse Auctions for SREC and SREC II certificates. There are a significant number of certificates available in each auction. Please see the numbers detailed below.
SREC I: 103 certificates
SREC II: 85 certificates
Maximum Financial Security Requirements
For both auctions, SREC I and SREC II, Retail Electric Suppliers with RPS compliance obligations will be credited with security proportional to the volume of electric load they served in 2019.
Both Retail Electric Suppliers and Non-Retail Electric Suppliers may post an amount no more than the amount required to purchase 50% of total auction volume.
Non-Retail Electric Suppliers without RPS obligations cannot bid on/will not be awarded in excess of 50% of total auction volume for either SRECs or SREC IIs.
Multi-Tiered Auction
There are two different tiers of bidders for the 2020 auction.
Tier I
Tier I is for Retail Electric Suppliers with RPS compliance obligations, and up to 50% of the overall auction volume will be reserved for Tier I bidders. If Tier I bid demand exceeds this 50% figure, awards will be made pro-rata. If bidding falls below this 50% figure, then each will be awarded and the remaining SRECs will be made available to Tier II bidders.
Tier II
Tier II is for all entities. The quantity available for Tier II bidders is dependent on what is left over after Tier I awards. Tier II allocation will be made on a pro-rata basis.
Dates to Remember
The most important auction dates to remember are as follows.
July 15: Bidder Qualification Application Due.
July 29: Fire auction takes place.
To learn about Massachusetts solar energy, or develop your own project, get in touch with YSG Solar today. Send us an email, or call at 212.389.9215 to learn more about the Massachusetts energy market.
YSG Solar is a project development vehicle responsible for commoditizing energy infrastructure projects. We work with long-term owners and operators to provide clean energy assets with stable, predictable cash flows. YSG's market focus is distributed generation and utility-scale projects located within North America.
Sources:
https://www.mass.gov/orgs/massachusetts-department-of-energy-resources