Solar Renewable Energy Credits (SREC) were created in 2010 by the Department of Energy Resources as an incentive to encourage solar electric investment. Like a Class 1 REC (Renewable Energy Credit) the credit is given for each 1000 Kilowatt Hours (Megawatt) produced by your system. You must sign up with a SREC broker and have a solar meter that either reports your solar production directly, or you report them on a monthly basis. The price per SREC has varied from $550 in 2011 to $180 in 2012, and with over 400 Megawatts of solar installed by mid-2013 a new SREC II program is about to begin sometime in 2014. To start to understand SRECs we encourage you to go to the DOER website http://www.mass.gov/eea/energy-utilities-clean-tech/renewable-energy/solar/rps-solar-carve-out/about-the-rps-solar-carve-out-program.html
Massachusetts Solar Owners Association
Representing Solar PV Electric & Thermal Systems
While I have never been a “big-government”, “Nanny-state” type, I must comment that the SREC system to quote our senior Senator is “rigged for the big guys (in this case utilities who are required to buy the SRECs from solar investors)”. I say this in defense of “early-adopter” people who installed systems at a higher price in the early phase of the program who are now outraged that the SREC price has dropped below the “floor” price of $285, due to recent price drops of PV and the ending of federal solar grants. This has so far benefited the utilities and has victimized the early adopters. Though touted as a “free-market” concept, it is anything but that, due to the forced buying requirement by stakeholders with large lobbying power. The SREC price should be set by the installation year and sold through the government (DOER)…no need for brokers and long delays (five plus months after SRECs are produced and minted) with the earliest installations being paid for their SRECs first. The SREC program is touted as bringing certainty for solar investors, but as we watch the price drop, certainty is not reality.
However, if this works the way it is supposed to, once SREC 1 closes and stabilizes, the price should go back up, as no new systems are coming on-line and SREC purchase requirements match the installed PV base. Who knows, if any purists simply retire their SRECs thus keeping their green attributes (not selling their green soul?), this will bring about a greater shortage driving up SREC prices for everyone else.
I just installed my solar PV 4 kW system in Feb. 2013, how and when do I get my SRECs. Who does the reporting for my system production and how do I sell them.
You should have already contacted an aggregator and established your account. YOU report your own production on mass PTS system, this generates the SRECS which are automatically credited to your aggregator account.
follow these steps.
http://images.masscec.com/uploads/programdocs/MassCEC%20SREC%20Reporting%20Instructions.pdf
there is a list of aggregators here:
http://www.mass.gov/eea/energy-utilities-clean-tech/renewable-energy/solar/rps-solar-carve-out/market-resources-aggregators-retail.html
your installer SHOULD have directed you to do this back in FEBRUARY.
Tim, your attachments are helpful. Solar City left me out to dry too (not sure who NEW SOLAR OWNER used) not directing me to anyone even though I kept asking throughout the process!! Once panels were installed, my contact with Solar city dropped off the face of the planet!!