Massachusetts is home to 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 interconnected in April 2014 or later are in the SREC II program until it is expected to close in mid-2018.
After the SREC program closes in 2018, the subsequent solar incentive program, Solar Massachusetts Renewable Target (SMART), will open. This will not have an SREC component. Details on this transition depend on whether a project is over 25kW or under 25kW. For more information on SREC factors and the phase out of the SREC program in Massachusetts, please read our blog post.
We offer Annuity, Combo, Upfront, and Brokerage contracts in the Bay State. Learn more about our contract options.
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|November 2017 SREC I Contract Options (interconnected before 04/2014)|
|Sol Annuity 5||5-year fixed rate||$280/SREC|
|Sol Brokerage||Market rate (commission fee greater of $5 or 5%)||Last sale: $310/SREC|
Sol Upfront 10One time, lump sum in exchange for 10 years of SRECs$450/kWdc
|November 2017 SREC II Contract Options (interconnected in or after 04/2014)|
|Sol Annuity 3||3-year fixed rate||$220/SREC|
|Sol Annuity 5||5-year fixed rate||$200/SREC|
|Sol Combo 10||10-year fixed rate||$230/SREC for 3 years|
|$160/SREC for 7 years|
|Sol Upfront 10||One time, lump sum based on system size||$450/kW|
|Sol Brokerage||Market rate (commission fee greater of $5 or 5%)||Last sale: $270/SREC|
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 and the interconnection agreement with their utility or local co-op. Sol Systems will then complete registration with the DOER, PTS, and NEPOOL on the customer’s behalf at no cost.
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 energy production passes a 1000 kWh threshold 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.